Capital Research Global Investors Lowers Holdings in CAVA Group, Inc. (NYSE:CAVA)

Capital Research Global Investors lessened its position in shares of CAVA Group, Inc. (NYSE:CAVA - Free Report) by 10.2% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 3,402,031 shares of the company's stock after selling 387,462 shares during the period. Capital Research Global Investors owned 2.97% of CAVA Group worth $383,749,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of CAVA. Howard Financial Services LTD. boosted its holdings in shares of CAVA Group by 1.8% during the 4th quarter. Howard Financial Services LTD. now owns 6,194 shares of the company's stock worth $699,000 after buying an additional 109 shares in the last quarter. GAMMA Investing LLC lifted its position in shares of CAVA Group by 37.0% during the 4th quarter. GAMMA Investing LLC now owns 422 shares of the company's stock valued at $48,000 after acquiring an additional 114 shares during the period. Whittier Trust Co. lifted its position in shares of CAVA Group by 80.9% during the 4th 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. Mainstream Capital Management LLC grew its holdings in CAVA Group by 0.7% in the fourth quarter. Mainstream Capital Management LLC now owns 17,758 shares of the company's stock worth $2,003,000 after purchasing an additional 132 shares during the period. Finally, PSI Advisors LLC grew its holdings in CAVA Group by 11.3% in the fourth quarter. PSI Advisors LLC now owns 1,473 shares of the company's stock worth $166,000 after purchasing an additional 150 shares during the period. Institutional investors and hedge funds own 73.15% of the company's stock.

Insiders Place Their Bets

In related news, insider Kenneth Robert Bertram sold 678 shares of the stock in a transaction dated Monday, January 27th. The stock was sold at an average price of $124.39, for a total transaction of $84,336.42. Following the sale, the insider now owns 57,312 shares of the company's stock, valued at approximately $7,129,039.68. This represents a 1.17 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Tricia K. Tolivar sold 1,505 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 value of $187,206.95. Following the completion of the transaction, the chief financial officer now owns 234,087 shares of the company's stock, valued at approximately $29,118,081.93. This represents a 0.64 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 5,734 shares of company stock worth $713,252 over the last quarter. 12.10% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

CAVA has been the topic of a number of research analyst reports. Piper Sandler raised shares of CAVA Group from a "neutral" rating to an "overweight" rating and cut their price objective for the stock from $142.00 to $115.00 in a research report on Friday, February 28th. JPMorgan Chase & Co. upgraded CAVA Group from a "neutral" rating to an "overweight" rating and set a $110.00 price target on the stock in a report on Thursday, March 20th. William Blair reissued an "outperform" rating on shares of CAVA Group in a research note on Wednesday, February 26th. Loop Capital lowered their target price on 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, Bank of America started coverage on shares of CAVA Group in a research report on Monday, March 31st. They issued a "buy" rating and a $112.00 price target for the company. Five investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat, CAVA Group has a consensus rating of "Moderate Buy" and a consensus price target of $124.19.

CAVA Group Stock Down 0.4 %

NYSE CAVA traded down $0.32 during trading hours on Friday, reaching $90.70. 926,869 shares of the company were exchanged, compared to its average volume of 3,121,482. CAVA Group, Inc. has a 1 year low of $59.02 and a 1 year high of $172.43. The business's 50 day simple moving average is $88.61 and its 200-day simple moving average is $116.28. The stock has a market capitalization of $10.48 billion, a P/E ratio of 197.39 and a beta of 3.33.

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 for the quarter, missing the consensus estimate of $0.06 by ($0.01). The firm 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%. As a group, sell-side analysts anticipate that CAVA Group, Inc. will post 0.5 earnings per share 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.