Y Intercept Hong Kong Ltd bought a new position in CAVA Group, Inc. (NYSE:CAVA – Free Report) in the 4th quarter, HoldingsChannel reports. The fund bought 8,535 shares of the company’s stock, valued at approximately $963,000.
Several other hedge funds also recently made changes to their positions in CAVA. Jennison Associates LLC boosted its holdings in shares of CAVA Group by 36,658.7% in the 4th quarter. Jennison Associates LLC now owns 2,461,732 shares of the company’s stock valued at $277,683,000 after buying an additional 2,455,035 shares during the period. Geode Capital Management LLC grew its holdings in CAVA Group by 121.0% in the 3rd quarter. Geode Capital Management LLC now owns 1,222,834 shares of the company’s stock worth $151,492,000 after buying an additional 669,599 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in CAVA Group by 262.8% in the third quarter. Charles Schwab Investment Management Inc. now owns 516,092 shares of the company’s stock worth $63,918,000 after purchasing an additional 373,835 shares during the period. Two Sigma Advisers LP raised 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 in the last quarter. Finally, State Street Corp lifted its stake in shares of CAVA Group by 33.3% in the 3rd 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 during the period. Institutional investors and hedge funds own 73.15% of the company’s stock.
CAVA Group Trading Down 9.0 %
NYSE CAVA opened at $90.02 on Friday. The company has a market cap of $10.31 billion, a P/E ratio of 195.69 and a beta of 3.25. CAVA Group, Inc. has a 1 year low of $54.21 and a 1 year high of $172.43. The company has a fifty day simple moving average of $121.75 and a 200 day simple moving average of $125.78.
Wall Street Analysts Forecast Growth
A number of research firms have weighed in on CAVA. TD Cowen upped their target price on CAVA Group from $130.00 to $150.00 and gave the stock a “buy” rating in a research report on Wednesday, November 13th. Barclays dropped 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 research report on Wednesday. William Blair reaffirmed an “outperform” rating on shares of CAVA Group in a research note on Wednesday. Robert W. Baird raised their target price on shares of CAVA Group from $125.00 to $148.00 and gave the stock an “outperform” rating in a report on Monday, November 4th. Finally, Citigroup dropped their price target on CAVA Group from $163.00 to $140.00 and set a “neutral” rating on the stock in a report on Friday, February 21st. Eight investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, CAVA Group presently has a consensus rating of “Moderate Buy” and an average price target of $133.27.
Read Our Latest Analysis on CAVA
Insiders Place Their Bets
In other news, insider Theodoros Xenohristos sold 851 shares of the firm’s stock in a transaction that occurred on Tuesday, January 21st. The shares were sold at an average price of $119.18, for a total transaction of $101,422.18. Following the completion of 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Tricia K. Tolivar sold 2,086 shares of the business’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 value of $248,609.48. Following the completion of the transaction, the chief financial officer now directly owns 235,592 shares in the company, valued at $28,077,854.56. The trade was a 0.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 651,784 shares of company stock worth $96,522,922 over the last 90 days. Corporate insiders own 12.10% of the company’s stock.
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.
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