Aviance Capital Partners LLC Purchases New Shares in CAVA Group, Inc. (NYSE:CAVA)

Aviance Capital Partners LLC purchased a new position in shares of CAVA Group, Inc. (NYSE:CAVA) during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 35,000 shares of the company’s stock, valued at approximately $1,504,000.

A number of other hedge funds have also recently added to or reduced their stakes in CAVA. PNC Financial Services Group Inc. raised its position in shares of CAVA Group by 190.0% during the third quarter. PNC Financial Services Group Inc. now owns 870 shares of the company’s stock worth $27,000 after acquiring an additional 570 shares during the last quarter. Headlands Technologies LLC acquired a new position in CAVA Group during the 3rd quarter valued at about $26,000. Clearstead Advisors LLC bought a new position in shares of CAVA Group in the 3rd quarter valued at about $31,000. Raymond James Financial Services Advisors Inc. grew its position in shares of CAVA Group by 22.7% during the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 8,610 shares of the company’s stock worth $370,000 after buying an additional 1,591 shares during the period. Finally, Renaissance Capital LLC raised its stake in shares of CAVA Group by 27.4% during the fourth quarter. Renaissance Capital LLC now owns 10,681 shares of the company’s stock worth $459,000 after buying an additional 2,294 shares during the last quarter. Institutional investors own 73.15% of the company’s stock.

Insider Buying and Selling

In other news, major shareholder Ronald M. Shaich sold 1,500,000 shares of the business’s stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $57.20, for a total transaction of $85,800,000.00. Following the transaction, the insider now directly owns 4,457,634 shares in the company, valued at approximately $254,976,664.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, major shareholder Ronald M. Shaich sold 1,500,000 shares of CAVA Group stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $57.20, for a total transaction of $85,800,000.00. Following the completion of the transaction, the insider now directly owns 4,457,634 shares in the company, valued at approximately $254,976,664.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Theodoros Xenohristos sold 47,239 shares of the stock in a transaction on Tuesday, March 26th. The shares were sold at an average price of $68.29, for a total value of $3,225,951.31. Following the completion of the sale, the director now owns 526,521 shares in the company, valued at approximately $35,956,119.09. The disclosure for this sale can be found here. Over the last three months, insiders have sold 3,547,239 shares of company stock worth $221,525,951.

Analysts Set New Price Targets

A number of equities analysts have issued reports on CAVA shares. TD Cowen reaffirmed a “buy” rating and issued a $63.00 price objective on shares of CAVA Group in a research note on Wednesday, April 10th. Robert W. Baird lifted their price objective on CAVA Group from $54.00 to $62.00 and gave the stock an “outperform” rating in a research note on Thursday, February 15th. Morgan Stanley increased their target price on CAVA Group from $62.00 to $68.00 and gave the company an “overweight” rating in a research note on Friday, April 12th. Wedbush boosted their target price on CAVA Group from $65.00 to $74.00 and gave the stock an “outperform” rating in a research report on Tuesday, April 16th. Finally, Barclays began coverage on shares of CAVA Group in a research report on Monday, April 15th. They issued an “equal weight” rating and a $58.00 price target on the stock. Four research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat.com, CAVA Group currently has an average rating of “Moderate Buy” and an average price target of $60.42.

CAVA Group Stock Up 3.0 %

CAVA Group stock traded up $2.13 during mid-day trading on Monday, reaching $74.30. The company’s stock had a trading volume of 3,114,482 shares, compared to its average volume of 2,271,108. The business’s 50 day simple moving average is $64.43 and its 200 day simple moving average is $49.25. CAVA Group, Inc. has a 12 month low of $29.05 and a 12 month high of $77.14.

CAVA Group (NYSE:CAVA) last issued its quarterly earnings results on Monday, February 26th. The company reported $0.02 EPS for the quarter, beating the consensus estimate of $0.01 by $0.01. The firm had revenue of $175.50 million during the quarter, compared to analysts’ expectations of $240.03 million. CAVA Group had a return on equity of 4.28% and a net margin of 1.82%. The firm’s revenue for the quarter was up 52.6% compared to the same quarter last year. Research analysts anticipate that CAVA Group, Inc. will post 0.25 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.