Concurrent Investment Advisors LLC Buys 394 Shares of CAVA Group, Inc. (NYSE:CAVA)

Concurrent Investment Advisors LLC lifted its stake in shares of CAVA Group, Inc. (NYSE:CAVA) by 16.2% during the 4th quarter, HoldingsChannel.com reports. The firm owned 2,828 shares of the company’s stock after buying an additional 394 shares during the period. Concurrent Investment Advisors LLC’s holdings in CAVA Group were worth $319,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of the stock. FMR LLC increased its holdings in CAVA Group by 0.9% in the 3rd quarter. FMR LLC now owns 3,485,033 shares of the company’s stock valued at $431,621,000 after buying an additional 29,668 shares during the period. Jennison Associates LLC raised its holdings in shares of CAVA Group by 36,658.7% during the 4th quarter. Jennison Associates LLC now owns 2,461,732 shares of the company’s stock worth $277,683,000 after buying an additional 2,455,035 shares in the last quarter. Two Sigma Advisers LP lifted its position in shares of CAVA Group by 17.0% during the 3rd quarter. Two Sigma Advisers LP now owns 2,210,900 shares of the company’s stock worth $273,820,000 after buying an additional 321,800 shares during the last quarter. Lord Abbett & CO. LLC grew its position in CAVA Group by 1.5% in the third quarter. Lord Abbett & CO. LLC now owns 1,358,250 shares of the company’s stock valued at $168,219,000 after acquiring an additional 19,493 shares during the last quarter. Finally, State Street Corp raised its stake in CAVA Group by 33.3% during the third quarter. State Street Corp now owns 1,267,333 shares of the company’s stock worth $156,959,000 after acquiring an additional 316,514 shares in the last quarter. Institutional investors own 73.15% of the company’s stock.

Insider Buying and Selling

In other news, Director Ronald M. Shaich sold 622,549 shares of the business’s stock in a transaction on Monday, December 9th. The stock was sold at an average price of $149.40, for a total value of $93,008,820.60. Following the completion of the transaction, the director now directly owns 6,307 shares of the company’s stock, valued at approximately $942,265.80. The trade was a 99.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO Adam David Phillips sold 615 shares of the firm’s stock in a transaction dated Monday, January 27th. The shares were sold at an average price of $124.39, for a total value of $76,499.85. Following the sale, the chief accounting officer now directly owns 10,884 shares in the company, valued at approximately $1,353,860.76. The trade was a 5.35 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 651,784 shares of company stock valued at $96,522,922 over the last quarter. 12.10% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on CAVA shares. Piper Sandler lifted their price target on shares of CAVA Group from $100.00 to $142.00 and gave the company a “neutral” rating in a report on Friday, November 15th. UBS Group reduced 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. Stifel Nicolaus raised their price target on shares of CAVA Group from $118.00 to $175.00 and gave the stock a “buy” rating in a report on Wednesday, November 13th. Barclays dropped their price objective on CAVA Group from $142.00 to $127.00 and set an “equal weight” rating on the stock in a research note on Tuesday, January 7th. Finally, William Blair reissued an “outperform” rating on shares of CAVA Group in a research note on Wednesday, November 13th. Eight equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat.com, CAVA Group has a consensus rating of “Moderate Buy” and a consensus price target of $140.60.

CAVA Group Price Performance

Shares of NYSE CAVA opened at $99.50 on Wednesday. The stock has a market capitalization of $11.40 billion, a P/E ratio of 216.29 and a beta of 3.25. The business’s 50 day moving average is $122.12 and its two-hundred day moving average is $125.97. CAVA Group, Inc. has a 1-year low of $50.37 and a 1-year high of $172.43.

CAVA Group (NYSE:CAVA) last issued its earnings results on Tuesday, February 25th. The company reported $0.05 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.01). The company had revenue of $227.40 million for the quarter, compared to analysts’ expectations of $223.34 million. CAVA Group had a net margin of 5.88% and a return on equity of 9.10%. As a group, equities research analysts anticipate that CAVA Group, Inc. will post 0.5 earnings per share for the current fiscal 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.