CAVA Group, Inc. (NYSE:CAVA) Shares Purchased by Numerai GP LLC

Numerai GP LLC raised its stake in CAVA Group, Inc. (NYSE:CAVA) by 6.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 18,306 shares of the company’s stock after buying an additional 1,146 shares during the period. Numerai GP LLC’s holdings in CAVA Group were worth $2,065,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Jennison Associates LLC increased its stake in shares of CAVA Group by 36,658.7% during the 4th quarter. Jennison Associates LLC now owns 2,461,732 shares of the company’s stock worth $277,683,000 after purchasing an additional 2,455,035 shares in the last quarter. Vanguard Group Inc. raised its holdings in shares of CAVA Group by 20.4% in the fourth quarter. Vanguard Group Inc. now owns 8,011,602 shares of the company’s stock worth $903,709,000 after acquiring an additional 1,357,187 shares during the last quarter. Barclays PLC lifted its position in shares of CAVA Group by 116.7% in the fourth quarter. Barclays PLC now owns 84,755 shares of the company’s stock valued at $9,560,000 after acquiring an additional 591,866 shares in the last quarter. Norges Bank acquired a new stake in shares of CAVA Group during the fourth quarter valued at $64,538,000. Finally, Raymond James Financial Inc. acquired a new position in CAVA Group in the 4th quarter valued at about $59,516,000. 73.15% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, insider Theodoros Xenohristos sold 9,348 shares of the firm’s stock in a transaction that occurred on Friday, May 9th. The shares were sold at an average price of $94.88, for a total transaction of $886,938.24. Following the completion of the sale, the insider now directly owns 353,271 shares in the company, valued at approximately $33,518,352.48. This trade represents a 2.58% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 6.80% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the stock. Barclays cut their price objective on shares of CAVA Group from $104.00 to $90.00 and set an “equal weight” rating for the company in a research report on Tuesday, April 22nd. Citigroup dropped their price target on shares of CAVA Group from $163.00 to $140.00 and set a “neutral” rating for the company in a research report on Friday, February 21st. Loop Capital reduced their price objective on CAVA Group from $147.00 to $100.00 and set a “hold” rating on the stock in a research note on Thursday, February 27th. Robert W. Baird set a $105.00 price target on shares of CAVA Group and gave the stock an “outperform” rating in a research report on Monday, April 7th. Finally, Bank of America assumed coverage on shares of CAVA Group in a research report on Monday, March 31st. They issued a “buy” rating and a $112.00 price objective for the company. Five research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $123.38.

CAVA Group Trading Up 1.0%

CAVA stock opened at $99.77 on Wednesday. The firm’s 50-day moving average is $86.70 and its two-hundred day moving average is $112.64. The company has a market capitalization of $11.54 billion, a price-to-earnings ratio of 216.89 and a beta of 3.28. CAVA Group, Inc. has a 52 week low of $70.00 and a 52 week high of $172.43.

CAVA Group (NYSE:CAVA) last posted its quarterly earnings data on Tuesday, February 25th. The company reported $0.05 EPS for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.01). The firm had revenue of $227.40 million during the quarter, compared to the consensus estimate of $223.34 million. CAVA Group had a return on equity of 9.10% and a net margin of 5.88%. On average, equities research analysts predict that CAVA Group, Inc. will post 0.5 earnings per share for the current 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.