CAVA Group, Inc. (NYSE:CAVA) Shares Bought by UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in CAVA Group, Inc. (NYSE:CAVA) by 20.4% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 201,762 shares of the company’s stock after buying an additional 34,217 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned 0.18% of CAVA Group worth $22,759,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the business. Arcadia Investment Management Corp MI purchased a new position in CAVA Group in the 4th quarter worth about $25,000. Allworth Financial LP increased its position in shares of CAVA Group by 369.2% in the fourth quarter. Allworth Financial LP now owns 244 shares of the company’s stock worth $30,000 after acquiring an additional 192 shares in the last quarter. Larson Financial Group LLC increased its position in shares of CAVA Group by 274.0% in the fourth quarter. Larson Financial Group LLC now owns 273 shares of the company’s stock worth $31,000 after acquiring an additional 200 shares in the last quarter. Whittier Trust Co. increased its position in shares of CAVA Group by 80.9% in the fourth quarter. Whittier Trust Co. now owns 284 shares of the company’s stock worth $32,000 after acquiring an additional 127 shares in the last quarter. Finally, Signaturefd LLC increased its position in shares of CAVA Group by 884.4% in the fourth quarter. Signaturefd LLC now owns 315 shares of the company’s stock worth $36,000 after acquiring an additional 283 shares in the last quarter. Institutional investors and hedge funds own 73.15% of the company’s stock.

Insider Buying and Selling

In other CAVA Group news, insider Kelly Costanza sold 10,243 shares of the company’s stock in a transaction dated Wednesday, May 21st. The shares were sold at an average price of $86.63, for a total transaction of $887,351.09. Following the completion of the sale, the insider now directly owns 125,347 shares in the company, valued at $10,858,810.61. This represents a 7.55% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Theodoros Xenohristos sold 9,348 shares of the company’s stock in a transaction dated Friday, May 9th. The shares were sold at an average price of $94.88, for a total transaction of $886,938.24. Following the sale, the insider now owns 353,271 shares of the company’s stock, valued at $33,518,352.48. This trade represents a 2.58% decrease in their ownership of the stock. The disclosure for this sale can be found here. 6.80% of the stock is owned by insiders.

CAVA Group Trading Down 1.4%

Shares of NYSE:CAVA opened at $82.29 on Wednesday. The stock has a market capitalization of $9.52 billion, a PE ratio of 178.89 and a beta of 3.28. The firm has a fifty day moving average price of $88.89 and a 200 day moving average price of $109.25. CAVA Group, Inc. has a 1 year low of $70.00 and a 1 year high of $172.43.

CAVA Group (NYSE:CAVA) last released its quarterly earnings results on Thursday, May 15th. The company reported $0.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.14 by $0.08. The company had revenue of $331.83 million during the quarter, compared to the consensus estimate of $327.98 million. CAVA Group had a return on equity of 9.10% and a net margin of 5.88%. The firm’s revenue was up 28.1% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.12 EPS. On average, sell-side analysts forecast that CAVA Group, Inc. will post 0.5 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on CAVA shares. JPMorgan Chase & Co. upgraded shares of CAVA Group from a “neutral” rating to an “overweight” rating and set a $110.00 price objective on the stock in a research report on Thursday, March 20th. Sanford C. Bernstein upgraded CAVA Group from a “market perform” rating to an “outperform” rating and set a $115.00 price target on the stock in a report on Wednesday, April 23rd. Wedbush reaffirmed an “outperform” rating and set a $150.00 target price on shares of CAVA Group in a research note on Wednesday, February 26th. Piper Sandler raised CAVA Group from a “neutral” rating to an “overweight” rating and lowered their target price for the company from $142.00 to $115.00 in a research note on Friday, February 28th. Finally, UBS Group lowered their target price on CAVA Group from $125.00 to $112.00 and set a “neutral” rating on the stock in a research note on Tuesday, May 13th. Five analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $123.00.

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.