Renaissance Technologies LLC Trims Stock Position in CAVA Group, Inc. (NYSE:CAVA)

Renaissance Technologies LLC trimmed its stake in shares of CAVA Group, Inc. (NYSE:CAVA) by 13.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,567,250 shares of the company’s stock after selling 235,765 shares during the period. Renaissance Technologies LLC owned about 1.37% of CAVA Group worth $176,786,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Howard Financial Services LTD. grew its stake in shares of CAVA Group by 1.8% during the 4th quarter. Howard Financial Services LTD. now owns 6,194 shares of the company’s stock worth $699,000 after purchasing an additional 109 shares during the period. GAMMA Investing LLC grew its position in 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 buying an additional 114 shares during the period. Whittier Trust Co. increased its holdings in CAVA Group by 80.9% in the fourth quarter. Whittier Trust Co. now owns 284 shares of the company’s stock valued at $32,000 after buying an additional 127 shares in the last quarter. Mainstream Capital Management LLC raised its position in shares of CAVA Group by 0.7% in the fourth quarter. Mainstream Capital Management LLC now owns 17,758 shares of the company’s stock worth $2,003,000 after acquiring an additional 132 shares during the period. Finally, PSI Advisors LLC grew its position in shares of 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 acquiring an additional 150 shares during the period. 73.15% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the company. Robert W. Baird set a $105.00 price target on CAVA Group and gave the stock an “outperform” rating in a report on Monday. Loop Capital decreased their price objective on shares of CAVA Group from $147.00 to $100.00 and set a “hold” rating on the stock in a report on Thursday, February 27th. Piper Sandler upgraded shares of CAVA Group from a “neutral” rating to an “overweight” rating and reduced their price target for the stock from $142.00 to $115.00 in a research report on Friday, February 28th. Barclays lowered their price objective on CAVA Group from $127.00 to $104.00 and set an “equal weight” rating on the stock in a report on Wednesday, February 26th. Finally, JPMorgan Chase & Co. raised CAVA Group from a “neutral” rating to an “overweight” rating and set a $110.00 target price for the company in a report on Thursday, March 20th. Six investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $127.56.

CAVA Group Stock Performance

CAVA stock opened at $79.24 on Tuesday. The firm has a market cap of $9.16 billion, a PE ratio of 172.25 and a beta of 3.33. CAVA Group, Inc. has a one year low of $58.22 and a one year high of $172.43. The firm’s 50 day moving average price is $103.40 and its 200-day moving average price is $120.25.

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

Insider Transactions at CAVA Group

In related news, CAO Adam David Phillips sold 615 shares of the business’s stock in a transaction on Monday, January 27th. The stock was sold at an average price of $124.39, for a total value of $76,499.85. Following the sale, 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Brett Schulman sold 20,564 shares of CAVA Group stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $119.18, for a total value of $2,450,817.52. Following the completion of the transaction, the chief executive officer now directly owns 776,369 shares of the company’s stock, valued at approximately $92,527,657.42. This represents a 2.58 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 29,235 shares of company stock worth $3,514,101. 12.10% of the stock is currently 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.