Ieq Capital LLC Acquires 7,148 Shares of CAVA Group, Inc. (NYSE:CAVA)

Ieq Capital LLC grew its holdings in CAVA Group, Inc. (NYSE:CAVA) by 261.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 9,885 shares of the company’s stock after buying an additional 7,148 shares during the period. Ieq Capital LLC’s holdings in CAVA Group were worth $1,115,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Conway Capital Management Inc. bought a new position in CAVA Group during the third quarter worth $5,524,000. Entropy Technologies LP acquired a new stake in shares of CAVA Group during the 4th quarter worth about $2,097,000. Empowered Funds LLC bought a new stake in shares of CAVA Group during the 4th quarter worth about $5,007,000. SpiderRock Advisors LLC raised its holdings in CAVA Group by 8.9% in the 3rd quarter. SpiderRock Advisors LLC now owns 479,319 shares of the company’s stock valued at $59,364,000 after acquiring an additional 39,319 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its position in CAVA Group by 262.8% during the third 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 during the last quarter. 73.15% of the stock is currently owned by institutional investors.

Insider Transactions at CAVA Group

In related news, Director Ronald M. Shaich sold 622,549 shares of the business’s stock in a transaction dated 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 approximately $942,265.80. The trade was a 99.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Adam David Phillips sold 615 shares of the business’s stock in a transaction dated Monday, January 27th. The shares were sold at an average price of $124.39, for a total transaction 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. The trade was a 5.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 651,784 shares of company stock valued at $96,522,922 over the last three months. Corporate insiders own 12.10% of the company’s stock.

CAVA Group Trading Down 3.5 %

NYSE CAVA opened at $104.19 on Tuesday. The company has a market cap of $11.94 billion, a P/E ratio of 226.49 and a beta of 3.25. The company has a fifty day simple moving average of $122.60 and a 200 day simple moving average of $125.90. CAVA Group, Inc. has a 12-month low of $50.37 and a 12-month high of $172.43.

Wall Street Analysts Forecast Growth

CAVA has been the topic of several research reports. JPMorgan Chase & Co. upped their target price on CAVA Group from $90.00 to $110.00 and gave the company a “neutral” rating in a research report on Wednesday, November 13th. Loop Capital upped their price objective on CAVA Group from $122.00 to $147.00 and gave the company a “hold” rating in a report on Thursday, November 14th. Piper Sandler lifted their target price on CAVA Group from $100.00 to $142.00 and gave the stock a “neutral” rating in a report on Friday, November 15th. William Blair restated an “outperform” rating on shares of CAVA Group in a research note on Wednesday, November 13th. Finally, TD Cowen lifted their price objective on shares of CAVA Group from $130.00 to $150.00 and gave the stock a “buy” rating in a research note on Wednesday, November 13th. Eight analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $140.60.

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.