Bryce Point Capital LLC Makes New Investment in CAVA Group, Inc. (NYSE:CAVA)

Bryce Point Capital LLC purchased a new position in CAVA Group, Inc. (NYSE:CAVA) in the fourth quarter, HoldingsChannel reports. The institutional investor purchased 17,373 shares of the company’s stock, valued at approximately $1,960,000. CAVA Group makes up about 0.6% of Bryce Point Capital LLC’s holdings, making the stock its 12th largest position.

A number of other large investors have also recently made changes to their positions in the stock. Arcadia Investment Management Corp MI purchased a new position in CAVA Group in the 4th quarter worth $25,000. Allworth Financial LP increased its holdings in shares of CAVA Group by 369.2% in the fourth quarter. Allworth Financial LP now owns 244 shares of the company’s stock valued at $30,000 after purchasing an additional 192 shares during the period. Larson Financial Group LLC increased its holdings in shares of CAVA Group by 274.0% in the fourth quarter. Larson Financial Group LLC now owns 273 shares of the company’s stock valued at $31,000 after purchasing an additional 200 shares during the period. Whittier Trust Co. raised its stake in shares of CAVA Group by 80.9% in the fourth quarter. Whittier Trust Co. now owns 284 shares of the company’s stock worth $32,000 after purchasing an additional 127 shares during the last quarter. Finally, Signaturefd LLC lifted its holdings in shares of CAVA Group by 884.4% during the fourth quarter. Signaturefd LLC now owns 315 shares of the company’s stock worth $36,000 after purchasing an additional 283 shares during the period. 73.15% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on CAVA shares. Wedbush reiterated an “outperform” rating and issued a $150.00 price target on shares of CAVA Group in a report on Wednesday, February 26th. TD Securities reduced their target price on shares of CAVA Group from $150.00 to $130.00 and set a “buy” rating for the company in a report on Wednesday, February 26th. Barclays lowered their price target on shares of CAVA Group from $127.00 to $104.00 and set an “equal weight” rating on the stock in a report on Wednesday, February 26th. Piper Sandler upgraded CAVA Group from a “neutral” rating to an “overweight” rating and reduced their price objective for the company from $142.00 to $115.00 in a research note on Friday, February 28th. Finally, William Blair reissued an “outperform” rating on shares of CAVA Group in a report on Wednesday, February 26th. Six analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $130.25.

Insider Buying and Selling

In other CAVA Group news, CEO Brett Schulman sold 20,564 shares of the firm’s stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $119.18, for a total value of $2,450,817.52. Following the transaction, the chief executive officer now owns 776,369 shares in the company, valued at approximately $92,527,657.42. This trade represents a 2.58 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Tricia K. Tolivar sold 2,086 shares of the company’s 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 sale, the chief financial officer now directly owns 235,592 shares of the company’s stock, valued at $28,077,854.56. The trade was a 0.88 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 29,235 shares of company stock worth $3,514,101. Insiders own 12.10% of the company’s stock.

CAVA Group Stock Performance

CAVA Group stock opened at $86.98 on Wednesday. The stock has a market capitalization of $10.05 billion, a P/E ratio of 189.09 and a beta of 3.58. The company’s fifty day moving average price is $106.73 and its 200 day moving average price is $121.42. CAVA Group, Inc. has a 1 year low of $58.22 and a 1 year high of $172.43.

CAVA Group (NYSE:CAVA) last posted its quarterly earnings data on Tuesday, February 25th. The company reported $0.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.06 by ($0.01). CAVA Group had a net margin of 5.88% and a return on equity of 9.10%. The company had revenue of $227.40 million for the quarter, compared to analysts’ expectations of $223.34 million. Sell-side analysts predict that CAVA Group, Inc. will post 0.5 EPS for the current 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.