First Trust Advisors LP Cuts Stake in CAVA Group, Inc. (NYSE:CAVA)

First Trust Advisors LP lowered its stake in CAVA Group, Inc. (NYSE:CAVA - Free Report) by 19.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 236,503 shares of the company's stock after selling 55,964 shares during the quarter. First Trust Advisors LP owned approximately 0.21% of CAVA Group worth $26,678,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Virtu Financial LLC increased its stake in shares of CAVA Group by 306.9% in the third quarter. Virtu Financial LLC now owns 40,088 shares of the company's stock valued at $4,965,000 after buying an additional 30,235 shares during the period. Wilmington Savings Fund Society FSB bought a new stake in CAVA Group during the 3rd quarter worth approximately $286,000. Lord Abbett & CO. LLC increased its position in CAVA Group by 1.5% in the 3rd quarter. Lord Abbett & CO. LLC now owns 1,358,250 shares of the company's stock valued at $168,219,000 after acquiring an additional 19,493 shares during the period. GAMMA Investing LLC raised its stake in shares of CAVA Group by 37.0% during the fourth 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 last quarter. Finally, Modus Advisors LLC lifted its holdings in shares of CAVA Group by 8.0% during the fourth quarter. Modus Advisors LLC now owns 4,791 shares of the company's stock worth $540,000 after purchasing an additional 353 shares during the period. 73.15% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have commented on CAVA shares. Robert W. Baird set a $105.00 target price on CAVA Group and gave the stock an "outperform" rating in a report on Monday, April 7th. UBS Group cut their price objective on CAVA Group from $160.00 to $125.00 and set a "neutral" rating on the stock in a research note on Tuesday, January 7th. Bank of America initiated coverage on shares of CAVA Group in a research report on Monday, March 31st. They set a "buy" rating and a $112.00 target price for the company. Citigroup dropped their price target on shares of CAVA Group from $163.00 to $140.00 and set a "neutral" rating on the stock in a research report on Friday, February 21st. Finally, Sanford C. Bernstein upgraded shares of CAVA Group from a "market perform" rating to an "outperform" rating and set a $115.00 price objective for the company in a research report on Wednesday, April 23rd. Five research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $124.19.

CAVA Group Stock Up 2.4 %

NYSE CAVA traded up $2.18 on Thursday, reaching $94.61. The company had a trading volume of 1,496,648 shares, compared to its average volume of 3,100,522. The company's fifty day moving average is $86.39 and its 200 day moving average is $115.18. CAVA Group, Inc. has a 52-week low of $66.15 and a 52-week high of $172.43. The stock has a market capitalization of $10.94 billion, a P/E ratio of 206.24 and a beta of 3.33.

CAVA Group (NYSE:CAVA - Get Free Report) last released 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). 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%. On average, research analysts expect 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.