Mitchell Capital Management Co. Trims Stock Position in CAVA Group, Inc. (NYSE:CAVA)

Mitchell Capital Management Co. cut its stake in CAVA Group, Inc. (NYSE:CAVA) by 84.9% in the fourth quarter, Holdings Channel.com reports. The fund owned 10,588 shares of the company’s stock after selling 59,755 shares during the quarter. Mitchell Capital Management Co.’s holdings in CAVA Group were worth $1,194,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Arcadia Investment Management Corp MI purchased a new stake in CAVA Group in the fourth quarter valued at $25,000. Allworth Financial LP raised its holdings in shares of CAVA Group by 369.2% in the fourth quarter. Allworth Financial LP now owns 244 shares of the company’s stock valued at $30,000 after buying an additional 192 shares during the last quarter. Sunbelt Securities Inc. purchased a new stake in shares of CAVA Group in the third quarter valued at about $50,000. Golden State Wealth Management LLC purchased a new stake in shares of CAVA Group in the fourth quarter valued at about $47,000. Finally, GAMMA Investing LLC raised its holdings in shares of CAVA Group by 37.0% in 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 last quarter. 73.15% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at CAVA Group

In other CAVA Group news, CAO Adam David Phillips sold 615 shares of the firm’s stock in a transaction dated 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 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 position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Ronald M. Shaich sold 622,549 shares of the company’s stock in a transaction dated Monday, December 9th. The shares were 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 approximately $942,265.80. This represents a 99.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 651,784 shares of company stock worth $96,522,922. Insiders own 12.10% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on CAVA shares. Wedbush reaffirmed an “outperform” rating and issued a $150.00 target price on shares of CAVA Group in a report on Wednesday. JPMorgan Chase & Co. upped their target price on shares of CAVA Group from $90.00 to $110.00 and gave the company a “neutral” rating in a report on Wednesday, November 13th. Sanford C. Bernstein started coverage on shares of CAVA Group in a report on Wednesday, November 20th. They issued a “market perform” rating and a $145.00 target price for the company. Morgan Stanley upped their target price on shares of CAVA Group from $123.00 to $135.00 and gave the company an “equal weight” rating in a report on Thursday, November 14th. Finally, William Blair reissued an “outperform” rating on shares of CAVA Group in a report on Wednesday. Seven analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, CAVA Group presently has an average rating of “Moderate Buy” and an average target price of $131.47.

CAVA Group Price Performance

Shares of CAVA opened at $94.98 on Friday. CAVA Group, Inc. has a 1-year low of $56.03 and a 1-year high of $172.43. The stock has a market cap of $10.88 billion, a price-to-earnings ratio of 206.47 and a beta of 3.25. The firm has a 50 day simple moving average of $120.73 and a 200-day simple moving average of $125.57.

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). The company had revenue of $227.40 million during the quarter, compared to analyst estimates of $223.34 million. CAVA Group had a return on equity of 9.10% and a net margin of 5.88%. On average, equities analysts expect that CAVA Group, Inc. will post 0.5 earnings per share for the current fiscal year.

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.