Point72 Hong Kong Ltd Takes Position in CAVA Group, Inc. (NYSE:CAVA)

Point72 Hong Kong Ltd purchased a new position in shares of CAVA Group, Inc. (NYSE:CAVA - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 6,149 shares of the company's stock, valued at approximately $694,000.

A number of other hedge funds have also recently added to or reduced their stakes in CAVA. Arcadia Investment Management Corp MI acquired a new position in CAVA Group during the fourth quarter worth $25,000. Allworth Financial LP raised its position in CAVA Group by 369.2% during the fourth quarter. Allworth Financial LP now owns 244 shares of the company's stock worth $30,000 after acquiring an additional 192 shares during the period. Larson Financial Group LLC raised 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 worth $31,000 after acquiring an additional 200 shares during the period. Whittier Trust Co. raised its position in CAVA Group by 80.9% during the fourth quarter. Whittier Trust Co. now owns 284 shares of the company's stock worth $32,000 after acquiring an additional 127 shares during the period. Finally, Signaturefd LLC raised its position in CAVA Group by 884.4% during the fourth quarter. Signaturefd LLC now owns 315 shares of the company's stock worth $36,000 after acquiring an additional 283 shares during the period. 73.15% of the stock is owned by hedge funds and other institutional investors.

CAVA Group Price Performance

Shares of CAVA traded up $0.29 during mid-day trading on Thursday, reaching $83.98. The stock had a trading volume of 1,530,500 shares, compared to its average volume of 3,192,398. CAVA Group, Inc. has a 52-week low of $70.00 and a 52-week high of $172.43. The business's fifty day moving average is $88.65 and its 200 day moving average is $110.97. The firm has a market cap of $9.71 billion, a price-to-earnings ratio of 182.53 and a beta of 3.28.

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

Insiders Place Their Bets

In other CAVA Group news, insider Theodoros Xenohristos sold 9,348 shares of the stock in a transaction dated Friday, May 9th. The shares were sold at an average price of $94.88, for a total transaction of $886,938.24. Following the completion of the transaction, the insider now owns 353,271 shares of the company's stock, valued at $33,518,352.48. This trade represents a 2.58% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 6.80% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on CAVA shares. 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. Sanford C. Bernstein upgraded shares of CAVA Group from a "market perform" rating to an "outperform" rating and set a $115.00 price objective for the company in a research report on Wednesday, April 23rd. Barclays reduced their price objective on shares of CAVA Group from $104.00 to $90.00 and set an "equal weight" rating for the company in a research report on Tuesday, April 22nd. William Blair reiterated an "outperform" rating on shares of CAVA Group in a research report on Wednesday, February 26th. Finally, UBS Group reduced their target price on shares of CAVA Group from $125.00 to $112.00 and set a "neutral" rating for the company in a research report on Tuesday, May 13th. Five equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $123.00.

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.