Sentry Investment Management LLC Buys Shares of 3,322 CAVA Group, Inc. (NYSE:CAVA)

Sentry Investment Management LLC purchased 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 institutional investor purchased 3,322 shares of the company’s stock, valued at approximately $143,000.

A number of other hedge funds also recently modified their holdings of the business. PNC Financial Services Group Inc. lifted its stake in CAVA Group by 190.0% in the 3rd quarter. PNC Financial Services Group Inc. now owns 870 shares of the company’s stock valued at $27,000 after acquiring an additional 570 shares in the last quarter. State Board of Administration of Florida Retirement System bought a new position in CAVA Group during the 3rd quarter worth $449,000. Brandywine Global Investment Management LLC bought a new stake in CAVA Group during the third quarter worth about $1,937,000. New York State Common Retirement Fund lifted its stake in CAVA Group by 172.5% during the third quarter. New York State Common Retirement Fund now owns 46,377 shares of the company’s stock worth $1,421,000 after purchasing an additional 29,358 shares during the last quarter. Finally, Raymond James & Associates raised its stake in CAVA Group by 299.4% during the fourth quarter. Raymond James & Associates now owns 166,946 shares of the company’s stock worth $7,175,000 after acquiring an additional 125,143 shares in the last quarter. Institutional investors and hedge funds own 73.15% of the company’s stock.

Wall Street Analyst Weigh In

CAVA has been the topic of a number of recent research reports. Piper Sandler lifted their price target on shares of CAVA Group from $46.00 to $63.00 and gave the stock an “overweight” rating in a report on Wednesday, February 28th. Barclays started coverage on CAVA Group in a research note on Monday. They set an “equal weight” rating and a $58.00 price target on the stock. Citigroup upped their target price on shares of CAVA Group from $49.00 to $60.00 and gave the stock a “neutral” rating in a report on Wednesday, February 28th. William Blair restated an “outperform” rating on shares of CAVA Group in a report on Tuesday, February 27th. Finally, Argus raised shares of CAVA Group from a “hold” rating to a “buy” rating and set a $70.00 price target on the stock in a report on Wednesday, April 10th. Four analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $60.42.

Insiders Place Their Bets

In other CAVA Group news, major shareholder Ronald M. Shaich sold 1,500,000 shares of the firm’s stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $57.20, for a total transaction of $85,800,000.00. Following the transaction, the insider now owns 4,457,634 shares of the company’s stock, valued at approximately $254,976,664.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, Director Theodoros Xenohristos sold 47,239 shares of the stock in a transaction that occurred on Tuesday, March 26th. The shares were sold at an average price of $68.29, for a total value of $3,225,951.31. Following the completion of the transaction, the director now directly owns 526,521 shares of the company’s stock, valued at approximately $35,956,119.09. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Ronald M. Shaich sold 1,500,000 shares of the business’s stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $57.20, for a total transaction of $85,800,000.00. Following the sale, the insider now directly owns 4,457,634 shares in the company, valued at approximately $254,976,664.80. The disclosure for this sale can be found here. Insiders have sold 3,547,239 shares of company stock worth $221,525,951 in the last three months.

CAVA Group Stock Down 2.1 %

Shares of NYSE:CAVA opened at $61.57 on Thursday. CAVA Group, Inc. has a 12 month low of $29.05 and a 12 month high of $71.60. The company has a 50-day moving average price of $60.95 and a 200 day moving average price of $46.06.

CAVA Group (NYSE:CAVA) last issued its quarterly earnings results on Monday, February 26th. The company reported $0.02 EPS for the quarter, beating the consensus estimate of $0.01 by $0.01. The company had revenue of $175.50 million for the quarter, compared to the consensus estimate of $240.03 million. CAVA Group had a net margin of 1.82% and a return on equity of 4.28%. The firm’s revenue was up 52.6% compared to the same quarter last year. Research analysts expect that CAVA Group, Inc. will post 0.24 earnings per share 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.