CAVA Group, Inc. (NYSE:CAVA) Shares Purchased by AQR Capital Management LLC

AQR Capital Management LLC raised its position in CAVA Group, Inc. (NYSE:CAVA) by 50.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 246,984 shares of the company’s stock after acquiring an additional 82,704 shares during the quarter. AQR Capital Management LLC’s holdings in CAVA Group were worth $27,860,000 at the end of the most recent quarter.

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

CAVA Group Price Performance

CAVA Group stock opened at $96.58 on Friday. CAVA Group, Inc. has a 52-week low of $70.00 and a 52-week high of $172.43. The stock has a fifty day moving average price of $86.14 and a two-hundred day moving average price of $114.51. The firm has a market capitalization of $11.17 billion, a P/E ratio of 209.96 and a beta of 3.33.

CAVA Group (NYSE:CAVA) last released 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 business had revenue of $227.40 million for the quarter, compared to analyst estimates of $223.34 million. CAVA Group had a net margin of 5.88% and a return on equity of 9.10%. On average, equities research analysts predict that CAVA Group, Inc. will post 0.5 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the stock. William Blair reissued an “outperform” rating on shares of CAVA Group in a report on Wednesday, February 26th. Wedbush reiterated an “outperform” rating and issued a $150.00 price target on shares of CAVA Group in a research note on Wednesday, February 26th. Sanford C. Bernstein upgraded CAVA Group from a “market perform” rating to an “outperform” rating and set a $115.00 price objective on the stock in a research note on Wednesday, April 23rd. Bank of America began coverage on CAVA Group in a research report on Monday, March 31st. They issued a “buy” rating and a $112.00 target price for the company. Finally, Loop Capital dropped their price target on CAVA Group from $147.00 to $100.00 and set a “hold” rating on the stock in a research report on Thursday, February 27th. Five equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $124.19.

About CAVA Group

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.