CAVA Group, Inc. (NYSE:CAVA) Stock Position Trimmed by Artal Group S.A.

Artal Group S.A. reduced its stake in shares of CAVA Group, Inc. (NYSE:CAVA - Free Report) by 45.7% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 9,507,990 shares of the company's stock after selling 8,000,000 shares during the quarter. CAVA Group comprises about 91.4% of Artal Group S.A.'s investment portfolio, making the stock its biggest position. Artal Group S.A. owned 8.30% of CAVA Group worth $1,072,501,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also modified their holdings of the company. Wilmington Savings Fund Society FSB bought a new position in CAVA Group during the 3rd quarter valued at about $286,000. GAMMA Investing LLC raised its holdings in shares of CAVA Group by 37.0% in the fourth quarter. GAMMA Investing LLC now owns 422 shares of the company's stock worth $48,000 after buying an additional 114 shares during the period. Modus Advisors LLC lifted its stake in shares of CAVA Group by 8.0% during the 4th quarter. Modus Advisors LLC now owns 4,791 shares of the company's stock worth $540,000 after acquiring an additional 353 shares during the last quarter. Everence Capital Management Inc. purchased a new position in CAVA Group during the 4th quarter valued at $271,000. Finally, Nordea Investment Management AB bought a new position in CAVA Group in the 4th quarter valued at $2,197,000. 73.15% of the stock is owned by institutional investors.

Analysts Set New Price Targets

CAVA has been the subject of a number of recent analyst reports. Barclays lowered their target price on shares of CAVA Group from $104.00 to $90.00 and set an "equal weight" rating for the company in a research note on Tuesday, April 22nd. Piper Sandler upgraded shares of CAVA Group from a "neutral" rating to an "overweight" rating and dropped their target price for the stock from $142.00 to $115.00 in a research note on Friday, February 28th. Wedbush reaffirmed an "outperform" rating and set a $150.00 price target on shares of CAVA Group in a research note on Wednesday, February 26th. Loop Capital dropped their price objective on CAVA Group from $147.00 to $100.00 and set a "hold" rating on the stock in a research note on Thursday, February 27th. Finally, Citigroup decreased their target price on 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's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $124.19.

CAVA Group Trading Down 2.6 %

Shares of CAVA traded down $2.46 during midday trading on Tuesday, hitting $93.38. 2,835,455 shares of the company's stock traded hands, compared to its average volume of 3,104,847. The stock has a market capitalization of $10.80 billion, a price-to-earnings ratio of 203.00 and a beta of 3.28. CAVA Group, Inc. has a 1 year low of $70.00 and a 1 year high of $172.43. The firm's fifty day moving average is $86.08 and its 200-day moving average is $114.10.

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 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 business had revenue of $227.40 million during the quarter, compared to analyst estimates of $223.34 million. On average, equities research analysts anticipate that CAVA Group, Inc. will post 0.5 EPS for the current year.

About CAVA Group

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.