Ethic Inc. Purchases Shares of 5,158 CAVA Group, Inc. (NYSE:CAVA)

Ethic Inc. purchased a new stake in CAVA Group, Inc. (NYSE:CAVA - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 5,158 shares of the company's stock, valued at approximately $582,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in CAVA. Jennison Associates LLC lifted its stake in shares of CAVA Group by 36,658.7% in the 4th quarter. Jennison Associates LLC now owns 2,461,732 shares of the company's stock valued at $277,683,000 after purchasing an additional 2,455,035 shares in the last quarter. Vanguard Group Inc. boosted its position in CAVA Group by 20.4% during the 4th quarter. Vanguard Group Inc. now owns 8,011,602 shares of the company's stock valued at $903,709,000 after purchasing an additional 1,357,187 shares during the period. Barclays PLC grew its stake in shares of CAVA Group by 116.7% in the fourth quarter. Barclays PLC now owns 84,755 shares of the company's stock worth $9,560,000 after purchasing an additional 591,866 shares in the last quarter. Norges Bank acquired a new stake in shares of CAVA Group in the fourth quarter valued at $64,538,000. Finally, Raymond James Financial Inc. acquired a new stake in shares of CAVA Group in the fourth quarter valued at $59,516,000. Hedge funds and other institutional investors own 73.15% of the company's stock.

CAVA Group Trading Down 7.0%

CAVA traded down $6.78 during trading hours on Monday, hitting $90.03. 5,464,232 shares of the company's stock were exchanged, compared to its average volume of 3,179,500. CAVA Group, Inc. has a 12-month low of $70.00 and a 12-month high of $172.43. The firm has a 50 day moving average of $88.07 and a 200 day moving average of $111.61. The firm has a market cap of $10.41 billion, a P/E ratio of 195.72 and a beta of 3.28.

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

Insider Transactions at CAVA Group

In related news, insider Theodoros Xenohristos sold 9,348 shares of CAVA Group stock in a transaction 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 sale, the insider now owns 353,271 shares of the company's stock, valued at $33,518,352.48. The trade was a 2.58% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 6.80% of the company's stock.

Analysts Set New Price Targets

Several research analysts have weighed in on the company. TD Securities reaffirmed a "buy" rating and issued a $120.00 target price on shares of CAVA Group in a research report on Friday. Loop Capital cut their price target on CAVA Group from $147.00 to $100.00 and set a "hold" rating on the stock in a report on Thursday, February 27th. Barclays dropped their price objective on CAVA Group from $104.00 to $90.00 and set an "equal weight" rating on the stock in a research note on Tuesday, April 22nd. Sanford C. Bernstein raised CAVA Group from a "market perform" rating to an "outperform" rating and set a $115.00 target price on the stock in a research report on Wednesday, April 23rd. Finally, William Blair reissued an "outperform" rating on shares of CAVA Group in a research note on Wednesday, February 26th. Five analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus 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.