Worldquant Millennium Advisors LLC Purchases New Shares in CAVA Group, Inc. (NYSE:CAVA)

Worldquant Millennium Advisors LLC acquired a new stake in shares of CAVA Group, Inc. (NYSE:CAVA) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund acquired 8,929 shares of the company’s stock, valued at approximately $1,007,000.

Other institutional investors have also added to or reduced their stakes in the company. Arcadia Investment Management Corp MI purchased a new position in shares of CAVA Group during the fourth quarter valued at about $25,000. Allworth Financial LP raised its position in shares of CAVA Group by 369.2% in the 4th quarter. Allworth Financial LP now owns 244 shares of the company’s stock worth $30,000 after acquiring an additional 192 shares in the last quarter. Larson Financial Group LLC lifted its stake in shares of CAVA Group by 274.0% in the 4th quarter. Larson Financial Group LLC now owns 273 shares of the company’s stock valued at $31,000 after purchasing an additional 200 shares during the period. Whittier Trust Co. lifted its stake in shares of CAVA Group by 80.9% in the 4th quarter. Whittier Trust Co. now owns 284 shares of the company’s stock valued at $32,000 after purchasing an additional 127 shares during the period. Finally, Signaturefd LLC boosted its position in shares of CAVA Group by 884.4% during the fourth quarter. Signaturefd LLC now owns 315 shares of the company’s stock valued at $36,000 after purchasing an additional 283 shares in the last quarter. 73.15% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on CAVA shares. Piper Sandler upgraded CAVA Group from a “neutral” rating to an “overweight” rating and decreased their price objective for the stock from $142.00 to $115.00 in a report on Friday, February 28th. TD Securities reaffirmed a “buy” rating and issued a $120.00 target price on shares of CAVA Group in a research report on Friday, May 16th. JPMorgan Chase & Co. raised shares of CAVA Group from a “neutral” rating to an “overweight” rating and set a $110.00 price target for the company in a research report on Thursday, March 20th. Wedbush restated an “outperform” rating and issued a $150.00 price objective on shares of CAVA Group in a report on Wednesday, February 26th. Finally, Barclays decreased their target price on shares of CAVA Group from $104.00 to $90.00 and set an “equal weight” rating for the company in a research note on Tuesday, April 22nd. Five research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $123.00.

Insiders Place Their Bets

In other CAVA Group news, insider Theodoros Xenohristos sold 9,348 shares of CAVA Group stock in a transaction that occurred on Friday, May 9th. The shares were sold at an average price of $94.88, for a total value of $886,938.24. Following the completion of the sale, the insider now owns 353,271 shares of the company’s stock, valued at approximately $33,518,352.48. The trade was a 2.58% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 6.80% of the stock is owned by insiders.

CAVA Group Stock Up 0.6%

Shares of NYSE CAVA opened at $84.19 on Friday. The firm has a market cap of $9.74 billion, a P/E ratio of 183.01 and a beta of 3.28. CAVA Group, Inc. has a twelve month low of $70.00 and a twelve month high of $172.43. The company has a 50 day moving average of $88.76 and a 200 day moving average of $110.64.

CAVA Group (NYSE:CAVA) last posted its quarterly earnings results on Thursday, May 15th. The company reported $0.22 earnings per share for the quarter, topping the consensus estimate of $0.14 by $0.08. CAVA Group had a return on equity of 9.10% and a net margin of 5.88%. The firm had revenue of $331.83 million during the quarter, compared to analysts’ expectations of $327.98 million. During the same quarter in the previous year, the business earned $0.12 earnings per share. The company’s revenue was up 28.1% on a year-over-year basis. As a group, equities analysts expect that CAVA Group, Inc. will post 0.5 earnings per share for the current fiscal year.

CAVA Group Company 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.