Sovran Advisors LLC Makes New Investment in CAVA Group, Inc. (NYSE:CAVA)

Sovran Advisors LLC purchased a new stake in CAVA Group, Inc. (NYSE:CAVA) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 23,373 shares of the company’s stock, valued at approximately $2,628,000.

A number of other hedge funds have also modified their holdings of CAVA. Wealthstar Advisors LLC acquired a new stake in CAVA Group in the 4th quarter valued at approximately $1,164,000. Newbridge Financial Services Group Inc. purchased a new position in shares of CAVA Group during the fourth quarter worth $86,000. Entropy Technologies LP acquired a new stake in shares of CAVA Group in the fourth quarter valued at $2,097,000. Empowered Funds LLC purchased a new stake in shares of CAVA Group in the 4th quarter valued at $5,007,000. Finally, Kingsview Wealth Management LLC lifted its stake in CAVA Group by 2.7% during the 4th quarter. Kingsview Wealth Management LLC now owns 24,288 shares of the company’s stock worth $2,740,000 after acquiring an additional 633 shares in the last quarter. 73.15% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on CAVA shares. William Blair reissued an “outperform” rating on shares of CAVA Group in a research report on Wednesday, November 13th. Piper Sandler raised their price target on shares of CAVA Group from $100.00 to $142.00 and gave the company a “neutral” rating in a research report on Friday, November 15th. UBS Group cut their price objective on CAVA Group from $160.00 to $125.00 and set a “neutral” rating on the stock in a research report on Tuesday, January 7th. JPMorgan Chase & Co. boosted their target price on CAVA Group from $90.00 to $110.00 and gave the stock a “neutral” rating in a research note on Wednesday, November 13th. Finally, Robert W. Baird lifted their price objective on CAVA Group from $125.00 to $148.00 and gave the company an “outperform” rating in a research note on Monday, November 4th. Eight investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $142.13.

CAVA Group Price Performance

NYSE CAVA opened at $140.70 on Tuesday. The firm’s fifty day moving average price is $124.93 and its 200 day moving average price is $122.54. CAVA Group, Inc. has a 12 month low of $48.10 and a 12 month high of $172.43. The company has a market capitalization of $16.12 billion, a price-to-earnings ratio of 305.87 and a beta of 3.25.

CAVA Group (NYSE:CAVA) last issued its quarterly earnings data on Tuesday, November 12th. The company reported $0.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.11 by $0.04. CAVA Group had a return on equity of 9.10% and a net margin of 5.88%. The company had revenue of $243.82 million for the quarter, compared to analyst estimates of $233.05 million. During the same quarter last year, the company posted $0.06 earnings per share. The business’s quarterly revenue was up 38.9% compared to the same quarter last year. As a group, sell-side analysts forecast that CAVA Group, Inc. will post 0.5 earnings per share for the current year.

Insider Activity at CAVA Group

In related news, CFO Tricia K. Tolivar sold 2,086 shares of the stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $119.18, for a total transaction of $248,609.48. Following the completion of the sale, the chief financial officer now directly owns 235,592 shares of the company’s stock, valued at $28,077,854.56. This trade represents a 0.88 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Karen Kochevar sold 15,000 shares of the business’s stock in a transaction on Friday, November 15th. The shares were sold at an average price of $140.00, for a total transaction of $2,100,000.00. Following the completion of the transaction, the director now directly owns 1,307 shares in the company, valued at $182,980. This represents a 91.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 681,784 shares of company stock valued at $100,756,372 in the last three months. 12.10% of the stock is currently owned by company insiders.

CAVA Group 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.