Zurcher Kantonalbank Zurich Cantonalbank Invests $204,000 in CAVA Group, Inc. (NYSE:CAVA)

Zurcher Kantonalbank Zurich Cantonalbank acquired a new stake in CAVA Group, Inc. (NYSE:CAVA) during the 4th quarter, Holdings Channel reports. The institutional investor acquired 4,757 shares of the company’s stock, valued at approximately $204,000.

A number of other institutional investors have also modified their holdings of the company. Commonwealth Equity Services LLC grew its stake in CAVA Group by 157.2% during the third quarter. Commonwealth Equity Services LLC now owns 21,267 shares of the company’s stock worth $651,000 after buying an additional 12,999 shares during the period. Raymond James & Associates acquired a new stake in CAVA Group in the 3rd quarter valued at $1,280,000. Raymond James Financial Services Advisors Inc. purchased a new position in CAVA Group in the third quarter valued at about $215,000. Bank of New York Mellon Corp acquired a new position in shares of CAVA Group during the third quarter worth about $952,000. Finally, TD Asset Management Inc purchased a new stake in shares of CAVA Group in the third quarter worth about $1,818,000. Hedge funds and other institutional investors own 73.15% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently commented on the company. Piper Sandler boosted their price target on 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 issued a $63.00 target price on shares of CAVA Group in a research note on Wednesday, April 10th. Robert W. Baird raised their price target 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. Argus upgraded shares of CAVA Group from a “hold” rating to a “buy” rating and set a $70.00 price objective on the stock in a report on Wednesday, April 10th. Finally, Wedbush raised their target price on CAVA Group from $65.00 to $74.00 and gave the company an “outperform” rating in a research note on Tuesday, April 16th. Four research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $60.42.

CAVA Group Trading Down 0.1 %

Shares of NYSE CAVA opened at $74.21 on Wednesday. The business has a 50 day simple moving average of $64.78 and a 200-day simple moving average of $49.54. CAVA Group, Inc. has a twelve month low of $29.05 and a twelve month high of $77.14.

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

Insider Activity at CAVA Group

In other CAVA Group news, Director Theodoros Xenohristos sold 47,239 shares of CAVA Group stock in a transaction that occurred on Tuesday, March 26th. The stock was sold at an average price of $68.29, for a total value of $3,225,951.31. Following the completion of the transaction, the director now directly owns 526,521 shares in the company, valued at $35,956,119.09. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other CAVA Group news, Director Theodoros Xenohristos sold 47,239 shares of the stock in a transaction on Tuesday, March 26th. The stock was sold at an average price of $68.29, for a total value of $3,225,951.31. Following the sale, the director now directly owns 526,521 shares of the company’s stock, valued at $35,956,119.09. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director International S.C.A. Artal sold 2,000,000 shares of the business’s stock in a transaction on Thursday, March 21st. The shares were sold at an average price of $66.25, for a total transaction of $132,500,000.00. Following the transaction, the director now directly owns 26,507,990 shares of the company’s stock, valued at approximately $1,756,154,337.50. The disclosure for this sale can be found here. Insiders sold a total of 3,547,239 shares of company stock valued at $221,525,951 in the last quarter.

CAVA Group 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.