Quantessence Capital LLC Buys Shares of 9,979 CAVA Group, Inc. (NYSE:CAVA)

Quantessence Capital LLC acquired a new stake in CAVA Group, Inc. (NYSE:CAVA - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 9,979 shares of the company's stock, valued at approximately $1,126,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. MML Investors Services LLC purchased a new position in CAVA Group in the third quarter valued at approximately $288,000. Virtu Financial LLC boosted its holdings in shares of CAVA Group by 306.9% in the 3rd quarter. Virtu Financial LLC now owns 40,088 shares of the company's stock valued at $4,965,000 after buying an additional 30,235 shares in the last quarter. Wilmington Savings Fund Society FSB purchased a new position in shares of CAVA Group in the 3rd quarter valued at $286,000. Lord Abbett & CO. LLC raised its stake in CAVA Group by 1.5% during the 3rd quarter. Lord Abbett & CO. LLC now owns 1,358,250 shares of the company's stock worth $168,219,000 after acquiring an additional 19,493 shares in the last quarter. Finally, GAMMA Investing LLC lifted its position in CAVA Group by 37.0% in the fourth quarter. GAMMA Investing LLC now owns 422 shares of the company's stock valued at $48,000 after acquiring an additional 114 shares during the last quarter. Hedge funds and other institutional investors own 73.15% of the company's stock.

CAVA Group Price Performance

Shares of CAVA stock traded down $0.28 during trading hours on Friday, reaching $90.74. 1,877,597 shares of the company's stock were exchanged, compared to its average volume of 3,115,847. The company's 50 day moving average is $87.76 and its two-hundred day moving average is $115.89. The company has a market cap of $10.49 billion, a P/E ratio of 197.26 and a beta of 3.33. CAVA Group, Inc. has a 1 year low of $66.15 and a 1 year high of $172.43.

CAVA Group (NYSE:CAVA - Get Free Report) last released its quarterly earnings data on Tuesday, February 25th. The company reported $0.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.06 by ($0.01). CAVA Group had a return on equity of 9.10% and a net margin of 5.88%. The business had revenue of $227.40 million during the quarter, compared to analysts' expectations of $223.34 million. As a group, analysts predict that CAVA Group, Inc. will post 0.5 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of analysts have recently commented on the company. TD Securities cut their target price on CAVA Group from $130.00 to $120.00 and set a "buy" rating on the stock in a research report on Monday, April 21st. Wedbush restated an "outperform" rating and set a $150.00 target price on shares of CAVA Group in a research report on Wednesday, February 26th. Loop Capital cut their target price on shares of CAVA Group from $147.00 to $100.00 and set a "hold" rating on the stock in a report on Thursday, February 27th. Piper Sandler upgraded shares of CAVA Group from a "neutral" rating to an "overweight" rating and decreased their price target for the stock from $142.00 to $115.00 in a research note on Friday, February 28th. Finally, UBS Group dropped their price objective on shares of CAVA Group from $160.00 to $125.00 and set a "neutral" rating on the stock in a research note on Tuesday, January 7th. Five research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $124.19.

Insider Activity

In other CAVA Group news, CFO Tricia K. Tolivar sold 1,505 shares of the company's stock in a transaction dated Monday, January 27th. The shares were sold at an average price of $124.39, for a total transaction of $187,206.95. Following the transaction, the chief financial officer now directly owns 234,087 shares in the company, valued at approximately $29,118,081.93. This represents a 0.64 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Kenneth Robert Bertram sold 678 shares of the stock in a transaction dated Monday, January 27th. The shares were sold at an average price of $124.39, for a total transaction of $84,336.42. Following the completion of the transaction, the insider now directly owns 57,312 shares of the company's stock, valued at approximately $7,129,039.68. This trade represents a 1.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 5,734 shares of company stock worth $713,252 in the last 90 days. 12.10% of the stock is currently owned by corporate insiders.

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.