Sentry Investment Management LLC Buys New Position in CAVA Group, Inc. (NYSE:CAVA)

Sentry Investment Management LLC bought a new stake in CAVA Group, Inc. (NYSE:CAVA) during the fourth quarter, HoldingsChannel.com reports. The fund bought 3,322 shares of the company’s stock, valued at approximately $143,000.

Several other hedge funds also recently modified their holdings of CAVA. Vanguard Group Inc. lifted its stake in shares of CAVA Group by 15.5% during the third quarter. Vanguard Group Inc. now owns 1,460,824 shares of the company’s stock valued at $44,745,000 after buying an additional 196,019 shares during the period. FMR LLC lifted its stake in shares of CAVA Group by 92.1% during the 3rd quarter. FMR LLC now owns 1,138,113 shares of the company’s stock worth $34,860,000 after purchasing an additional 545,799 shares during the period. Jennison Associates LLC boosted its holdings in shares of CAVA Group by 47.4% during the third quarter. Jennison Associates LLC now owns 979,864 shares of the company’s stock worth $30,013,000 after purchasing an additional 314,924 shares during the last quarter. Lord Abbett & CO. LLC grew its position in shares of CAVA Group by 45.2% in the third quarter. Lord Abbett & CO. LLC now owns 768,693 shares of the company’s stock valued at $23,545,000 after purchasing an additional 239,471 shares during the period. Finally, Alliancebernstein L.P. purchased a new stake in shares of CAVA Group in the second quarter valued at $30,364,000. 73.15% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the company. Piper Sandler increased their target price on CAVA Group from $46.00 to $63.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 28th. Wedbush increased their price objective on shares of CAVA Group from $65.00 to $74.00 and gave the stock an “outperform” rating in a report on Tuesday. JPMorgan Chase & Co. boosted their target price on shares of CAVA Group from $50.00 to $64.00 and gave the company an “overweight” rating in a report on Tuesday, March 19th. Morgan Stanley increased their price target on shares of CAVA Group from $62.00 to $68.00 and gave the stock an “overweight” rating in a research note on Friday, April 12th. Finally, Barclays started coverage on shares of CAVA Group in a report on Monday. They issued an “equal weight” rating and a $58.00 price target on the stock. Four research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, CAVA Group presently has a consensus rating of “Moderate Buy” and an average target price of $60.42.

Insider Activity at CAVA Group

In other CAVA Group news, major shareholder Ronald M. Shaich sold 1,500,000 shares of the company’s stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $57.20, for a total value of $85,800,000.00. Following the completion of the transaction, the insider now owns 4,457,634 shares in the company, valued at approximately $254,976,664.80. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, Director International S.C.A. Artal sold 2,000,000 shares of CAVA Group stock in a transaction on Thursday, March 21st. The shares were sold at an average price of $66.25, for a total value of $132,500,000.00. Following the completion of the sale, the director now owns 26,507,990 shares in the company, valued at $1,756,154,337.50. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, major shareholder Ronald M. Shaich sold 1,500,000 shares of the stock in a transaction on Monday, March 4th. The shares were sold at an average price of $57.20, for a total transaction of $85,800,000.00. Following the transaction, the insider now owns 4,457,634 shares in the company, valued at $254,976,664.80. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 3,547,239 shares of company stock worth $221,525,951.

CAVA Group Price Performance

Shares of CAVA stock opened at $61.57 on Thursday. The company’s fifty day simple moving average is $60.95 and its 200-day simple moving average is $46.06. CAVA Group, Inc. has a 52 week low of $29.05 and a 52 week high of $71.60.

CAVA Group (NYSE:CAVA) last released its quarterly earnings data on Monday, February 26th. The company reported $0.02 EPS for the quarter, beating the consensus estimate of $0.01 by $0.01. CAVA Group had a return on equity of 4.28% and a net margin of 1.82%. The company had revenue of $175.50 million for the quarter, compared to analyst estimates of $240.03 million. CAVA Group’s revenue for the quarter was up 52.6% compared to the same quarter last year. As a group, research analysts forecast that CAVA Group, Inc. will post 0.24 earnings per share for the current year.

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.