GAMMA Investing LLC Grows Position in CAVA Group, Inc. (NYSE:CAVA)

GAMMA Investing LLC raised its position in shares of CAVA Group, Inc. (NYSE:CAVA - Free Report) by 17,386.7% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 73,794 shares of the company's stock after acquiring an additional 73,372 shares during the period. GAMMA Investing LLC owned approximately 0.06% of CAVA Group worth $6,377,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also bought and sold shares of CAVA. Vanguard Group Inc. lifted its stake in CAVA Group by 20.4% in the fourth quarter. Vanguard Group Inc. now owns 8,011,602 shares of the company's stock worth $903,709,000 after acquiring an additional 1,357,187 shares during the period. Man Group plc lifted its stake in CAVA Group by 563.7% in the fourth quarter. Man Group plc now owns 935,075 shares of the company's stock worth $105,476,000 after acquiring an additional 794,187 shares during the period. Barclays PLC lifted its stake in 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 acquiring an additional 591,866 shares during the period. Norges Bank purchased a new stake in CAVA Group in the fourth quarter worth about $64,538,000. Finally, Raymond James Financial Inc. purchased a new stake in CAVA Group in the fourth quarter worth about $59,516,000. Institutional investors own 73.15% of the company's stock.

Insider Transactions at CAVA Group

In other CAVA Group news, insider Theodoros Xenohristos sold 9,348 shares of the business'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 value of $886,938.24. Following the completion of the sale, the insider now owns 353,271 shares in the company, valued at approximately $33,518,352.48. The trade was a 2.58% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Kelly Costanza sold 10,243 shares of the business's stock in a transaction that occurred on 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. This represents a 7.55% decrease in their position. The disclosure for this sale can be found here. Insiders own 6.80% of the company's stock.

CAVA Group Trading Down 4.6%

CAVA traded down $3.60 on Friday, hitting $74.65. 4,976,417 shares of the company's stock were exchanged, compared to its average volume of 3,105,952. 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 50-day moving average price of $87.44 and a 200-day moving average price of $103.81. The stock has a market cap of $8.63 billion, a price-to-earnings ratio of 162.28 and a beta of 2.77.

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

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. 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 note on Thursday, March 20th. TD Securities reissued a "buy" rating and set a $120.00 price target on shares of CAVA Group in a research report on Friday, May 16th. Citigroup increased their price objective on shares of CAVA Group from $114.00 to $115.00 and gave the company a "neutral" rating in a research report on Friday, May 16th. Bank of America increased their price objective on shares of CAVA Group from $112.00 to $121.00 and gave the company a "buy" rating in a research report on Monday, May 19th. Finally, Loop Capital reduced their price target on shares of CAVA Group from $147.00 to $100.00 and set a "hold" rating for the company in a research report on Thursday, February 27th. Five investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company's stock. According to MarketBeat, CAVA Group presently has a consensus rating of "Moderate Buy" and a consensus target price 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.