Wealthspire Advisors LLC Invests $2.20 Million in CAVA Group, Inc. (NYSE:CAVA)

Wealthspire Advisors LLC acquired a new position in CAVA Group, Inc. (NYSE:CAVA - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 51,283 shares of the company's stock, valued at approximately $2,204,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Headlands Technologies LLC purchased a new stake in CAVA Group in the 3rd quarter worth approximately $26,000. PNC Financial Services Group Inc. raised its position in shares of CAVA Group by 190.0% in the third quarter. PNC Financial Services Group Inc. now owns 870 shares of the company's stock worth $27,000 after buying an additional 570 shares in the last quarter. Clearstead Advisors LLC bought a new stake in CAVA Group during the third quarter valued at $31,000. Hollencrest Capital Management purchased a new position in CAVA Group during the third quarter worth about $75,000. Finally, Amalgamated Bank bought a new position in CAVA Group in the 3rd quarter worth about $103,000. 73.15% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the company. Citigroup lifted their price target on CAVA Group from $49.00 to $60.00 and gave the company a "neutral" rating in a research report on Wednesday, February 28th. Morgan Stanley increased their price target on shares of CAVA Group from $62.00 to $68.00 and gave the stock an "overweight" rating in a report on Friday, April 12th. JPMorgan Chase & Co. upped their target price on shares of CAVA Group from $50.00 to $64.00 and gave the stock an "overweight" rating in a research report on Tuesday, March 19th. Argus upgraded CAVA Group from a "hold" rating to a "buy" rating and set a $70.00 price target on the stock in a research report on Wednesday, April 10th. Finally, Piper Sandler lifted their price target on CAVA Group from $46.00 to $63.00 and gave the stock an "overweight" rating in a research note on Wednesday, February 28th. Four analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat.com, CAVA Group has a consensus rating of "Moderate Buy" and a consensus target price of $60.42.

CAVA Group Stock Up 1.7 %

Shares of CAVA Group stock traded up $1.23 on Thursday, hitting $75.39. The stock had a trading volume of 1,442,333 shares, compared to its average volume of 2,246,787. CAVA Group, Inc. has a one year low of $29.05 and a one year high of $77.14. The stock's 50-day simple moving average is $65.13 and its two-hundred day simple moving average is $49.71.

CAVA Group (NYSE:CAVA - Get Free Report) last released its quarterly earnings data on Monday, February 26th. The company reported $0.02 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.01 by $0.01. The firm had revenue of $175.50 million for the quarter, compared to analysts' expectations of $240.03 million. CAVA Group had a net margin of 1.82% and a return on equity of 4.28%. The company's revenue was up 52.6% compared to the same quarter last year. Equities research analysts forecast that CAVA Group, Inc. will post 0.25 EPS for the current year.

Insider Buying and Selling at CAVA Group

In other news, Director Theodoros Xenohristos sold 47,239 shares of CAVA Group stock in a transaction that occurred on Tuesday, March 26th. The stock was sold at an average price of $68.29, for a total value of $3,225,951.31. Following the sale, the director now directly owns 526,521 shares in the company, valued at approximately $35,956,119.09. The sale was disclosed in a filing with the SEC, which is available through this link. In related news, Director International S.C.A. Artal sold 2,000,000 shares of the business's stock in a transaction dated Thursday, March 21st. The shares were sold at an average price of $66.25, for a total transaction of $132,500,000.00. Following the transaction, the director now owns 26,507,990 shares in the company, valued at $1,756,154,337.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Theodoros Xenohristos sold 47,239 shares of the firm's stock in a transaction dated Tuesday, March 26th. The stock was sold at an average price of $68.29, for a total transaction of $3,225,951.31. Following the completion of the sale, the director now owns 526,521 shares of the company's stock, valued at $35,956,119.09. The disclosure for this sale can be found here. Insiders sold 3,547,239 shares of company stock valued at $221,525,951 in the last 90 days.

CAVA Group Company Profile

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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