Zurcher Kantonalbank Zurich Cantonalbank Has $1.66 Million Stake in CAVA Group, Inc. (NYSE:CAVA)

Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of CAVA Group, Inc. (NYSE:CAVA - Free Report) by 40.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 14,712 shares of the company's stock after purchasing an additional 4,242 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank's holdings in CAVA Group were worth $1,660,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the business. Amundi lifted its holdings in CAVA Group by 1,934.6% in the fourth quarter. Amundi now owns 43,764 shares of the company's stock valued at $5,015,000 after buying an additional 41,613 shares during the period. Fairfield Financial Advisors LTD acquired a new position in CAVA Group in the fourth quarter valued at approximately $77,000. Larson Financial Group LLC lifted its holdings in CAVA Group by 274.0% in the fourth quarter. Larson Financial Group LLC now owns 273 shares of the company's stock valued at $31,000 after buying an additional 200 shares during the period. PNC Financial Services Group Inc. lifted its holdings in CAVA Group by 13.4% in the fourth quarter. PNC Financial Services Group Inc. now owns 2,443 shares of the company's stock valued at $276,000 after buying an additional 289 shares during the period. Finally, Chung Wu Investment Group LLC acquired a new position in CAVA Group in the fourth quarter valued at approximately $372,000. 73.15% of the stock is currently owned by institutional investors and hedge funds.

CAVA Group Stock Performance

CAVA Group stock traded down $1.08 during mid-day trading on Friday, reaching $83.59. The company's stock had a trading volume of 3,470,270 shares, compared to its average volume of 2,913,490. The company has a market capitalization of $9.66 billion, a price-to-earnings ratio of 181.71 and a beta of 3.58. CAVA Group, Inc. has a 12 month low of $58.22 and a 12 month high of $172.43. The business's 50 day simple moving average is $111.31 and its 200 day simple moving average is $123.09.

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CAVA Group (NYSE:CAVA - Get Free Report) last released its earnings results on Tuesday, February 25th. The company reported $0.05 earnings per share for the quarter, missing analysts' consensus estimates of $0.06 by ($0.01). The business had revenue of $227.40 million during the quarter, compared to the consensus estimate of $223.34 million. CAVA Group had a net margin of 5.88% and a return on equity of 9.10%. As a group, sell-side analysts expect that CAVA Group, Inc. will post 0.5 EPS for the current year.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the stock. Citigroup cut their price objective on shares of CAVA Group from $163.00 to $140.00 and set a "neutral" rating on the stock in a report on Friday, February 21st. William Blair reiterated an "outperform" rating on shares of CAVA Group in a report on Wednesday, February 26th. Piper Sandler upgraded shares of CAVA Group from a "neutral" rating to an "overweight" rating and cut their target price for the stock from $142.00 to $115.00 in a report on Friday, February 28th. TD Securities cut their target price on shares of CAVA Group from $150.00 to $130.00 and set a "buy" rating on the stock in a report on Wednesday, February 26th. Finally, UBS Group cut their target price on shares of CAVA Group from $160.00 to $125.00 and set a "neutral" rating on the stock in a report on Tuesday, January 7th. Six analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $131.47.

Insider Activity

In other news, CEO Brett Schulman sold 2,936 shares of the firm's stock in a transaction dated Monday, January 27th. The shares were sold at an average price of $124.39, for a total transaction of $365,209.04. Following the completion of the sale, the chief executive officer now owns 773,433 shares in the company, valued at approximately $96,207,330.87. This trade represents a 0.38 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CAO Adam David Phillips sold 615 shares of the firm's stock in a transaction dated Monday, January 27th. The stock was sold at an average price of $124.39, for a total transaction of $76,499.85. Following the sale, the chief accounting officer now owns 10,884 shares of the company's stock, valued at approximately $1,353,860.76. This represents a 5.35 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 29,235 shares of company stock valued at $3,514,101 in the last quarter. Company insiders own 12.10% of the company's stock.

CAVA Group Profile

CAVA Group, Inc owns and operates a chain of restaurants under the CAVA brand in the United States. The company also offers dips, spreads, and dressings through grocery stores. In addition, the company provides online and mobile ordering platforms. Cava Group, Inc was founded in 2006 and is headquartered in Washington, the District of Columbia.