Parallax Volatility Advisers L.P. Sells 2,033 Shares of CAVA Group, Inc. (NYSE:CAVA)

Parallax Volatility Advisers L.P. cut its stake in CAVA Group, Inc. (NYSE:CAVA) by 17.5% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 9,614 shares of the company’s stock after selling 2,033 shares during the period. Parallax Volatility Advisers L.P.’s holdings in CAVA Group were worth $1,084,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Charles Schwab Investment Management Inc. lifted its stake in shares of CAVA Group by 2.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 527,868 shares of the company’s stock valued at $59,544,000 after buying an additional 11,776 shares during the period. Entropy Technologies LP bought a new stake in shares of CAVA Group in the 4th quarter worth approximately $2,097,000. Empowered Funds LLC acquired a new stake in shares of CAVA Group during the 4th quarter worth approximately $5,007,000. Legacy Capital Wealth Partners LLC increased its position in shares of CAVA Group by 71.9% during the fourth quarter. Legacy Capital Wealth Partners LLC now owns 13,658 shares of the company’s stock valued at $1,541,000 after purchasing an additional 5,712 shares during the period. Finally, Jennison Associates LLC raised its stake in shares of CAVA Group by 36,658.7% in the fourth 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 in the last quarter. 73.15% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, CEO Brett Schulman sold 2,936 shares of the company’s stock in a transaction that occurred on Monday, January 27th. The shares were sold at an average price of $124.39, for a total value of $365,209.04. Following the completion of the transaction, the chief executive officer now owns 773,433 shares in the company, valued at $96,207,330.87. This represents a 0.38 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Tricia K. Tolivar sold 1,505 shares of the business’s stock in a transaction on Monday, January 27th. The shares were sold at an average price of $124.39, for a total transaction of $187,206.95. Following the completion of the sale, the chief financial officer now directly owns 234,087 shares in the company, valued at $29,118,081.93. This represents a 0.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 5,734 shares of company stock valued at $713,252 in the last 90 days. 12.10% of the stock is owned by company insiders.

CAVA Group Trading Down 0.3 %

Shares of CAVA stock opened at $90.74 on Friday. CAVA Group, Inc. has a 1 year low of $66.15 and a 1 year high of $172.43. The firm’s 50 day moving average is $87.76 and its 200-day moving average is $115.89. The firm has a market capitalization of $10.49 billion, a price-to-earnings ratio of 197.26 and a beta of 3.33.

CAVA Group (NYSE:CAVA) last posted its quarterly earnings data on Tuesday, February 25th. The company reported $0.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.06 by ($0.01). The firm had revenue of $227.40 million for 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 research analysts forecast that CAVA Group, Inc. will post 0.5 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms have weighed in on CAVA. JPMorgan Chase & Co. upgraded shares of 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 lowered their target price on shares of CAVA Group from $163.00 to $140.00 and set a “neutral” rating on the stock in a research note on Friday, February 21st. William Blair restated an “outperform” rating on shares of CAVA Group in a research note on Wednesday, February 26th. Barclays lowered their price objective on CAVA Group from $104.00 to $90.00 and set an “equal weight” rating on the stock in a research note on Tuesday, April 22nd. Finally, Bank of America initiated coverage on CAVA Group in a research report on Monday, March 31st. They set a “buy” rating and a $112.00 target price for the company. Five analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat.com, CAVA Group currently has an average rating of “Moderate Buy” and a consensus price target of $124.19.

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.