EAM Investors LLC Sells 1,153 Shares of CAVA Group, Inc. (NYSE:CAVA)

EAM Investors LLC lessened its holdings in shares of CAVA Group, Inc. (NYSE:CAVA) by 2.2% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 50,272 shares of the company’s stock after selling 1,153 shares during the period. CAVA Group accounts for approximately 0.8% of EAM Investors LLC’s holdings, making the stock its 16th biggest position. EAM Investors LLC’s holdings in CAVA Group were worth $5,671,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Jennison Associates LLC boosted its holdings in CAVA Group by 36,658.7% in the fourth quarter. Jennison Associates LLC now owns 2,461,732 shares of the company’s stock worth $277,683,000 after acquiring an additional 2,455,035 shares in the last quarter. Vanguard Group Inc. boosted its stake in CAVA Group by 20.4% in the 4th quarter. Vanguard Group Inc. now owns 8,011,602 shares of the company’s stock worth $903,709,000 after purchasing an additional 1,357,187 shares in the last quarter. Geode Capital Management LLC boosted its stake in CAVA Group by 121.0% in the 3rd quarter. Geode Capital Management LLC now owns 1,222,834 shares of the company’s stock worth $151,492,000 after purchasing an additional 669,599 shares in the last quarter. Barclays PLC grew its position in CAVA Group by 116.7% during the 4th quarter. Barclays PLC now owns 84,755 shares of the company’s stock valued at $9,560,000 after purchasing an additional 591,866 shares during the last quarter. Finally, Norges Bank bought a new stake in CAVA Group during the 4th quarter valued at about $64,538,000. 73.15% of the stock is owned by hedge funds and other institutional investors.

CAVA Group Stock Performance

NYSE:CAVA opened at $88.23 on Wednesday. The stock has a 50-day simple moving average of $95.34 and a two-hundred day simple moving average of $118.13. The firm has a market capitalization of $10.20 billion, a PE ratio of 191.80 and a beta of 3.33. CAVA Group, Inc. has a 52-week low of $58.22 and a 52-week high of $172.43.

CAVA Group (NYSE:CAVA) last announced its quarterly earnings data 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). CAVA Group had a net margin of 5.88% and a return on equity of 9.10%. The company had revenue of $227.40 million for the quarter, compared to the consensus estimate of $223.34 million. Equities analysts forecast that CAVA Group, Inc. will post 0.5 earnings per share for the current fiscal year.

Insider Transactions at CAVA Group

In related news, CFO Tricia K. Tolivar sold 2,086 shares of the business’s stock in a transaction that occurred on Tuesday, January 21st. The stock was sold at an average price of $119.18, for a total value of $248,609.48. Following the transaction, the chief financial officer now directly owns 235,592 shares of the company’s stock, valued at approximately $28,077,854.56. The trade was a 0.88 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Adam David Phillips sold 615 shares of the stock in a transaction that occurred on Monday, January 27th. The shares were sold at an average price of $124.39, for a total transaction of $76,499.85. Following the sale, the chief accounting officer now directly owns 10,884 shares of the company’s stock, valued at approximately $1,353,860.76. This trade represents a 5.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 29,235 shares of company stock valued at $3,514,101 over the last three months. Corporate insiders own 12.10% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on CAVA shares. Robert W. Baird set a $105.00 price target on shares of CAVA Group and gave the company an “outperform” rating in a report on Monday, April 7th. JPMorgan Chase & Co. upgraded 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. Loop Capital decreased their price target on CAVA Group from $147.00 to $100.00 and set a “hold” rating for the company in a research note on Thursday, February 27th. Wedbush reaffirmed an “outperform” rating and set a $150.00 price objective on shares of CAVA Group in a research report on Wednesday, February 26th. Finally, UBS Group reduced their price objective on CAVA Group from $160.00 to $125.00 and set a “neutral” rating for the company in a report on Tuesday, January 7th. Six investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $127.56.

About CAVA Group

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.