Mainstream Capital Management LLC Buys 132 Shares of CAVA Group, Inc. (NYSE:CAVA)

Mainstream Capital Management LLC raised its stake in shares of CAVA Group, Inc. (NYSE:CAVA) by 0.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 17,758 shares of the company’s stock after purchasing an additional 132 shares during the quarter. CAVA Group accounts for about 1.4% of Mainstream Capital Management LLC’s holdings, making the stock its 14th biggest holding. Mainstream Capital Management LLC’s holdings in CAVA Group were worth $2,003,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also bought and sold shares of the stock. Conway Capital Management Inc. bought a new stake in shares of CAVA Group in the 3rd quarter worth approximately $5,524,000. Entropy Technologies LP bought a new stake in shares of CAVA Group in the 4th quarter worth approximately $2,097,000. Empowered Funds LLC bought a new stake in shares of CAVA Group in the 4th quarter worth approximately $5,007,000. SpiderRock Advisors LLC lifted its holdings in shares of CAVA Group by 8.9% in the 3rd quarter. SpiderRock Advisors LLC now owns 479,319 shares of the company’s stock worth $59,364,000 after acquiring an additional 39,319 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of CAVA Group by 262.8% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 516,092 shares of the company’s stock worth $63,918,000 after acquiring an additional 373,835 shares during the last quarter. 73.15% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

CAVA has been the subject of a number of recent research reports. Piper Sandler upgraded shares of CAVA Group from a “neutral” rating to an “overweight” rating and lowered their price objective for the stock from $142.00 to $115.00 in a report on Friday. Morgan Stanley upped their price target on shares of CAVA Group from $123.00 to $135.00 and gave the company an “equal weight” rating in a report on Thursday, November 14th. William Blair reiterated an “outperform” rating on shares of CAVA Group in a report on Wednesday, February 26th. Sanford C. Bernstein assumed coverage on shares of CAVA Group in a report on Wednesday, November 20th. They set a “market perform” rating and a $145.00 price target for the company. Finally, Loop Capital lowered their price target on shares of CAVA Group from $147.00 to $100.00 and set a “hold” rating for the company in a report on Thursday, February 27th. Seven investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $131.47.

Insider Activity at CAVA Group

In related news, CAO Adam David Phillips sold 615 shares of the stock in a transaction dated Monday, January 27th. The shares were sold at an average price of $124.39, for a total transaction of $76,499.85. Following the sale, the chief accounting officer now directly owns 10,884 shares of the company’s stock, valued at approximately $1,353,860.76. This represents a 5.35 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Brett Schulman sold 20,564 shares of the stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $119.18, for a total transaction of $2,450,817.52. Following the sale, the chief executive officer now directly owns 776,369 shares in the company, valued at $92,527,657.42. This trade represents a 2.58 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 651,784 shares of company stock valued at $96,522,922. 12.10% of the stock is owned by insiders.

CAVA Group Price Performance

NYSE:CAVA opened at $87.55 on Tuesday. The firm’s 50-day moving average price is $120.12 and its 200-day moving average price is $125.93. The company has a market capitalization of $10.12 billion, a PE ratio of 190.33 and a beta of 3.25. 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 analysts’ consensus estimates of $0.06 by ($0.01). The business had revenue of $227.40 million during the quarter, compared to analysts’ expectations of $223.34 million. CAVA Group had a return on equity of 9.10% and a net margin of 5.88%. Equities analysts anticipate that CAVA Group, Inc. will post 0.5 EPS for the current fiscal year.

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.