CWA Asset Management Group LLC Invests $980,000 in CAVA Group, Inc. (NYSE:CAVA)

CWA Asset Management Group LLC bought a new position in shares of CAVA Group, Inc. (NYSE:CAVA) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 8,687 shares of the company’s stock, valued at approximately $980,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Nemes Rush Group LLC acquired a new position in shares of CAVA Group in the 2nd quarter worth $28,000. Mark Sheptoff Financial Planning LLC purchased a new position in CAVA Group in the 2nd quarter worth about $36,000. Headlands Technologies LLC acquired a new stake in CAVA Group during the 2nd quarter worth about $37,000. GAMMA Investing LLC lifted its stake in 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 in the last quarter. Finally, Sunbelt Securities Inc. acquired a new position in shares of CAVA Group in the third quarter worth about $50,000. Institutional investors and hedge funds own 73.15% of the company’s stock.

Insiders Place Their Bets

In related news, Director Ronald M. Shaich sold 622,549 shares of the business’s stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $149.40, for a total transaction of $93,008,820.60. Following the completion of the transaction, the director now owns 6,307 shares of the company’s stock, valued at approximately $942,265.80. The trade was a 99.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Karen Kochevar sold 15,000 shares of the firm’s stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $140.00, for a total value of $2,100,000.00. Following the completion of the sale, the director now directly owns 1,307 shares in the company, valued at $182,980. This trade represents a 91.99 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 652,549 shares of company stock valued at $97,242,271 over the last 90 days. 12.10% of the stock is currently owned by company insiders.

CAVA Group Stock Down 5.2 %

Shares of CAVA opened at $112.71 on Wednesday. CAVA Group, Inc. has a 12 month low of $40.05 and a 12 month high of $172.43. The company’s fifty day moving average is $131.70 and its 200-day moving average is $116.49. The firm has a market cap of $12.91 billion, a price-to-earnings ratio of 245.02 and a beta of 3.21.

CAVA Group (NYSE:CAVA) last announced its quarterly earnings results on Tuesday, November 12th. The company reported $0.15 earnings per share for the quarter, topping analysts’ consensus estimates of $0.11 by $0.04. The company had revenue of $243.82 million during the quarter, compared to analysts’ expectations of $233.05 million. CAVA Group had a return on equity of 9.10% and a net margin of 5.88%. The business’s quarterly revenue was up 38.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.06 earnings per share. As a group, research analysts predict that CAVA Group, Inc. will post 0.5 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

CAVA has been the topic of a number of recent analyst reports. William Blair restated an “outperform” rating on shares of CAVA Group in a report on Wednesday, November 13th. Piper Sandler boosted their target price on shares of CAVA Group from $100.00 to $142.00 and gave the company a “neutral” rating in a research note on Friday, November 15th. Citigroup raised their target price on CAVA Group from $140.00 to $163.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 13th. UBS Group dropped their price target on CAVA Group from $160.00 to $125.00 and set a “neutral” rating on the stock in a research report on Tuesday. Finally, Loop Capital raised their price objective on CAVA Group from $122.00 to $147.00 and gave the stock a “hold” rating in a research report on Thursday, November 14th. Eight equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $142.13.

CAVA Group 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.