Newbridge Financial Services Group Inc. Purchases New Position in CAVA Group, Inc. (NYSE:CAVA)

Newbridge Financial Services Group Inc. purchased a new stake in shares of CAVA Group, Inc. (NYSE:CAVA) in the fourth quarter, Holdings Channel.com reports. The firm purchased 760 shares of the company’s stock, valued at approximately $86,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. GAMMA Investing LLC boosted its position in shares of CAVA Group by 68.3% during the third quarter. GAMMA Investing LLC now owns 308 shares of the company’s stock valued at $38,000 after buying an additional 125 shares during the last quarter. Sunbelt Securities Inc. bought a new position in CAVA Group during the 3rd quarter valued at $50,000. Golden State Wealth Management LLC purchased a new position in CAVA Group during the 4th quarter worth $47,000. R Squared Ltd bought a new stake in shares of CAVA Group in the 4th quarter worth $49,000. Finally, Burkett Financial Services LLC purchased a new stake in shares of CAVA Group in the fourth quarter valued at about $56,000. 73.15% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. Wedbush upped their price objective on shares of CAVA Group from $155.00 to $190.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 13th. Piper Sandler increased their price target on 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 reduced their price objective on CAVA Group from $160.00 to $125.00 and set a “neutral” rating for the company in a research note on Tuesday, January 7th. Morgan Stanley lifted their target price on CAVA Group from $123.00 to $135.00 and gave the stock an “equal weight” rating in a research note on Thursday, November 14th. Finally, Loop Capital raised their price objective on shares of CAVA Group from $122.00 to $147.00 and gave the stock a “hold” rating in a report on Thursday, November 14th. Eight equities research 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, CAVA Group presently has an average rating of “Moderate Buy” and a consensus target price of $142.13.

CAVA Group Price Performance

NYSE:CAVA opened at $140.70 on Tuesday. The company has a market cap of $16.12 billion, a P/E ratio of 305.87 and a beta of 3.25. CAVA Group, Inc. has a 1 year low of $48.10 and a 1 year high of $172.43. The stock’s fifty day moving average price is $124.93 and its two-hundred day moving average price is $122.54.

CAVA Group (NYSE:CAVA) last issued its earnings results on Tuesday, November 12th. The company reported $0.15 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 business had revenue of $243.82 million during the quarter, compared to the consensus estimate of $233.05 million. During the same quarter last year, the company earned $0.06 EPS. The firm’s revenue was up 38.9% compared to the same quarter last year. On average, analysts expect that CAVA Group, Inc. will post 0.5 earnings per share for the current fiscal year.

Insider Transactions at CAVA Group

In other CAVA Group news, CFO Tricia K. Tolivar sold 2,086 shares of the company’s stock in a transaction dated Tuesday, January 21st. The stock was sold at an average price of $119.18, for a total value of $248,609.48. Following the transaction, the chief financial officer now directly owns 235,592 shares in the company, valued at $28,077,854.56. This represents a 0.88 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Adam David Phillips sold 615 shares of CAVA Group 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 owns 10,884 shares of the company’s stock, valued at approximately $1,353,860.76. This trade represents a 5.35 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 681,784 shares of company stock valued at $100,756,372. 12.10% of the stock is currently owned by corporate insiders.

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.