Scientech Research LLC Has $1.30 Million Holdings in CAVA Group, Inc. (NYSE:CAVA)

Scientech Research LLC decreased its stake in CAVA Group, Inc. (NYSE:CAVA - Free Report) by 23.1% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,485 shares of the company's stock after selling 3,453 shares during the period. Scientech Research LLC's holdings in CAVA Group were worth $1,296,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Jennison Associates LLC grew its stake in CAVA Group by 36,658.7% in the fourth quarter. Jennison Associates LLC now owns 2,461,732 shares of the company's stock valued at $277,683,000 after purchasing an additional 2,455,035 shares in the last quarter. Vanguard Group Inc. boosted its holdings in shares of CAVA Group by 20.4% in the 4th quarter. Vanguard Group Inc. now owns 8,011,602 shares of the company's stock valued at $903,709,000 after buying an additional 1,357,187 shares during the last quarter. Man Group plc grew its stake in shares of CAVA Group by 563.7% in the fourth quarter. Man Group plc now owns 935,075 shares of the company's stock valued at $105,476,000 after buying an additional 794,187 shares in the last quarter. Barclays PLC increased its holdings in CAVA Group by 116.7% during the fourth quarter. Barclays PLC now owns 84,755 shares of the company's stock worth $9,560,000 after buying an additional 591,866 shares during the last quarter. Finally, Norges Bank acquired a new stake in CAVA Group in the fourth quarter valued at $64,538,000. Institutional investors and hedge funds own 73.15% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on CAVA. UBS Group dropped their target price on shares of CAVA Group from $125.00 to $112.00 and set a "neutral" rating on the stock in a report on Tuesday, May 13th. Robert W. Baird lifted their target price on CAVA Group from $105.00 to $115.00 and gave the stock an "outperform" rating in a research note on Friday, May 16th. Bank of America lifted their price objective on shares of CAVA Group from $112.00 to $121.00 and gave the stock a "buy" rating in a research report on Monday. TD Securities reaffirmed a "buy" rating and set a $120.00 target price on shares of CAVA Group in a report on Friday, May 16th. Finally, Wedbush reiterated an "outperform" rating and issued a $150.00 price target on shares of CAVA Group in a research note on Wednesday, February 26th. 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 price target of $123.00.

Insiders Place Their Bets

In other 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 value of $886,938.24. Following the completion of the transaction, the insider now owns 353,271 shares of the company's stock, valued at approximately $33,518,352.48. This represents a 2.58% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 6.80% of the company's stock.

CAVA Group Stock Performance

Shares of NYSE CAVA traded up $0.68 during mid-day trading on Thursday, reaching $84.37. The company had a trading volume of 2,009,894 shares, compared to its average volume of 3,194,456. The firm has a market cap of $9.76 billion, a price-to-earnings ratio of 183.12 and a beta of 3.28. The business's 50-day simple moving average is $88.65 and its 200 day simple moving average is $110.97. CAVA Group, Inc. has a one year low of $70.00 and a one year high of $172.43.

CAVA Group (NYSE:CAVA - Get Free Report) last released its earnings results on Thursday, May 15th. The company reported $0.22 EPS for the quarter, beating the consensus estimate 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 for the quarter, compared to analyst estimates of $327.98 million. During the same period last year, the firm earned $0.12 EPS. The business's quarterly revenue was up 28.1% compared to the same quarter last year. On average, sell-side analysts anticipate that CAVA Group, Inc. will post 0.5 EPS for the current 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.