Magnus Financial Group LLC Increases Stock Position in CAVA Group, Inc. (NYSE:CAVA)

Magnus Financial Group LLC raised its stake in shares of CAVA Group, Inc. (NYSE:CAVA) by 13.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 5,772 shares of the company’s stock after acquiring an additional 681 shares during the period. Magnus Financial Group LLC’s holdings in CAVA Group were worth $651,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in CAVA. Conway Capital Management Inc. acquired a new stake in CAVA Group in the 3rd quarter valued at approximately $5,524,000. SpiderRock Advisors LLC grew its stake in shares of CAVA Group by 8.9% in the third quarter. SpiderRock Advisors LLC now owns 479,319 shares of the company’s stock valued at $59,364,000 after buying an additional 39,319 shares in the last quarter. Xponance Inc. raised its holdings in shares of CAVA Group by 95.2% in the 2nd quarter. Xponance Inc. now owns 9,846 shares of the company’s stock valued at $913,000 after buying an additional 4,803 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in CAVA Group by 262.8% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 516,092 shares of the company’s stock worth $63,918,000 after acquiring an additional 373,835 shares in the last quarter. Finally, PFG Investments LLC boosted its holdings in CAVA Group by 36.8% during the 3rd quarter. PFG Investments LLC now owns 15,907 shares of the company’s stock valued at $1,970,000 after acquiring an additional 4,275 shares during the period. 73.15% of the stock is owned by hedge funds and other institutional investors.

CAVA Group Price Performance

NYSE CAVA opened at $123.51 on Thursday. The firm’s fifty day moving average price is $126.66 and its 200 day moving average price is $118.09. CAVA Group, Inc. has a 12 month low of $44.80 and a 12 month high of $172.43. The company has a market capitalization of $14.15 billion, a price-to-earnings ratio of 268.51 and a beta of 3.21.

CAVA Group (NYSE:CAVA) last issued its quarterly earnings data on Tuesday, November 12th. The company reported $0.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.11 by $0.04. CAVA Group had a return on equity of 9.10% and a net margin of 5.88%. The company had revenue of $243.82 million for the quarter, compared to analyst estimates of $233.05 million. During the same quarter last year, the company posted $0.06 earnings per share. The business’s quarterly revenue was up 38.9% compared to the same quarter last year. As a group, sell-side analysts forecast that CAVA Group, Inc. will post 0.5 earnings per share for the current year.

Analysts Set New Price Targets

Several analysts have recently issued reports on the stock. Robert W. Baird increased their price target on shares of CAVA Group from $125.00 to $148.00 and gave the stock an “outperform” rating in a research report on Monday, November 4th. UBS Group decreased their price target on shares of CAVA Group from $160.00 to $125.00 and set a “neutral” rating for the company in a research report on Tuesday, January 7th. Citigroup upped their price objective on CAVA Group from $140.00 to $163.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 13th. Sanford C. Bernstein assumed coverage on CAVA Group in a report on Wednesday, November 20th. They issued a “market perform” rating and a $145.00 target price for the company. Finally, JPMorgan Chase & Co. upped their price target on CAVA Group from $90.00 to $110.00 and gave the stock a “neutral” rating in a report on Wednesday, November 13th. Eight analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $142.13.

Insiders Place Their Bets

In other news, Director Ronald M. Shaich sold 622,549 shares of CAVA Group stock in a transaction on Monday, December 9th. The shares were sold at an average price of $149.40, for a total value of $93,008,820.60. Following the transaction, the director now directly owns 6,307 shares of the company’s stock, valued at $942,265.80. The trade was a 99.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Karen Kochevar sold 15,000 shares of the stock in a transaction on Friday, November 15th. The stock was sold at an average price of $140.00, for a total transaction of $2,100,000.00. Following the sale, the director now owns 1,307 shares of the company’s stock, valued at approximately $182,980. This represents a 91.99 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 652,549 shares of company stock valued at $97,242,271 over the last quarter. Company insiders own 12.10% of the company’s stock.

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.