Hsbc Holdings PLC Acquires Shares of 17,891 CAVA Group, Inc. (NYSE:CAVA)

Hsbc Holdings PLC bought a new position in CAVA Group, Inc. (NYSE:CAVA - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 17,891 shares of the company's stock, valued at approximately $2,047,000.

Several other hedge funds have also modified their holdings of CAVA. Arcadia Investment Management Corp MI acquired a new stake in shares of CAVA Group during the 4th quarter worth approximately $25,000. Allworth Financial LP increased its position in CAVA Group by 369.2% in the fourth quarter. Allworth Financial LP now owns 244 shares of the company's stock worth $30,000 after buying an additional 192 shares during the period. Larson Financial Group LLC lifted its stake 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 last quarter. Whittier Trust Co. boosted its holdings in shares of CAVA Group by 80.9% during the fourth quarter. Whittier Trust Co. now owns 284 shares of the company's stock valued at $32,000 after acquiring an additional 127 shares during the period. Finally, Signaturefd LLC grew its position in shares of CAVA Group by 884.4% during the fourth quarter. Signaturefd LLC now owns 315 shares of the company's stock worth $36,000 after acquiring an additional 283 shares during the last quarter. 73.15% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

CAVA has been the subject of several recent analyst reports. TD Securities decreased their price target on CAVA Group from $130.00 to $120.00 and set a "buy" rating for the company in a research note on Monday, April 21st. Bank of America began coverage on shares of CAVA Group in a research report on Monday, March 31st. They set a "buy" rating and a $112.00 price target on the stock. Piper Sandler upgraded shares of CAVA Group from a "neutral" rating to an "overweight" rating and decreased their price objective for the company from $142.00 to $115.00 in a report on Friday, February 28th. UBS Group dropped their target price on CAVA Group from $160.00 to $125.00 and set a "neutral" rating on the stock in a report on Tuesday, January 7th. Finally, Citigroup lowered their price target on CAVA Group from $163.00 to $140.00 and set a "neutral" rating on the stock in a research report on Friday, February 21st. Five research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $124.19.

CAVA Group Trading Up 2.2 %

NYSE:CAVA traded up $2.05 during mid-day trading on Friday, hitting $96.58. 2,406,742 shares of the company's stock traded hands, compared to its average volume of 3,110,621. The firm has a 50 day moving average of $86.14 and a two-hundred day moving average of $114.51. The firm has a market capitalization of $11.17 billion, a price-to-earnings ratio of 209.96 and a beta of 3.33. CAVA Group, Inc. has a 12 month low of $70.00 and a 12 month high of $172.43.

CAVA Group (NYSE:CAVA - Get Free Report) last issued its quarterly 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). CAVA Group had a net margin of 5.88% and a return on equity of 9.10%. The company had revenue of $227.40 million during the quarter, compared to the consensus estimate of $223.34 million. As a group, equities research analysts expect that CAVA Group, Inc. will post 0.5 earnings per share for the current year.

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.