Ieq Capital LLC Grows Position in CAVA Group, Inc. (NYSE:CAVA)

Ieq Capital LLC grew its stake in shares of CAVA Group, Inc. (NYSE:CAVA) by 261.2% during the 4th quarter, HoldingsChannel reports. The fund owned 9,885 shares of the company’s stock after buying an additional 7,148 shares during the period. Ieq Capital LLC’s holdings in CAVA Group were worth $1,115,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently made changes to their positions in the company. Nwam LLC boosted its position in shares of CAVA Group by 2.6% in the third quarter. Nwam LLC now owns 3,368 shares of the company’s stock valued at $417,000 after acquiring an additional 85 shares during the period. Howard Financial Services LTD. raised its stake in CAVA Group by 1.8% in the fourth quarter. Howard Financial Services LTD. now owns 6,194 shares of the company’s stock valued at $699,000 after purchasing an additional 109 shares in the last quarter. CIBC Asset Management Inc grew its stake in CAVA Group by 3.5% in the 3rd quarter. CIBC Asset Management Inc now owns 3,287 shares of the company’s stock worth $407,000 after buying an additional 110 shares in the last quarter. Farther Finance Advisors LLC increased its stake in CAVA Group by 6.3% in the third quarter. Farther Finance Advisors LLC now owns 1,916 shares of the company’s stock valued at $237,000 after acquiring an additional 113 shares during the last quarter. Finally, GAMMA Investing LLC lifted its stake in CAVA Group by 37.0% during the fourth quarter. GAMMA Investing LLC now owns 422 shares of the company’s stock worth $48,000 after purchasing an additional 114 shares during the last quarter. 73.15% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at CAVA Group

In other news, Director Ronald M. Shaich sold 622,549 shares of the stock in a transaction on 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 transaction, the director now directly owns 6,307 shares of the company’s stock, valued at $942,265.80. This represents a 99.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Theodoros Xenohristos sold 851 shares of the firm’s stock in a transaction dated Tuesday, January 21st. The stock was sold at an average price of $119.18, for a total value of $101,422.18. Following the completion of the transaction, the insider now directly owns 358,995 shares in the company, 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. In the last three months, insiders have sold 651,784 shares of company stock valued at $96,522,922. 12.10% of the stock is owned by corporate insiders.

Analyst Ratings Changes

CAVA has been the topic of a number of research reports. Sanford C. Bernstein assumed coverage on CAVA Group in a report on Wednesday, November 20th. They set a “market perform” rating and a $145.00 price objective on the stock. JPMorgan Chase & Co. lifted their target price on shares of CAVA Group from $90.00 to $110.00 and gave the stock a “neutral” rating in a research note on Wednesday, November 13th. Wedbush increased their price target on shares of CAVA Group from $155.00 to $190.00 and gave the company an “outperform” rating in a research report on Wednesday, November 13th. Piper Sandler boosted their target price on CAVA Group from $100.00 to $142.00 and gave the company a “neutral” rating in a research note on Friday, November 15th. Finally, Barclays decreased their price target on shares of CAVA Group from $142.00 to $127.00 and set an “equal weight” rating for the company in a research note on Tuesday, January 7th. Eight analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $140.60.

CAVA Group Stock Performance

Shares of NYSE CAVA opened at $104.19 on Tuesday. The firm’s 50 day moving average price is $122.60 and its 200-day moving average price is $125.90. CAVA Group, Inc. has a 52-week low of $50.37 and a 52-week high of $172.43. The company has a market cap of $11.94 billion, a PE ratio of 226.49 and a beta of 3.25.

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.