Corient Private Wealth LLC Purchases 345 Shares of CAVA Group, Inc. (NYSE:CAVA)

Corient Private Wealth LLC grew its holdings in CAVA Group, Inc. (NYSE:CAVA) by 5.4% during the 4th quarter, HoldingsChannel.com reports. The firm owned 6,768 shares of the company’s stock after buying an additional 345 shares during the quarter. Corient Private Wealth LLC’s holdings in CAVA Group were worth $763,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Arcadia Investment Management Corp MI bought a new position in CAVA Group in the 4th quarter valued at $25,000. Allworth Financial LP boosted its stake in CAVA Group by 369.2% during the fourth quarter. Allworth Financial LP now owns 244 shares of the company’s stock valued at $30,000 after buying an additional 192 shares during the period. Larson Financial Group LLC grew its position in CAVA Group by 274.0% during the fourth quarter. Larson Financial Group LLC now owns 273 shares of the company’s stock worth $31,000 after buying an additional 200 shares in the last quarter. Sunbelt Securities Inc. bought a new position in CAVA Group in the 3rd quarter worth about $50,000. Finally, Golden State Wealth Management LLC purchased a new stake in shares of CAVA Group in the 4th quarter valued at about $47,000. Institutional investors own 73.15% of the company’s stock.

CAVA Group Stock Up 2.2 %

Shares of NYSE CAVA opened at $88.60 on Friday. The firm’s fifty day moving average is $108.69 and its 200 day moving average is $122.16. CAVA Group, Inc. has a 52 week low of $58.22 and a 52 week high of $172.43. The company has a market cap of $10.24 billion, a price-to-earnings ratio of 192.60 and a beta of 3.58.

CAVA Group (NYSE:CAVA) last issued its quarterly earnings data on Tuesday, February 25th. The company reported $0.05 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 the consensus estimate of $223.34 million. CAVA Group had a net margin of 5.88% and a return on equity of 9.10%. Equities research analysts anticipate that CAVA Group, Inc. will post 0.5 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on CAVA shares. TD Securities decreased their price objective on shares of CAVA Group from $150.00 to $130.00 and set a “buy” rating on the stock in a research report on Wednesday, February 26th. Barclays decreased their price target on shares of CAVA Group from $127.00 to $104.00 and set an “equal weight” rating on the stock in a report on Wednesday, February 26th. Citigroup cut their target price on shares of CAVA Group from $163.00 to $140.00 and set a “neutral” rating for the company in a research report on Friday, February 21st. JPMorgan Chase & Co. raised CAVA Group from a “neutral” rating to an “overweight” rating and set a $110.00 price target for the company in a research note on Thursday, March 20th. Finally, UBS Group reduced their price objective on CAVA Group from $160.00 to $125.00 and set a “neutral” rating on the stock in a research report on Tuesday, January 7th. Six research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat, CAVA Group currently has a consensus rating of “Moderate Buy” and an average target price of $131.47.

Insiders Place Their Bets

In related news, CEO Brett Schulman sold 20,564 shares of the firm’s stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $119.18, for a total value of $2,450,817.52. Following the completion of the sale, the chief executive officer now owns 776,369 shares of the company’s stock, valued at $92,527,657.42. This trade represents a 2.58 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CAO Adam David Phillips sold 615 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 $76,499.85. Following the transaction, the chief accounting officer now directly owns 10,884 shares in the company, valued at approximately $1,353,860.76. The trade was a 5.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 29,235 shares of company stock worth $3,514,101. 12.10% of the stock is currently owned by company insiders.

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.