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Twinbeech Capital LP Trims Stock Position in CAVA Group, Inc. (NYSE:CAVA)

CAVA Group logo with Retail/Wholesale background

Twinbeech Capital LP trimmed its holdings in CAVA Group, Inc. (NYSE:CAVA - Free Report) by 96.1% in the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 6,529 shares of the company's stock after selling 161,110 shares during the quarter. Twinbeech Capital LP's holdings in CAVA Group were worth $736,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Utah Retirement Systems boosted its position in CAVA Group by 2.5% in the fourth quarter. Utah Retirement Systems now owns 4,100 shares of the company's stock worth $462,000 after purchasing an additional 100 shares during the last quarter. Whittier Trust Co. lifted its holdings in CAVA Group by 80.9% in the 4th quarter. Whittier Trust Co. now owns 284 shares of the company's stock worth $32,000 after purchasing an additional 127 shares in the last quarter. Mainstream Capital Management LLC lifted its holdings in CAVA Group by 0.7% in the 4th quarter. Mainstream Capital Management LLC now owns 17,758 shares of the company's stock worth $2,003,000 after purchasing an additional 132 shares in the last quarter. Centurion Wealth Management LLC increased its stake in 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 during the last quarter. Finally, Kovitz Investment Group Partners LLC increased its stake in 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 during the last quarter. 73.15% of the stock is currently owned by institutional investors.

CAVA Group Stock Performance

NYSE CAVA traded up $0.16 during trading on Tuesday, reaching $83.59. 1,306,771 shares of the company's stock were exchanged, compared to its average volume of 3,317,862. The stock has a market cap of $9.67 billion, a P/E ratio of 181.73 and a beta of 3.28. The company has a 50 day moving average price of $88.94 and a two-hundred day moving average price of $109.44. CAVA Group, Inc. has a 1 year low of $70.00 and a 1 year high of $172.43.

CAVA Group (NYSE:CAVA - Get Free Report) last announced 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. The company had revenue of $331.83 million during the quarter, compared to the consensus estimate of $327.98 million. CAVA Group had a return on equity of 9.10% and a net margin of 5.88%. CAVA Group's revenue for the quarter was up 28.1% on a year-over-year basis. During the same period in the previous year, the business earned $0.12 EPS. Research analysts forecast that CAVA Group, Inc. will post 0.5 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research firms have recently weighed in on CAVA. JPMorgan Chase & Co. raised CAVA Group from a "neutral" rating to an "overweight" rating and set a $110.00 target price on the stock in a research report on Thursday, March 20th. Robert W. Baird boosted their price objective on CAVA Group from $105.00 to $115.00 and gave the company an "outperform" rating in a report on Friday, May 16th. Bank of America upped their target price on CAVA Group from $112.00 to $121.00 and gave the stock a "buy" rating in a report on Monday, May 19th. Citigroup upped their price objective on CAVA Group from $114.00 to $115.00 and gave the stock a "neutral" rating in a research note on Friday, May 16th. Finally, Barclays decreased their price objective on CAVA Group from $104.00 to $90.00 and set an "equal weight" rating for the company in a research note on Tuesday, April 22nd. 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.com, the company has a consensus rating of "Moderate Buy" and an average target price of $123.00.

Read Our Latest Stock Report on CAVA Group

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 stock was 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 directly 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Theodoros Xenohristos sold 9,348 shares of the business's 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 completion of the sale, the insider now directly owns 353,271 shares of the company's stock, valued at $33,518,352.48. The trade was a 2.58% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 6.80% of the company's stock.

CAVA Group Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for CAVA Group (NYSE:CAVA)

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