Algert Global LLC Grows Position in CAVA Group, Inc. (NYSE:CAVA)

Algert Global LLC raised its holdings in CAVA Group, Inc. (NYSE:CAVA - Free Report) by 76.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 27,521 shares of the company's stock after purchasing an additional 11,911 shares during the period. Algert Global LLC's holdings in CAVA Group were worth $3,104,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Charles Schwab Investment Management Inc. increased its position in shares of CAVA Group by 2.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 527,868 shares of the company's stock valued at $59,544,000 after buying an additional 11,776 shares during the period. Entropy Technologies LP purchased a new stake in CAVA Group in the 4th quarter worth approximately $2,097,000. Empowered Funds LLC bought a new position in CAVA Group in the 4th quarter valued at $5,007,000. Legacy Capital Wealth Partners LLC grew its position in shares of CAVA Group by 71.9% during the 4th quarter. Legacy Capital Wealth Partners LLC now owns 13,658 shares of the company's stock valued at $1,541,000 after purchasing an additional 5,712 shares in the last quarter. Finally, Jennison Associates LLC raised its position in shares of CAVA Group by 36,658.7% in the fourth quarter. Jennison Associates LLC now owns 2,461,732 shares of the company's stock worth $277,683,000 after buying an additional 2,455,035 shares in the last quarter. Institutional investors own 73.15% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the company. Wedbush restated an "outperform" rating and issued a $150.00 target price on shares of CAVA Group in a research note on Wednesday, February 26th. JPMorgan Chase & Co. raised shares of CAVA Group from a "neutral" rating to an "overweight" rating and set a $110.00 target price on the stock in a research note on Thursday, March 20th. Piper Sandler raised shares of CAVA Group from a "neutral" rating to an "overweight" rating and cut their price target for the stock from $142.00 to $115.00 in a research note on Friday, February 28th. Loop Capital lowered their price objective on shares of CAVA Group from $147.00 to $100.00 and set a "hold" rating on the stock in a research report on Thursday, February 27th. Finally, Citigroup cut their target price on shares of CAVA Group from $163.00 to $140.00 and set a "neutral" rating for the company in a research report on Friday, February 21st. Five research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $124.19.

CAVA Group Trading Up 0.5 %

CAVA stock opened at $93.76 on Thursday. The stock has a market capitalization of $10.84 billion, a price-to-earnings ratio of 203.82 and a beta of 3.28. The firm's 50-day moving average price is $86.13 and its two-hundred day moving average price is $113.82. 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 released its quarterly earnings results on Tuesday, February 25th. The company reported $0.05 EPS for the quarter, missing analysts' consensus estimates of $0.06 by ($0.01). The business had revenue of $227.40 million for 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%. Equities analysts predict that CAVA Group, Inc. will post 0.5 EPS for the current year.

CAVA Group Company 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.

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