1248 Management LLC Purchases New Shares in CAVA Group, Inc. (NYSE:CAVA)

1248 Management LLC bought a new stake in shares of CAVA Group, Inc. (NYSE:CAVA - Free Report) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 3,883 shares of the company's stock, valued at approximately $438,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Jennison Associates LLC raised its holdings in CAVA Group by 36,658.7% in the 4th quarter. Jennison Associates LLC now owns 2,461,732 shares of the company's stock valued at $277,683,000 after acquiring an additional 2,455,035 shares during the period. Vanguard Group Inc. lifted its stake in CAVA Group by 20.4% in the 4th quarter. Vanguard Group Inc. now owns 8,011,602 shares of the company's stock valued at $903,709,000 after purchasing an additional 1,357,187 shares during the last quarter. Barclays PLC grew its position in CAVA Group by 116.7% during the 4th quarter. Barclays PLC now owns 84,755 shares of the company's stock worth $9,560,000 after acquiring an additional 591,866 shares during the last quarter. Norges Bank bought a new position in CAVA Group in the 4th quarter valued at approximately $64,538,000. Finally, Raymond James Financial Inc. acquired a new position in shares of CAVA Group during the fourth quarter worth $59,516,000. Institutional investors own 73.15% of the company's stock.

CAVA Group Stock Down 0.8 %

Shares of CAVA stock traded down $0.73 during mid-day trading on Monday, reaching $95.92. The company's stock had a trading volume of 1,945,756 shares, compared to its average volume of 3,105,967. CAVA Group, Inc. has a 12-month low of $70.00 and a 12-month high of $172.43. The firm has a market capitalization of $11.09 billion, a PE ratio of 208.52 and a beta of 3.28. The company's 50 day simple moving average is $86.14 and its 200-day simple moving average is $114.38.

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

Analysts Set New Price Targets

A number of analysts recently commented on CAVA shares. JPMorgan Chase & Co. raised CAVA Group from a "neutral" rating to an "overweight" rating and set a $110.00 target price for the company in a research report on Thursday, March 20th. Piper Sandler upgraded shares of CAVA Group from a "neutral" rating to an "overweight" rating and decreased their price target for the stock from $142.00 to $115.00 in a research note on Friday, February 28th. Sanford C. Bernstein upgraded shares of CAVA Group from a "market perform" rating to an "outperform" rating and set a $115.00 price objective for the company in a research report on Wednesday, April 23rd. UBS Group cut their price objective on CAVA Group from $160.00 to $125.00 and set a "neutral" rating for the company in a report on Tuesday, January 7th. Finally, Barclays lowered their price objective on shares of CAVA Group from $104.00 to $90.00 and set an "equal weight" rating for the company in a report on Tuesday, April 22nd. Five investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat.com, CAVA Group currently has a consensus rating of "Moderate Buy" and a consensus price target of $124.19.

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.