Great Valley Advisor Group Inc. Acquires Shares of 6,619 CAVA Group, Inc. (NYSE:CAVA)

Great Valley Advisor Group Inc. bought a new position in shares of CAVA Group, Inc. (NYSE:CAVA) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 6,619 shares of the company’s stock, valued at approximately $284,000.

Other hedge funds have also recently modified their holdings of the company. Headlands Technologies LLC purchased a new stake in CAVA Group during the 3rd quarter worth approximately $26,000. PNC Financial Services Group Inc. increased its position in shares of CAVA Group by 190.0% during the third quarter. PNC Financial Services Group Inc. now owns 870 shares of the company’s stock worth $27,000 after purchasing an additional 570 shares in the last quarter. Clearstead Advisors LLC acquired a new position in CAVA Group in the 3rd quarter valued at $31,000. Hollencrest Capital Management acquired a new stake in CAVA Group during the 3rd quarter worth $75,000. Finally, Amalgamated Bank purchased a new stake in shares of CAVA Group during the third quarter worth $103,000. Institutional investors and hedge funds own 73.15% of the company’s stock.

CAVA Group Stock Up 3.0 %

Shares of CAVA stock opened at $74.30 on Tuesday. The company has a 50-day moving average of $64.43 and a two-hundred day moving average of $49.25. CAVA Group, Inc. has a 1-year low of $29.05 and a 1-year high of $77.14.

CAVA Group (NYSE:CAVA) last announced its earnings results on Monday, February 26th. The company reported $0.02 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.01 by $0.01. CAVA Group had a return on equity of 4.28% and a net margin of 1.82%. The company had revenue of $175.50 million for the quarter, compared to analyst estimates of $240.03 million. The company’s revenue was up 52.6% on a year-over-year basis. As a group, analysts expect that CAVA Group, Inc. will post 0.25 EPS for the current year.

Insider Activity at CAVA Group

In other news, major shareholder Ronald M. Shaich sold 1,500,000 shares of the stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $57.20, for a total transaction of $85,800,000.00. Following the sale, the insider now owns 4,457,634 shares of the company’s stock, valued at $254,976,664.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Theodoros Xenohristos sold 47,239 shares of the business’s stock in a transaction on Tuesday, March 26th. The stock was sold at an average price of $68.29, for a total transaction of $3,225,951.31. Following the completion of the transaction, the director now directly owns 526,521 shares of the company’s stock, valued at approximately $35,956,119.09. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Ronald M. Shaich sold 1,500,000 shares of the company’s stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $57.20, for a total value of $85,800,000.00. Following the sale, the insider now owns 4,457,634 shares in the company, valued at approximately $254,976,664.80. The disclosure for this sale can be found here. Insiders sold 3,547,239 shares of company stock worth $221,525,951 in the last three months.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on CAVA shares. Piper Sandler boosted their price target on shares of CAVA Group from $46.00 to $63.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 28th. TD Cowen restated a “buy” rating and set a $63.00 target price on shares of CAVA Group in a report on Wednesday, April 10th. Argus raised CAVA Group from a “hold” rating to a “buy” rating and set a $70.00 price objective on the stock in a research note on Wednesday, April 10th. Barclays began coverage on CAVA Group in a report on Monday, April 15th. They set an “equal weight” rating and a $58.00 price target on the stock. Finally, Robert W. Baird upped their price objective on shares of CAVA Group from $54.00 to $62.00 and gave the company an “outperform” rating in a report on Thursday, February 15th. Four research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $60.42.

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.