KLP Kapitalforvaltning AS Takes $1.85 Million Position in CAVA Group, Inc. (NYSE:CAVA)

KLP Kapitalforvaltning AS purchased a new position in shares of CAVA Group, Inc. (NYSE:CAVA) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 16,400 shares of the company’s stock, valued at approximately $1,850,000.

A number of other large investors also recently bought and sold shares of CAVA. Jennison Associates LLC lifted its position in shares of CAVA Group by 36,658.7% during the fourth quarter. Jennison Associates LLC now owns 2,461,732 shares of the company’s stock worth $277,683,000 after purchasing an additional 2,455,035 shares during the last quarter. Geode Capital Management LLC lifted its holdings in CAVA Group by 121.0% during the 3rd quarter. Geode Capital Management LLC now owns 1,222,834 shares of the company’s stock valued at $151,492,000 after buying an additional 669,599 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in CAVA Group in the 4th quarter valued at about $59,516,000. Charles Schwab Investment Management Inc. grew its stake in CAVA Group by 262.8% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 516,092 shares of the company’s stock worth $63,918,000 after acquiring an additional 373,835 shares in the last quarter. Finally, Two Sigma Advisers LP increased its position in shares of CAVA Group by 17.0% during the third quarter. Two Sigma Advisers LP now owns 2,210,900 shares of the company’s stock worth $273,820,000 after acquiring an additional 321,800 shares during the period. Hedge funds and other institutional investors own 73.15% of the company’s stock.

Insider Activity

In other CAVA Group news, CEO Brett Schulman sold 20,564 shares of CAVA Group stock in a transaction that occurred on Tuesday, January 21st. The shares were sold at an average price of $119.18, for a total transaction of $2,450,817.52. Following the completion of the sale, the chief executive officer now directly owns 776,369 shares in the company, valued at approximately $92,527,657.42. The trade was a 2.58 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, 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 completion of the sale, the chief accounting officer now owns 10,884 shares in the company, valued at $1,353,860.76. The trade was a 5.35 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 29,235 shares of company stock valued at $3,514,101 over the last ninety days. 12.10% of the stock is currently owned by insiders.

CAVA Group Stock Performance

CAVA Group stock opened at $88.60 on Friday. CAVA Group, Inc. has a one year low of $58.22 and a one year high of $172.43. The stock has a market cap of $10.24 billion, a PE ratio of 192.60 and a beta of 3.58. The stock has a 50-day moving average of $108.69 and a two-hundred day moving average of $122.16.

CAVA Group (NYSE:CAVA) last released 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). CAVA Group had a return on equity of 9.10% and a net margin of 5.88%. The company had revenue of $227.40 million during the quarter, compared to analyst estimates of $223.34 million. As a group, sell-side analysts predict that CAVA Group, Inc. will post 0.5 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages recently issued reports on CAVA. Wedbush reiterated an “outperform” rating and issued a $150.00 price target on shares of CAVA Group in a report on Wednesday, February 26th. JPMorgan Chase & Co. upgraded CAVA Group from a “neutral” rating to an “overweight” rating and set a $110.00 price target on the stock in a research note on Thursday, March 20th. Citigroup decreased their price objective on CAVA Group from $163.00 to $140.00 and set a “neutral” rating for the company in a report on Friday, February 21st. TD Securities cut their target price on shares of CAVA Group from $150.00 to $130.00 and set a “buy” rating on the stock in a research report on Wednesday, February 26th. Finally, UBS Group reduced their price target on shares of CAVA Group from $160.00 to $125.00 and set a “neutral” rating for the company in a report on Tuesday, January 7th. Six analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat, CAVA Group currently has a consensus rating of “Moderate Buy” and an average target price of $131.47.

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.