Victrix Investment Advisors Purchases New Position in CAVA Group, Inc. (NYSE:CAVA)

Victrix Investment Advisors acquired a new position in shares of CAVA Group, Inc. (NYSE:CAVA) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 2,598 shares of the company’s stock, valued at approximately $293,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in CAVA. Jennison Associates LLC grew its holdings in shares of CAVA Group by 36,658.7% in the 4th quarter. Jennison Associates LLC now owns 2,461,732 shares of the company’s stock worth $277,683,000 after purchasing an additional 2,455,035 shares during the last quarter. Vanguard Group Inc. lifted its holdings in CAVA Group by 20.4% during the 4th quarter. Vanguard Group Inc. now owns 8,011,602 shares of the company’s stock valued at $903,709,000 after purchasing an additional 1,357,187 shares during the last quarter. Man Group plc boosted its position in CAVA Group by 563.7% in the fourth quarter. Man Group plc now owns 935,075 shares of the company’s stock valued at $105,476,000 after buying an additional 794,187 shares in the last quarter. Barclays PLC grew its stake in CAVA Group by 116.7% during the fourth quarter. Barclays PLC now owns 84,755 shares of the company’s stock worth $9,560,000 after buying an additional 591,866 shares during the last quarter. Finally, Norges Bank bought a new stake in CAVA Group during the fourth quarter worth about $64,538,000. 73.15% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have recently issued reports on CAVA. UBS Group cut their target price on shares of CAVA Group from $125.00 to $112.00 and set a “neutral” rating for the company in a research note on Tuesday, May 13th. JPMorgan Chase & Co. upgraded CAVA Group from a “neutral” rating to an “overweight” rating and set a $110.00 price objective for the company in a research report on Thursday, March 20th. Bank of America assumed coverage on CAVA Group in a research note on Monday, March 31st. They issued a “buy” rating and a $112.00 price objective on the stock. William Blair restated an “outperform” rating on shares of CAVA Group in a research note on Wednesday, February 26th. Finally, Sanford C. Bernstein raised CAVA Group from a “market perform” rating to an “outperform” rating and set a $115.00 price target for the company in a report on Wednesday, April 23rd. Five investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $122.44.

Insider Activity

In related news, insider Theodoros Xenohristos sold 9,348 shares of the business’s stock in a transaction that occurred on Friday, May 9th. The shares were sold at an average price of $94.88, for a total transaction of $886,938.24. Following the completion of the transaction, the insider now owns 353,271 shares in the company, valued at approximately $33,518,352.48. The trade was a 2.58% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 6.80% of the stock is currently owned by company insiders.

CAVA Group Trading Down 2.1%

Shares of NYSE CAVA opened at $97.03 on Monday. CAVA Group, Inc. has a 1 year low of $70.00 and a 1 year high of $172.43. The firm’s 50-day moving average is $88.07 and its 200-day moving average is $111.61. The firm has a market capitalization of $11.22 billion, a PE ratio of 210.93 and a beta of 3.28.

CAVA Group (NYSE:CAVA) last announced its quarterly earnings data on Thursday, May 15th. The company reported $0.22 earnings per share for the quarter, beating the consensus estimate of $0.14 by $0.08. CAVA Group had a net margin of 5.88% and a return on equity of 9.10%. The business had revenue of $331.83 million for the quarter, compared to analyst estimates of $327.98 million. During the same period in the prior year, the business posted $0.12 earnings per share. CAVA Group’s revenue was up 28.1% compared to the same quarter last year. As a group, equities research analysts anticipate that CAVA Group, Inc. will post 0.5 earnings per share for the current fiscal 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.