Everence Capital Management Inc. Makes New $271,000 Investment in CAVA Group, Inc. (NYSE:CAVA)

Everence Capital Management Inc. acquired a new stake in 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 acquired 2,400 shares of the company’s stock, valued at approximately $271,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Nemes Rush Group LLC purchased a new position in shares of CAVA Group during the 2nd quarter worth about $28,000. Mark Sheptoff Financial Planning LLC purchased a new position in CAVA Group during the second quarter worth approximately $36,000. Headlands Technologies LLC acquired a new position in shares of CAVA Group in the 2nd quarter valued at $37,000. GAMMA Investing LLC grew its stake in shares of CAVA Group by 68.3% during the 3rd quarter. GAMMA Investing LLC now owns 308 shares of the company’s stock valued at $38,000 after buying an additional 125 shares during the period. Finally, Sunbelt Securities Inc. acquired a new stake in shares of CAVA Group during the 3rd quarter worth $50,000. Hedge funds and other institutional investors own 73.15% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have issued reports on CAVA. Barclays lowered their price target on CAVA Group from $142.00 to $127.00 and set an “equal weight” rating for the company in a research report on Tuesday. Loop Capital boosted their target price on CAVA Group from $122.00 to $147.00 and gave the stock a “hold” rating in a report on Thursday, November 14th. TD Securities raised their price target on shares of CAVA Group from $115.00 to $130.00 and gave the company a “buy” rating in a report on Tuesday, September 24th. UBS Group decreased their price objective on shares of CAVA Group from $160.00 to $125.00 and set a “neutral” rating for the company in a research note on Tuesday. Finally, Wedbush raised their target price on shares of CAVA Group from $155.00 to $190.00 and gave the company an “outperform” rating in a research note on Wednesday, November 13th. Eight research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $142.13.

Insider Buying and Selling at CAVA Group

In other CAVA Group news, Director Karen Kochevar sold 15,000 shares of the stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $142.23, for a total transaction of $2,133,450.00. Following the transaction, the director now owns 1,307 shares of the company’s stock, valued at $185,894.61. This trade represents a 91.99 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Ronald M. Shaich sold 622,549 shares of CAVA Group stock in a transaction on Monday, December 9th. The stock was sold at an average price of $149.40, for a total transaction of $93,008,820.60. Following the completion of the transaction, the director now directly owns 6,307 shares of the company’s stock, valued at approximately $942,265.80. This represents a 99.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 652,549 shares of company stock worth $97,242,271 in the last ninety days. 12.10% of the stock is owned by insiders.

CAVA Group Stock Performance

Shares of NYSE CAVA opened at $112.71 on Wednesday. CAVA Group, Inc. has a 1 year low of $40.05 and a 1 year high of $172.43. The stock’s 50-day simple moving average is $131.70 and its 200-day simple moving average is $116.49. The firm has a market cap of $12.91 billion, a price-to-earnings ratio of 245.02 and a beta of 3.21.

CAVA Group (NYSE:CAVA) last announced its earnings results on Tuesday, November 12th. The company reported $0.15 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.11 by $0.04. CAVA Group had a return on equity of 9.10% and a net margin of 5.88%. The company had revenue of $243.82 million for the quarter, compared to analyst estimates of $233.05 million. During the same period in the prior year, the company posted $0.06 EPS. CAVA Group’s quarterly revenue was up 38.9% on a year-over-year basis. As a group, research analysts predict that CAVA Group, Inc. will post 0.5 EPS for the current year.

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.