Chung Wu Investment Group LLC Invests $372,000 in CAVA Group, Inc. (NYSE:CAVA)

Chung Wu Investment Group LLC purchased a new position in CAVA Group, Inc. (NYSE:CAVA) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 3,300 shares of the company’s stock, valued at approximately $372,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Raymond James Financial Inc. bought a new position in CAVA Group in the fourth quarter worth approximately $59,516,000. Arizona State Retirement System grew its stake in CAVA Group by 41.5% in the fourth quarter. Arizona State Retirement System now owns 23,224 shares of the company’s stock worth $2,620,000 after purchasing an additional 6,808 shares in the last quarter. Proficio Capital Partners LLC bought a new position in CAVA Group in the fourth quarter worth approximately $2,697,000. M&T Bank Corp grew its stake in CAVA Group by 46.0% in the fourth quarter. M&T Bank Corp now owns 9,226 shares of the company’s stock worth $1,041,000 after purchasing an additional 2,906 shares in the last quarter. Finally, Cookson Peirce & Co. Inc. grew its stake in CAVA Group by 55.9% in the fourth quarter. Cookson Peirce & Co. Inc. now owns 10,768 shares of the company’s stock worth $1,215,000 after purchasing an additional 3,861 shares in the last quarter. 73.15% of the stock is currently owned by hedge funds and other institutional investors.

CAVA Group Price Performance

Shares of CAVA stock opened at $86.70 on Thursday. The firm has a market capitalization of $10.02 billion, a price-to-earnings ratio of 188.47 and a beta of 3.25. The business has a fifty day moving average of $118.84 and a 200 day moving average of $125.56. CAVA Group, Inc. has a 1 year low of $57.92 and a 1 year high of $172.43.

CAVA Group (NYSE:CAVA) last issued its earnings results on Tuesday, February 25th. The company reported $0.05 earnings per share (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 analysts’ expectations of $223.34 million. CAVA Group had a return on equity of 9.10% and a net margin of 5.88%. As a group, equities research analysts expect that CAVA Group, Inc. will post 0.5 earnings per share for the current year.

Insider Buying and Selling at CAVA Group

In other CAVA Group news, Director Ronald M. Shaich sold 622,549 shares of CAVA Group stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $149.40, for a total transaction of $93,008,820.60. Following the completion of the transaction, the director now owns 6,307 shares in the company, valued at approximately $942,265.80. This trade represents a 99.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Theodoros Xenohristos sold 851 shares of the firm’s stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $119.18, for a total value of $101,422.18. Following the sale, the insider now owns 358,995 shares in the company, valued at $42,785,024.10. This trade represents a 0.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 651,784 shares of company stock worth $96,522,922. Insiders own 12.10% of the company’s stock.

Analysts Set New Price Targets

Several analysts have issued reports on the company. Sanford C. Bernstein assumed coverage on CAVA Group in a research report on Wednesday, November 20th. They set a “market perform” rating and a $145.00 target price on the stock. Stifel Nicolaus increased their target price on CAVA Group from $118.00 to $175.00 and gave the company a “buy” rating in a research report on Wednesday, November 13th. Morgan Stanley increased their target price on CAVA Group from $123.00 to $135.00 and gave the company an “equal weight” rating in a research report on Thursday, November 14th. TD Cowen increased their target price on CAVA Group from $130.00 to $150.00 and gave the company a “buy” rating in a research report on Wednesday, November 13th. Finally, UBS Group dropped their target price on CAVA Group from $160.00 to $125.00 and set a “neutral” rating on the stock in a research report on Tuesday, January 7th. Seven analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $131.47.

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.