CAVA Group, Inc. (NYSE:CAVA) Shares Purchased by Miracle Mile Advisors LLC

Miracle Mile Advisors LLC raised its holdings in CAVA Group, Inc. (NYSE:CAVA) by 2.1% during the fourth quarter, HoldingsChannel reports. The firm owned 8,097 shares of the company’s stock after buying an additional 170 shares during the period. Miracle Mile Advisors LLC’s holdings in CAVA Group were worth $913,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in CAVA. Brookstone Capital Management increased its holdings in shares of CAVA Group by 21.6% in the fourth quarter. Brookstone Capital Management now owns 11,187 shares of the company’s stock valued at $1,262,000 after purchasing an additional 1,985 shares during the period. Wealth Enhancement Advisory Services LLC increased its stake in CAVA Group by 0.8% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 67,982 shares of the company’s stock valued at $8,420,000 after buying an additional 544 shares during the period. Burkett Financial Services LLC purchased a new position in CAVA Group during the 4th quarter worth $56,000. CWA Asset Management Group LLC acquired a new stake in shares of CAVA Group in the 4th quarter worth $980,000. Finally, Nordea Investment Management AB purchased a new stake in shares of CAVA Group in the fourth quarter valued at about $2,197,000. 73.15% of the stock is owned by hedge funds and other institutional investors.

CAVA Group Trading Up 2.6 %

CAVA Group stock opened at $115.30 on Thursday. The stock has a 50-day moving average price of $129.28 and a 200 day moving average price of $117.23. CAVA Group, Inc. has a 52 week low of $42.65 and a 52 week high of $172.43. The stock has a market cap of $13.21 billion, a PE ratio of 250.65 and a beta of 3.21.

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

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the stock. TD Cowen increased their price target on shares of CAVA Group from $130.00 to $150.00 and gave the stock a “buy” rating in a report on Wednesday, November 13th. Wedbush raised their price target on CAVA Group from $155.00 to $190.00 and gave the company an “outperform” rating in a report on Wednesday, November 13th. Stifel Nicolaus upped their price objective on CAVA Group from $118.00 to $175.00 and gave the stock a “buy” rating in a report on Wednesday, November 13th. Piper Sandler increased their price objective on CAVA Group from $100.00 to $142.00 and gave the stock a “neutral” rating in a research report on Friday, November 15th. Finally, Morgan Stanley boosted their target price on shares of CAVA Group from $123.00 to $135.00 and gave the stock an “equal weight” rating in a research report on Thursday, November 14th. Eight research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $142.13.

Insiders Place Their Bets

In other news, Director Karen Kochevar sold 15,000 shares of the company’s stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $140.00, for a total transaction of $2,100,000.00. Following the completion of the transaction, the director now owns 1,307 shares of the company’s stock, valued at $182,980. This represents a 91.99 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Ronald M. Shaich sold 622,549 shares of the firm’s stock in a transaction that occurred on 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 sale, the director now directly owns 6,307 shares in the company, valued at $942,265.80. This represents a 99.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 652,549 shares of company stock valued at $97,242,271 in the last quarter. 12.10% of the stock is currently owned by company 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.