Castleark Management LLC Buys New Position in CAVA Group, Inc. (NYSE:CAVA)

Castleark Management LLC purchased a new stake in shares of CAVA Group, Inc. (NYSE:CAVA - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 43,460 shares of the company's stock, valued at approximately $4,902,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Utah Retirement Systems increased its stake in CAVA Group by 2.5% during the 4th quarter. Utah Retirement Systems now owns 4,100 shares of the company's stock valued at $462,000 after purchasing an additional 100 shares in the last quarter. Whittier Trust Co. increased its stake in 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 purchasing an additional 127 shares in the last quarter. Mainstream Capital Management LLC increased its stake in CAVA Group by 0.7% during the 4th quarter. Mainstream Capital Management LLC now owns 17,758 shares of the company's stock valued at $2,003,000 after purchasing an additional 132 shares in the last quarter. Centurion Wealth Management LLC grew its stake in shares of CAVA Group by 8.8% in the 4th quarter. Centurion Wealth Management LLC now owns 1,913 shares of the company's stock worth $216,000 after acquiring an additional 154 shares in the last quarter. Finally, Kovitz Investment Group Partners LLC grew its stake in shares of CAVA Group by 7.0% in the 4th quarter. Kovitz Investment Group Partners LLC now owns 2,435 shares of the company's stock worth $275,000 after acquiring an additional 159 shares in the last quarter. Institutional investors own 73.15% of the company's stock.

Insider Transactions at CAVA Group

In other news, insider Theodoros Xenohristos sold 9,348 shares of the stock in a transaction dated Friday, May 9th. The shares were sold at an average price of $94.88, for a total value of $886,938.24. Following the sale, the insider now directly owns 353,271 shares of the company's stock, valued at approximately $33,518,352.48. This represents a 2.58% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Kelly Costanza sold 10,243 shares of the stock in a transaction dated Wednesday, May 21st. The stock was sold at an average price of $86.63, for a total transaction of $887,351.09. Following the completion of the sale, the insider now directly owns 125,347 shares in the company, valued at approximately $10,858,810.61. The trade was a 7.55% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 6.80% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on CAVA shares. Bank of America upped their target price on shares of CAVA Group from $112.00 to $121.00 and gave the stock a "buy" rating in a research note on Monday, May 19th. William Blair reiterated an "outperform" rating on shares of CAVA Group in a research note on Wednesday, February 26th. Citigroup upped their target price on shares of CAVA Group from $114.00 to $115.00 and gave the stock a "neutral" rating in a research note on Friday, May 16th. Sanford C. Bernstein upgraded shares of CAVA Group from a "market perform" rating to an "outperform" rating and set a $115.00 target price for the company in a research note on Wednesday, April 23rd. Finally, Wedbush reiterated an "outperform" rating and issued a $150.00 target price on shares of CAVA Group in a research note on Wednesday, February 26th. Five investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $123.00.

CAVA Group Stock Performance

NYSE CAVA traded down $0.94 during trading on Friday, hitting $83.42. 2,854,763 shares of the company's stock traded hands, compared to its average volume of 3,212,688. The stock has a market capitalization of $9.65 billion, a price-to-earnings ratio of 181.35 and a beta of 3.28. CAVA Group, Inc. has a 12-month low of $70.00 and a 12-month high of $172.43. The business has a 50 day moving average of $88.90 and a 200-day moving average of $110.11.

CAVA Group (NYSE:CAVA - Get Free Report) last released its quarterly earnings data on Thursday, May 15th. The company reported $0.22 EPS for the quarter, beating the consensus estimate of $0.14 by $0.08. The business had revenue of $331.83 million for the quarter, compared to the consensus estimate 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 was up 28.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.12 earnings per share. On average, analysts expect that CAVA Group, Inc. will post 0.5 EPS for the current year.

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.