Amundi Grows Stock Holdings in CAVA Group, Inc. (NYSE:CAVA)

Amundi lifted its position in CAVA Group, Inc. (NYSE:CAVA) by 1,934.6% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 43,764 shares of the company’s stock after buying an additional 41,613 shares during the quarter. Amundi’s holdings in CAVA Group were worth $5,015,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Fairfield Financial Advisors LTD purchased a new stake in CAVA Group during the fourth quarter worth about $77,000. Larson Financial Group LLC grew its holdings in shares of CAVA Group by 274.0% in the fourth quarter. Larson Financial Group LLC now owns 273 shares of the company’s stock valued at $31,000 after purchasing an additional 200 shares in the last quarter. PNC Financial Services Group Inc. increased its stake in CAVA Group by 13.4% during the 4th quarter. PNC Financial Services Group Inc. now owns 2,443 shares of the company’s stock worth $276,000 after buying an additional 289 shares during the period. Chung Wu Investment Group LLC acquired a new stake in CAVA Group during the 4th quarter worth approximately $372,000. Finally, Raymond James Financial Inc. purchased a new position in CAVA Group in the 4th quarter valued at approximately $59,516,000. Institutional investors and hedge funds own 73.15% of the company’s stock.

Insider Activity

In other news, insider Kenneth Robert Bertram sold 678 shares of the business’s stock in a transaction dated Monday, January 27th. The shares were sold at an average price of $124.39, for a total transaction of $84,336.42. Following the transaction, the insider now directly owns 57,312 shares in the company, valued at $7,129,039.68. The trade was a 1.17 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Tricia K. Tolivar sold 2,086 shares of the firm’s stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $119.18, for a total transaction of $248,609.48. Following the completion of the sale, the chief financial officer now owns 235,592 shares of the company’s stock, valued at approximately $28,077,854.56. The trade was a 0.88 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 29,235 shares of company stock valued at $3,514,101. Company insiders own 12.10% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently issued reports on the company. Piper Sandler upgraded CAVA Group from a “neutral” rating to an “overweight” rating and reduced their price objective for the company from $142.00 to $115.00 in a research note on Friday, February 28th. Barclays reduced their price target on CAVA Group from $127.00 to $104.00 and set an “equal weight” rating on the stock in a research report on Wednesday, February 26th. Loop Capital lowered their price objective on CAVA Group from $147.00 to $100.00 and set a “hold” rating for the company in a research report on Thursday, February 27th. Wedbush reaffirmed an “outperform” rating and issued a $150.00 target price on shares of CAVA Group in a report on Wednesday, February 26th. Finally, Sanford C. Bernstein began coverage on shares of CAVA Group in a research note on Wednesday, November 20th. They issued a “market perform” rating and a $145.00 price target for the company. Seven equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, CAVA Group currently has an average rating of “Moderate Buy” and a consensus price target of $131.47.

CAVA Group Price Performance

Shares of NYSE:CAVA opened at $77.45 on Friday. The stock has a market cap of $8.95 billion, a P/E ratio of 168.37 and a beta of 3.58. CAVA Group, Inc. has a 1-year low of $58.22 and a 1-year high of $172.43. The firm has a fifty day moving average price of $114.08 and a 200 day moving average price of $124.10.

CAVA Group (NYSE:CAVA) last released its quarterly earnings results on Tuesday, February 25th. The company reported $0.05 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.01). The company had revenue of $227.40 million for 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%. Sell-side analysts expect that CAVA Group, Inc. will post 0.5 EPS for the current fiscal year.

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.