CAVA Group, Inc. (NYSE:CAVA) Position Increased by Perigon Wealth Management LLC

Perigon Wealth Management LLC lifted its position in shares of CAVA Group, Inc. (NYSE:CAVA - Free Report) by 89.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,099 shares of the company's stock after purchasing an additional 1,938 shares during the period. Perigon Wealth Management LLC's holdings in CAVA Group were worth $482,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in CAVA. KBC Group NV grew its stake in CAVA Group by 114.8% during the 4th quarter. KBC Group NV now owns 3,433 shares of the company's stock valued at $387,000 after purchasing an additional 1,835 shares in the last quarter. Kingswood Wealth Advisors LLC acquired a new stake in shares of CAVA Group during the fourth quarter worth approximately $260,000. Geneos Wealth Management Inc. bought a new stake in shares of CAVA Group in the fourth quarter worth $63,000. Encompass More Asset Management bought a new stake in shares of CAVA Group in the fourth quarter worth $452,000. Finally, Conway Capital Management Inc. raised its holdings in CAVA Group by 10.6% in the fourth quarter. Conway Capital Management Inc. now owns 49,325 shares of the company's stock valued at $5,564,000 after acquiring an additional 4,725 shares in the last quarter. 73.15% of the stock is currently owned by hedge funds and other institutional investors.

CAVA Group Stock Up 0.4 %

NYSE CAVA traded up $0.57 on Wednesday, hitting $142.84. The stock had a trading volume of 1,546,782 shares, compared to its average volume of 2,082,071. The company's 50-day moving average is $124.97 and its two-hundred day moving average is $121.41. CAVA Group, Inc. has a one year low of $47.68 and a one year high of $172.43. The stock has a market cap of $16.37 billion, a price-to-earnings ratio of 310.52 and a beta of 3.25.

CAVA Group (NYSE:CAVA - Get Free Report) last released its earnings results on Tuesday, November 12th. The company reported $0.15 EPS for the quarter, beating the consensus estimate of $0.11 by $0.04. CAVA Group had a net margin of 5.88% and a return on equity of 9.10%. The firm had revenue of $243.82 million for the quarter, compared to analysts' expectations of $233.05 million. During the same quarter last year, the company earned $0.06 EPS. CAVA Group's quarterly revenue was up 38.9% on a year-over-year basis. On average, sell-side analysts anticipate that CAVA Group, Inc. will post 0.5 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the stock. Wedbush boosted their target price on shares of CAVA Group from $155.00 to $190.00 and gave the stock an "outperform" rating in a research report on Wednesday, November 13th. TD Cowen boosted their price objective on CAVA Group from $130.00 to $150.00 and gave the company a "buy" rating in a report on Wednesday, November 13th. Robert W. Baird increased their target price on CAVA Group from $125.00 to $148.00 and gave the stock an "outperform" rating in a report on Monday, November 4th. Sanford C. Bernstein began coverage on CAVA Group in a research report on Wednesday, November 20th. They set a "market perform" rating and a $145.00 price target on the stock. Finally, Citigroup raised their price objective on CAVA Group from $140.00 to $163.00 and gave the stock a "neutral" rating in a research note on Wednesday, November 13th. Eight investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company's stock. According to data from MarketBeat, CAVA Group has an average rating of "Moderate Buy" and an average target price of $142.13.

Insiders Place Their Bets

In related news, CEO Brett Schulman sold 20,564 shares of CAVA Group stock in a transaction dated Tuesday, January 21st. The stock was sold at an average price of $119.18, for a total value of $2,450,817.52. Following the transaction, the chief executive officer now owns 776,369 shares of the company's stock, valued at approximately $92,527,657.42. This trade represents a 2.58 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Adam David Phillips sold 615 shares of the company's stock in a transaction dated Monday, January 27th. The shares were sold at an average price of $124.39, for a total transaction of $76,499.85. Following the sale, the chief accounting officer now directly owns 10,884 shares of the company's stock, valued at $1,353,860.76. This represents a 5.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 681,784 shares of company stock worth $100,756,372. 12.10% of the stock is owned by corporate insiders.

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.