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

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

Several other hedge funds and other institutional investors have also recently made changes to their positions in CAVA. Arcadia Investment Management Corp MI bought a new position in CAVA Group in the fourth quarter valued at about $25,000. Allworth Financial LP increased its holdings in CAVA Group by 369.2% during the fourth quarter. Allworth Financial LP now owns 244 shares of the company's stock valued at $30,000 after buying an additional 192 shares during the last quarter. Larson Financial Group LLC lifted its position in CAVA Group by 274.0% during the fourth quarter. Larson Financial Group LLC now owns 273 shares of the company's stock valued at $31,000 after purchasing an additional 200 shares in the last quarter. Whittier Trust Co. lifted its holdings in CAVA Group by 80.9% during the fourth 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. Finally, Signaturefd LLC increased its stake in shares of CAVA Group by 884.4% in the fourth quarter. Signaturefd LLC now owns 315 shares of the company's stock worth $36,000 after purchasing an additional 283 shares in the last quarter. Institutional investors own 73.15% of the company's stock.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the company. Wedbush restated an "outperform" rating and set a $150.00 price objective on shares of CAVA Group in a research report on Wednesday, February 26th. Bank of America boosted their target price on shares of CAVA Group from $112.00 to $121.00 and gave the stock a "buy" rating in a report on Monday, May 19th. TD Securities restated a "buy" rating and set a $120.00 price target on shares of CAVA Group in a report on Friday, May 16th. Barclays cut their price objective on CAVA Group from $104.00 to $90.00 and set an "equal weight" rating on the stock in a research report on Tuesday, April 22nd. Finally, JPMorgan Chase & Co. raised shares of CAVA Group from a "neutral" rating to an "overweight" rating and set a $110.00 price objective for the company in a research report on Thursday, March 20th. Five investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $123.00.

Insider Activity

In other news, insider Kelly Costanza sold 10,243 shares of the business's stock in a transaction dated Wednesday, May 21st. The shares were sold at an average price of $86.63, for a total value of $887,351.09. Following the completion of the sale, the insider now owns 125,347 shares of the company's stock, valued at approximately $10,858,810.61. The trade was a 7.55% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Theodoros Xenohristos sold 9,348 shares of the company's stock in a transaction that occurred on Friday, May 9th. The stock was sold at an average price of $94.88, for a total transaction 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 trade represents a 2.58% decrease in their position. The disclosure for this sale can be found here. 6.80% of the stock is currently owned by corporate insiders.

CAVA Group Price Performance

Shares of CAVA Group stock traded down $0.16 during trading on Tuesday, hitting $83.28. The stock had a trading volume of 1,611,840 shares, compared to its average volume of 3,206,690. The business has a fifty day moving average of $88.94 and a two-hundred day moving average of $109.44. CAVA Group, Inc. has a fifty-two week low of $70.00 and a fifty-two week high of $172.43. The firm has a market cap of $9.63 billion, a P/E ratio of 181.09 and a beta of 3.28.

CAVA Group (NYSE:CAVA - Get Free Report) last posted its quarterly 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. CAVA Group had a net margin of 5.88% and a return on equity of 9.10%. The business had revenue of $331.83 million during the quarter, compared to analyst estimates of $327.98 million. During the same period in the prior year, the firm earned $0.12 earnings per share. The firm's revenue was up 28.1% compared to the same quarter last year. As a group, research analysts forecast that CAVA Group, Inc. will post 0.5 earnings per share 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.