Cerity Partners LLC Grows Holdings in CAVA Group, Inc. (NYSE:CAVA)

Cerity Partners LLC raised its holdings in shares of CAVA Group, Inc. (NYSE:CAVA) by 32.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 15,299 shares of the company’s stock after purchasing an additional 3,791 shares during the quarter. Cerity Partners LLC’s holdings in CAVA Group were worth $1,730,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in CAVA. MML Investors Services LLC purchased a new stake in CAVA Group in the 3rd quarter valued at about $288,000. Virtu Financial LLC raised its stake in shares of CAVA Group by 306.9% during the third quarter. Virtu Financial LLC now owns 40,088 shares of the company’s stock valued at $4,965,000 after acquiring an additional 30,235 shares in the last quarter. Sanctuary Advisors LLC boosted its holdings in shares of CAVA Group by 12.9% in the third quarter. Sanctuary Advisors LLC now owns 18,738 shares of the company’s stock valued at $2,321,000 after purchasing an additional 2,147 shares during the period. Wilmington Savings Fund Society FSB bought a new position in CAVA Group in the third quarter worth approximately $286,000. Finally, Lord Abbett & CO. LLC increased its holdings in CAVA Group by 1.5% during the 3rd quarter. Lord Abbett & CO. LLC now owns 1,358,250 shares of the company’s stock worth $168,219,000 after purchasing an additional 19,493 shares during the period. 73.15% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the company. Wedbush reissued an “outperform” rating and set a $150.00 price target on shares of CAVA Group in a research report on Wednesday, February 26th. JPMorgan Chase & Co. upgraded shares of CAVA Group from a “neutral” rating to an “overweight” rating and set a $110.00 target price on the stock in a report on Thursday, March 20th. Bank of America began coverage on shares of CAVA Group in a report on Monday, March 31st. They issued a “buy” rating and a $112.00 price target for the company. TD Securities dropped their price objective on shares of CAVA Group from $150.00 to $130.00 and set a “buy” rating on the stock in a research note on Wednesday, February 26th. Finally, Loop Capital reduced their price objective on shares of CAVA Group from $147.00 to $100.00 and set a “hold” rating for the company in a research note on Thursday, February 27th. Six investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat, CAVA Group presently has an average rating of “Moderate Buy” and an average price target of $127.56.

CAVA Group Price Performance

Shares of CAVA opened at $85.68 on Thursday. CAVA Group, Inc. has a 1-year low of $58.22 and a 1-year high of $172.43. The firm has a market capitalization of $9.90 billion, a PE ratio of 186.26 and a beta of 3.33. The company’s fifty day moving average price is $94.29 and its 200-day moving average price is $117.91.

CAVA Group (NYSE:CAVA) last posted 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 business 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%. As a group, research analysts anticipate that CAVA Group, Inc. will post 0.5 EPS for the current fiscal year.

Insider Activity at CAVA Group

In other CAVA Group news, insider Theodoros Xenohristos sold 851 shares of the business’s stock in a transaction that occurred on Tuesday, January 21st. The stock was sold at an average price of $119.18, for a total transaction of $101,422.18. Following the completion of the sale, the insider now directly owns 358,995 shares in the company, valued at approximately $42,785,024.10. The trade was a 0.24 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Adam David Phillips sold 615 shares of the stock in a transaction that occurred on Monday, January 27th. The shares were sold at an average price of $124.39, for a total value of $76,499.85. Following the transaction, the chief accounting officer now directly owns 10,884 shares of the company’s stock, valued at $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 ninety days, insiders sold 29,235 shares of company stock worth $3,514,101. 12.10% of the stock is owned by corporate insiders.

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.