Independent Advisor Alliance Raises Stake in CAVA Group, Inc. (NYSE:CAVA)

Independent Advisor Alliance increased its position in shares of CAVA Group, Inc. (NYSE:CAVA) by 36.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 34,708 shares of the company’s stock after acquiring an additional 9,253 shares during the quarter. Independent Advisor Alliance’s holdings in CAVA Group were worth $3,915,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of CAVA. Conway Capital Management Inc. acquired a new stake in shares of CAVA Group in the third quarter worth approximately $5,524,000. Entropy Technologies LP purchased a new stake in shares of CAVA Group during the 4th quarter valued at $2,097,000. Empowered Funds LLC acquired a new stake in shares of CAVA Group during the 4th quarter worth $5,007,000. Charles Schwab Investment Management Inc. raised its position in shares of CAVA Group by 262.8% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 516,092 shares of the company’s stock worth $63,918,000 after buying an additional 373,835 shares during the period. Finally, Legacy Capital Wealth Partners LLC boosted its holdings in CAVA Group by 71.9% in the fourth quarter. Legacy Capital Wealth Partners LLC now owns 13,658 shares of the company’s stock valued at $1,541,000 after acquiring an additional 5,712 shares during the last quarter. 73.15% of the stock is owned by hedge funds and other institutional investors.

CAVA Group Stock Down 0.9 %

Shares of CAVA stock opened at $79.69 on Wednesday. The business’s 50 day moving average is $116.27 and its two-hundred day moving average is $125.05. CAVA Group, Inc. has a 12 month low of $58.22 and a 12 month high of $172.43. The company has a market cap of $9.21 billion, a PE ratio of 173.24 and a beta of 3.58.

CAVA Group (NYSE:CAVA) last released its quarterly 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). CAVA Group had a net margin of 5.88% and a return on equity of 9.10%. The firm had revenue of $227.40 million for the quarter, compared to the consensus estimate of $223.34 million. As a group, equities analysts expect that CAVA Group, Inc. will post 0.5 EPS for the current fiscal year.

Insider Transactions at CAVA Group

In other news, insider Theodoros Xenohristos sold 851 shares of CAVA Group stock in a transaction that occurred on Tuesday, January 21st. The stock was sold at an average price of $119.18, for a total transaction of $101,422.18. Following the sale, the insider now owns 358,995 shares of the company’s stock, valued at approximately $42,785,024.10. This trade represents a 0.24 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Adam David Phillips sold 615 shares of the company’s stock in a transaction on Monday, January 27th. The shares were sold at an average price of $124.39, for a total value of $76,499.85. Following the completion of the transaction, the chief accounting officer now owns 10,884 shares of the company’s stock, valued at $1,353,860.76. The trade was a 5.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 29,235 shares of company stock worth $3,514,101. 12.10% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several research firms recently weighed in on CAVA. Stifel Nicolaus lifted their target price on shares of CAVA Group from $118.00 to $175.00 and gave the company a “buy” rating in a report on Wednesday, November 13th. TD Securities dropped their price target on CAVA Group from $150.00 to $130.00 and set a “buy” rating on the stock in a research report on Wednesday, February 26th. Wedbush restated an “outperform” rating and issued a $150.00 target price on shares of CAVA Group in a research note on Wednesday, February 26th. JPMorgan Chase & Co. boosted their price objective on CAVA Group from $90.00 to $110.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 13th. Finally, Morgan Stanley raised their target price on shares of CAVA Group from $123.00 to $135.00 and gave the company an “equal weight” rating in a research note on Thursday, November 14th. Seven analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $131.47.

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.