Two Sigma Investments LP Sells 486,944 Shares of CAVA Group, Inc. (NYSE:CAVA)

Two Sigma Investments LP reduced its stake in shares of CAVA Group, Inc. (NYSE:CAVA - Free Report) by 24.7% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,484,196 shares of the company's stock after selling 486,944 shares during the period. Two Sigma Investments LP owned 1.30% of CAVA Group worth $167,417,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the stock. Utah Retirement Systems raised its position in CAVA Group by 2.5% during the 4th 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. raised its position in shares of 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 acquiring an additional 127 shares in the last quarter. Mainstream Capital Management LLC raised its position in shares of 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 acquiring an additional 132 shares in the last quarter. Centurion Wealth Management LLC raised its position 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 raised its position 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. 73.15% of the stock is owned by institutional investors.

Insider Buying and Selling at CAVA Group

In other news, insider Kelly Costanza sold 10,243 shares of the business's stock in a transaction that occurred on Wednesday, May 21st. The stock was sold at an average price of $86.63, for a total value of $887,351.09. Following the transaction, the insider now owns 125,347 shares in the company, valued at $10,858,810.61. The trade was a 7.55% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, 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 transaction, the insider now owns 353,271 shares in the company, valued at $33,518,352.48. The trade was a 2.58% decrease in their position. The disclosure for this sale can be found here. Company insiders own 6.80% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the company. UBS Group lowered their price objective on CAVA Group from $125.00 to $112.00 and set a "neutral" rating for the company in a research report on Tuesday, May 13th. Loop Capital lowered their price objective on CAVA Group from $147.00 to $100.00 and set a "hold" rating for the company in a research report on Thursday, February 27th. Robert W. Baird lifted their price objective on CAVA Group from $105.00 to $115.00 and gave the stock an "outperform" rating in a research report on Friday, May 16th. Citigroup lifted their price objective on CAVA Group from $114.00 to $115.00 and gave the stock a "neutral" rating in a research report on Friday, May 16th. Finally, Sanford C. Bernstein raised CAVA Group from a "market perform" rating to an "outperform" rating and set a $115.00 target price for the company in a research report on Wednesday, April 23rd. Five equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $123.00.

CAVA Group Stock Down 1.1%

CAVA stock traded down $0.94 during mid-day trading on Friday, reaching $83.42. 2,854,763 shares of the company traded hands, compared to its average volume of 3,213,449. The stock has a market cap of $9.65 billion, a price-to-earnings ratio of 181.35 and a beta of 3.28. CAVA Group, Inc. has a fifty-two week low of $70.00 and a fifty-two week high of $172.43. The firm's 50 day moving average price is $88.90 and its 200 day moving average price is $110.30.

CAVA Group (NYSE:CAVA - Get Free Report) last released its quarterly earnings results on Thursday, May 15th. The company reported $0.22 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.14 by $0.08. The business 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%. The company's quarterly revenue was up 28.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.12 EPS. On average, analysts anticipate that CAVA Group, Inc. will post 0.5 EPS for the current fiscal 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.