Capital Research Global Investors Has $383.75 Million Holdings in CAVA Group, Inc. (NYSE:CAVA)

Capital Research Global Investors lowered its position in shares of CAVA Group, Inc. (NYSE:CAVA) by 10.2% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,402,031 shares of the company’s stock after selling 387,462 shares during the quarter. Capital Research Global Investors owned 2.97% of CAVA Group worth $383,749,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Arcadia Investment Management Corp MI purchased a new stake in shares of CAVA Group in the fourth quarter valued at $25,000. Allworth Financial LP lifted its stake in CAVA Group by 369.2% in the 4th quarter. Allworth Financial LP now owns 244 shares of the company’s stock worth $30,000 after acquiring an additional 192 shares in the last quarter. Larson Financial Group LLC boosted its position in CAVA Group by 274.0% during the 4th quarter. Larson Financial Group LLC now owns 273 shares of the company’s stock worth $31,000 after acquiring an additional 200 shares during the period. Whittier Trust Co. grew its stake in CAVA Group by 80.9% during the 4th quarter. Whittier Trust Co. now owns 284 shares of the company’s stock valued at $32,000 after acquiring an additional 127 shares in the last quarter. Finally, Signaturefd LLC increased its holdings in shares of CAVA Group by 884.4% in the 4th quarter. Signaturefd LLC now owns 315 shares of the company’s stock valued at $36,000 after purchasing an additional 283 shares during the period. Hedge funds and other institutional investors own 73.15% of the company’s stock.

Insider Buying and Selling

In other news, CAO Adam David Phillips sold 615 shares of the stock in a transaction 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 completion of the transaction, the chief accounting officer now owns 10,884 shares in the company, valued at approximately $1,353,860.76. This represents a 5.35 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Theodoros Xenohristos sold 851 shares of CAVA Group stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $119.18, for a total transaction of $101,422.18. Following the sale, the insider now owns 358,995 shares in the company, valued at approximately $42,785,024.10. This trade represents a 0.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 29,235 shares of company stock valued at $3,514,101 over the last three months. 12.10% of the stock is owned by corporate insiders.

CAVA Group Stock Up 0.6 %

Shares of CAVA stock opened at $86.03 on Friday. CAVA Group, Inc. has a 12 month low of $58.22 and a 12 month high of $172.43. The firm has a market cap of $9.94 billion, a PE ratio of 187.03 and a beta of 3.33. The stock has a 50 day moving average of $92.30 and a 200-day moving average of $117.36.

CAVA Group (NYSE:CAVA) last issued its quarterly 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 company had revenue of $227.40 million during the quarter, compared to the consensus estimate of $223.34 million. CAVA Group had a net margin of 5.88% and a return on equity of 9.10%. As a group, equities analysts predict that CAVA Group, Inc. will post 0.5 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms recently commented on CAVA. TD Securities decreased their price target on shares of CAVA Group from $150.00 to $130.00 and set a “buy” rating for the company in a report on Wednesday, February 26th. Citigroup lowered their price target on shares of CAVA Group from $163.00 to $140.00 and set a “neutral” rating on the stock in a report on Friday, February 21st. Bank of America assumed coverage on shares of CAVA Group in a research note on Monday, March 31st. They issued a “buy” rating and a $112.00 price target on the stock. Wedbush reissued an “outperform” rating and set a $150.00 price objective on shares of CAVA Group in a research report on Wednesday, February 26th. Finally, Barclays dropped their target price 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. Six equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $127.56.

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.