Arrowstreet Capital Limited Partnership Purchases 480,900 Shares of CAVA Group, Inc. (NYSE:CAVA)

Arrowstreet Capital Limited Partnership increased its position in shares of CAVA Group, Inc. (NYSE:CAVA) by 62.8% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 1,246,209 shares of the company’s stock after buying an additional 480,900 shares during the quarter. Arrowstreet Capital Limited Partnership’s holdings in CAVA Group were worth $140,572,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of CAVA. Conway Capital Management Inc. bought a new stake in CAVA Group during the third quarter valued at about $5,524,000. Charles Schwab Investment Management Inc. boosted its stake in CAVA Group by 2.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 527,868 shares of the company’s stock valued at $59,544,000 after purchasing an additional 11,776 shares during the period. Entropy Technologies LP acquired a new stake in CAVA Group in the 4th quarter valued at approximately $2,097,000. Empowered Funds LLC bought a new position in CAVA Group in the 4th quarter worth approximately $5,007,000. Finally, Legacy Capital Wealth Partners LLC lifted its holdings in shares of CAVA Group by 71.9% during the fourth quarter. Legacy Capital Wealth Partners LLC now owns 13,658 shares of the company’s stock worth $1,541,000 after buying an additional 5,712 shares during the last quarter. 73.15% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on CAVA. William Blair reaffirmed an “outperform” rating on shares of CAVA Group in a research report on Wednesday, February 26th. Loop Capital dropped their price objective 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. JPMorgan Chase & Co. raised CAVA Group from a “neutral” rating to an “overweight” rating and set a $110.00 target price on the stock in a research report on Thursday, March 20th. UBS Group cut their price target on CAVA Group from $160.00 to $125.00 and set a “neutral” rating for the company in a report on Tuesday, January 7th. Finally, Citigroup decreased their price objective on CAVA Group from $163.00 to $140.00 and set a “neutral” rating on the stock in a report on Friday, February 21st. Six analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $131.47.

Insider Activity at CAVA Group

In other CAVA Group news, CFO Tricia K. Tolivar sold 2,086 shares of the firm’s stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $119.18, for a total value of $248,609.48. Following the completion of the sale, the chief financial officer now owns 235,592 shares in the company, valued at approximately $28,077,854.56. This trade represents a 0.88 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Theodoros Xenohristos sold 851 shares of the company’s 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 transaction, the insider now owns 358,995 shares in the company, valued at $42,785,024.10. The trade was a 0.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 29,235 shares of company stock valued at $3,514,101 in the last three months. Corporate insiders own 12.10% of the company’s stock.

CAVA Group Stock Performance

CAVA opened at $85.75 on Monday. The firm has a market cap of $9.91 billion, a price-to-earnings ratio of 186.41 and a beta of 3.58. The firm’s 50-day simple moving average is $108.04 and its 200-day simple moving average is $121.95. CAVA Group, Inc. has a twelve month low of $58.22 and a twelve month high of $172.43.

CAVA Group (NYSE:CAVA) last issued its quarterly earnings data on Tuesday, February 25th. The company reported $0.05 earnings per share 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 firm had revenue of $227.40 million for the quarter, compared to the consensus estimate of $223.34 million. As a group, sell-side analysts anticipate that CAVA Group, Inc. will post 0.5 EPS for the current fiscal year.

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.