CAVA Group, Inc. (NYSE:CAVA) Shares Purchased by Ensign Peak Advisors Inc

Ensign Peak Advisors Inc increased its holdings in shares of CAVA Group, Inc. (NYSE:CAVA - Free Report) by 77.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 17,390 shares of the company's stock after buying an additional 7,590 shares during the quarter. Ensign Peak Advisors Inc's holdings in CAVA Group were worth $1,962,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Arcadia Investment Management Corp MI acquired a new stake in CAVA Group during the 4th quarter worth about $25,000. Allworth Financial LP lifted its position in CAVA Group by 369.2% during the 4th quarter. Allworth Financial LP now owns 244 shares of the company's stock worth $30,000 after acquiring an additional 192 shares during the period. Larson Financial Group LLC lifted its position in CAVA Group by 274.0% during the 4th quarter. Larson Financial Group LLC now owns 273 shares of the company's stock worth $31,000 after acquiring an additional 200 shares during the period. Whittier Trust Co. lifted its holdings in shares of CAVA Group by 80.9% in the 4th quarter. Whittier Trust Co. now owns 284 shares of the company's stock valued at $32,000 after buying an additional 127 shares during the period. Finally, Signaturefd LLC lifted its holdings in shares of CAVA Group by 884.4% in the 4th quarter. Signaturefd LLC now owns 315 shares of the company's stock valued at $36,000 after buying an additional 283 shares during the period. 73.15% of the stock is currently owned by hedge funds and other institutional investors.

CAVA Group Stock Down 7.0%

CAVA Group stock traded down $6.78 during midday trading on Monday, reaching $90.03. The company's stock had a trading volume of 5,464,232 shares, compared to its average volume of 3,179,500. CAVA Group, Inc. has a fifty-two week low of $70.00 and a fifty-two week high of $172.43. The company has a market cap of $10.41 billion, a P/E ratio of 195.72 and a beta of 3.28. The business has a 50-day simple moving average of $88.07 and a 200-day simple moving average of $111.61.

CAVA Group (NYSE:CAVA - Get Free Report) last announced its earnings results on Thursday, May 15th. The company reported $0.22 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.14 by $0.08. The business had revenue of $331.83 million for the quarter, compared to analyst estimates of $327.98 million. CAVA Group had a net margin of 5.88% and a return on equity of 9.10%. The company's revenue for the quarter was up 28.1% compared to the same quarter last year. During the same period last year, the firm posted $0.12 earnings per share. As a group, equities analysts forecast that CAVA Group, Inc. will post 0.5 earnings per share for the current year.

Insider Activity at CAVA Group

In other news, insider Theodoros Xenohristos sold 9,348 shares of CAVA Group stock in a transaction that occurred on Friday, May 9th. The shares were sold at an average price of $94.88, for a total transaction of $886,938.24. Following the completion of the sale, the insider now directly owns 353,271 shares in the company, valued at approximately $33,518,352.48. This trade represents a 2.58% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 6.80% of the company's stock.

Analyst Ratings Changes

A number of research firms recently weighed in on CAVA. Robert W. Baird upped their price target on CAVA Group from $105.00 to $115.00 and gave the stock an "outperform" rating in a report on Friday. UBS Group decreased their price objective on CAVA Group from $125.00 to $112.00 and set a "neutral" rating on the stock in a report on Tuesday, May 13th. Piper Sandler upgraded CAVA Group from a "neutral" rating to an "overweight" rating and dropped their price target for the company from $142.00 to $115.00 in a research report on Friday, February 28th. Wedbush reiterated an "outperform" rating and issued a $150.00 price objective on shares of CAVA Group in a research report on Wednesday, February 26th. Finally, Sanford C. Bernstein upgraded 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 equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat, CAVA Group has an average rating of "Moderate Buy" and an average price target of $123.00.

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.