Blueshift Asset Management LLC Trims Stock Position in CAVA Group, Inc. (NYSE:CAVA)

Blueshift Asset Management LLC lowered its holdings in shares of CAVA Group, Inc. (NYSE:CAVA) by 8.0% in the 4th quarter, Holdings Channel.com reports. The firm owned 4,204 shares of the company’s stock after selling 367 shares during the quarter. Blueshift Asset Management LLC’s holdings in CAVA Group were worth $474,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. FMR LLC increased its position in shares of CAVA Group by 0.9% during the 3rd quarter. FMR LLC now owns 3,485,033 shares of the company’s stock valued at $431,621,000 after purchasing an additional 29,668 shares during the last quarter. Jennison Associates LLC increased its position in shares of CAVA Group by 36,658.7% during the 4th quarter. Jennison Associates LLC now owns 2,461,732 shares of the company’s stock valued at $277,683,000 after purchasing an additional 2,455,035 shares during the last quarter. Two Sigma Advisers LP increased its position in shares of CAVA Group by 17.0% during the 3rd quarter. Two Sigma Advisers LP now owns 2,210,900 shares of the company’s stock valued at $273,820,000 after purchasing an additional 321,800 shares during the last quarter. Lord Abbett & CO. LLC increased its position in shares of CAVA Group by 1.5% during the 3rd quarter. Lord Abbett & CO. LLC now owns 1,358,250 shares of the company’s stock valued at $168,219,000 after purchasing an additional 19,493 shares during the last quarter. Finally, State Street Corp increased its position in shares of CAVA Group by 33.3% during the 3rd quarter. State Street Corp now owns 1,267,333 shares of the company’s stock valued at $156,959,000 after purchasing an additional 316,514 shares during the last quarter. Hedge funds and other institutional investors own 73.15% of the company’s stock.

Insider Activity

In related news, CAO Adam David Phillips sold 615 shares of the stock in a transaction on Monday, January 27th. The stock was sold at an average price of $124.39, for a total transaction 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. This represents a 5.35 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Kenneth Robert Bertram sold 678 shares of the stock in a transaction on Monday, January 27th. The shares were sold at an average price of $124.39, for a total value of $84,336.42. Following the sale, the insider now owns 57,312 shares in the company, valued at $7,129,039.68. The trade was a 1.17 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 29,235 shares of company stock worth $3,514,101. 12.10% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on CAVA. William Blair reaffirmed an “outperform” rating on shares of CAVA Group in a research report on Wednesday, February 26th. JPMorgan Chase & Co. raised shares of 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. Loop Capital reduced their target price on shares of CAVA Group from $147.00 to $100.00 and set a “hold” rating for the company in a report on Thursday, February 27th. TD Securities reduced their target price on shares of CAVA Group from $150.00 to $130.00 and set a “buy” rating for the company in a report on Wednesday, February 26th. Finally, Citigroup reduced their target price on shares of CAVA Group from $163.00 to $140.00 and set a “neutral” rating for the company in a report on Friday, February 21st. Six research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat, CAVA Group presently has an average rating of “Moderate Buy” and a consensus price target of $131.47.

CAVA Group Stock Performance

NYSE CAVA opened at $84.69 on Friday. The company has a market capitalization of $9.79 billion, a P/E ratio of 184.10 and a beta of 3.58. CAVA Group, Inc. has a one year low of $58.22 and a one year high of $172.43. The stock has a 50 day moving average price of $111.31 and a 200-day moving average price of $123.09.

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

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.