Illinois Municipal Retirement Fund Invests $581,000 in CAVA Group, Inc. (NYSE:CAVA)

Illinois Municipal Retirement Fund acquired a new position in CAVA Group, Inc. (NYSE:CAVA) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 5,148 shares of the company’s stock, valued at approximately $581,000.

Other institutional investors have also recently modified their holdings of the company. Arcadia Investment Management Corp MI purchased a new position in shares of CAVA Group in the fourth quarter worth about $25,000. Allworth Financial LP grew its holdings in CAVA Group by 369.2% during the fourth quarter. Allworth Financial LP now owns 244 shares of the company’s stock worth $30,000 after acquiring an additional 192 shares during the period. Golden State Wealth Management LLC acquired a new stake in CAVA Group during the fourth quarter worth about $47,000. GAMMA Investing LLC grew its holdings in CAVA Group by 37.0% during the fourth quarter. GAMMA Investing LLC now owns 422 shares of the company’s stock worth $48,000 after acquiring an additional 114 shares during the period. Finally, R Squared Ltd acquired a new stake in CAVA Group during the fourth quarter worth about $49,000. 73.15% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, Director Ronald M. Shaich sold 622,549 shares of CAVA Group 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 transaction, the director now owns 6,307 shares in the company, valued at approximately $942,265.80. This trade represents a 99.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CAO Adam David Phillips sold 615 shares of CAVA Group stock in a transaction that occurred on Monday, January 27th. The stock was sold at an average price of $124.39, for a total value of $76,499.85. Following the transaction, the chief accounting officer now owns 10,884 shares in the company, valued at approximately $1,353,860.76. The trade was a 5.35 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 651,784 shares of company stock worth $96,522,922. 12.10% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several analysts recently commented on CAVA shares. Sanford C. Bernstein started coverage on CAVA Group in a report on Wednesday, November 20th. They set a “market perform” rating and a $145.00 target price on the stock. Wedbush reaffirmed an “outperform” rating and set a $150.00 target price on shares of CAVA Group in a report on Wednesday, February 26th. UBS Group dropped their target price on CAVA Group from $160.00 to $125.00 and set a “neutral” rating on the stock in a report on Tuesday, January 7th. TD Securities dropped their price objective on CAVA Group from $150.00 to $130.00 and set a “buy” rating on the stock in a report on Wednesday, February 26th. Finally, Barclays dropped their price objective on CAVA Group from $127.00 to $104.00 and set an “equal weight” rating on the stock in a report on Wednesday, February 26th. Seven analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat, CAVA Group presently has a consensus rating of “Moderate Buy” and an average target price of $131.47.

CAVA Group Price Performance

NYSE CAVA opened at $87.55 on Tuesday. The company has a market cap of $10.12 billion, a PE ratio of 190.33 and a beta of 3.25. The stock’s 50 day simple moving average is $120.12 and its 200-day simple moving average is $125.93. CAVA Group, Inc. has a 1-year low of $56.03 and a 1-year high of $172.43.

CAVA Group (NYSE:CAVA) last released its earnings results on Tuesday, February 25th. The company reported $0.05 earnings per share for the quarter, missing the consensus estimate of $0.06 by ($0.01). The firm had revenue of $227.40 million during the quarter, compared to analysts’ expectations of $223.34 million. CAVA Group had a net margin of 5.88% and a return on equity of 9.10%. On average, equities research analysts anticipate that CAVA Group, Inc. will post 0.5 EPS for the current fiscal year.

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.