KLP Kapitalforvaltning AS Makes New $1.85 Million Investment in CAVA Group, Inc. (NYSE:CAVA)

KLP Kapitalforvaltning AS bought a new stake in shares of CAVA Group, Inc. (NYSE:CAVA) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 16,400 shares of the company’s stock, valued at approximately $1,850,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Howard Financial Services LTD. boosted its stake in CAVA Group by 1.8% during the fourth quarter. Howard Financial Services LTD. now owns 6,194 shares of the company’s stock worth $699,000 after acquiring an additional 109 shares in the last quarter. GAMMA Investing LLC lifted its holdings in shares of CAVA Group by 37.0% during the fourth quarter. GAMMA Investing LLC now owns 422 shares of the company’s stock valued at $48,000 after purchasing an additional 114 shares during the last quarter. Whittier Trust Co. boosted its position in shares of CAVA Group by 80.9% in the 4th quarter. Whittier Trust Co. now owns 284 shares of the company’s stock worth $32,000 after purchasing an additional 127 shares in the last quarter. Mainstream Capital Management LLC grew its stake in shares of CAVA Group by 0.7% in the 4th quarter. Mainstream Capital Management LLC now owns 17,758 shares of the company’s stock worth $2,003,000 after buying an additional 132 shares during the last quarter. Finally, PSI Advisors LLC increased its position in CAVA Group by 11.3% during the 4th quarter. PSI Advisors LLC now owns 1,473 shares of the company’s stock valued at $166,000 after buying an additional 150 shares in the last quarter. 73.15% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the company. JPMorgan Chase & Co. raised CAVA Group from a “neutral” rating to an “overweight” rating and set a $110.00 target price on the stock in a research note on Thursday, March 20th. UBS Group dropped their price target on shares of CAVA Group from $160.00 to $125.00 and set a “neutral” rating on the stock in a research note on Tuesday, January 7th. Piper Sandler upgraded shares of CAVA Group from a “neutral” rating to an “overweight” rating and reduced their price objective for the company from $142.00 to $115.00 in a research note on Friday, February 28th. Citigroup dropped their target price on shares of CAVA Group from $163.00 to $140.00 and set a “neutral” rating on the stock in a research note on Friday, February 21st. Finally, Barclays cut their price target on shares of CAVA Group from $127.00 to $104.00 and set an “equal weight” rating on the stock in a report on Wednesday, February 26th. Six equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $131.47.

CAVA Group Trading Up 2.2 %

NYSE:CAVA opened at $88.60 on Friday. The business’s 50-day moving average is $108.69 and its 200 day moving average is $122.16. CAVA Group, Inc. has a 12 month low of $58.22 and a 12 month high of $172.43. The company has a market capitalization of $10.24 billion, a P/E ratio of 192.60 and a beta of 3.58.

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

Insider Buying and Selling at CAVA Group

In related news, CFO Tricia K. Tolivar sold 2,086 shares of the stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $119.18, for a total transaction of $248,609.48. Following the sale, the chief financial officer now owns 235,592 shares in the company, valued at approximately $28,077,854.56. This represents a 0.88 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Theodoros Xenohristos sold 851 shares of CAVA Group stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $119.18, for a total transaction of $101,422.18. Following the transaction, the insider now directly owns 358,995 shares of the company’s stock, valued at $42,785,024.10. The trade was a 0.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 29,235 shares of company stock worth $3,514,101 over the last 90 days. 12.10% of the stock is owned by insiders.

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.