Magnetar Financial LLC Buys New Stake in CAVA Group, Inc. (NYSE:CAVA)

Magnetar Financial LLC purchased a new position in shares of CAVA Group, Inc. (NYSE:CAVA) in the fourth quarter, Holdings Channel.com reports. The firm purchased 14,983 shares of the company’s stock, valued at approximately $1,690,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Arcadia Investment Management Corp MI acquired a new position in CAVA Group in the fourth quarter valued at approximately $25,000. Allworth Financial LP grew 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 valued at $30,000 after buying an additional 192 shares during the last quarter. Larson Financial Group LLC raised its stake in CAVA Group by 274.0% during the 4th quarter. Larson Financial Group LLC now owns 273 shares of the company’s stock worth $31,000 after acquiring an additional 200 shares in the last quarter. Signaturefd LLC lifted its position in CAVA Group by 884.4% in the fourth quarter. Signaturefd LLC now owns 315 shares of the company’s stock valued at $36,000 after acquiring an additional 283 shares during the last quarter. Finally, Golden State Wealth Management LLC acquired a new position in CAVA Group in the fourth quarter valued at $47,000. 73.15% of the stock is owned by institutional investors and hedge funds.

Insider Activity at CAVA Group

In other news, CAO Adam David Phillips sold 615 shares of CAVA Group stock in a transaction that occurred 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 completion of the sale, the chief accounting officer now directly owns 10,884 shares in the company, valued at approximately $1,353,860.76. This trade represents a 5.35 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Brett Schulman sold 20,564 shares of the business’s stock in a transaction that occurred 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 sale, the chief executive officer now directly owns 776,369 shares in the company, valued at $92,527,657.42. This trade represents a 2.58 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 29,235 shares of company stock worth $3,514,101 over the last 90 days. Company insiders own 12.10% of the company’s stock.

Analysts Set New Price Targets

CAVA has been the subject of several research reports. Barclays reduced their target price on CAVA Group from $127.00 to $104.00 and set an “equal weight” rating for the company in a report on Wednesday, February 26th. Loop Capital cut their target price on shares of CAVA Group from $147.00 to $100.00 and set a “hold” rating on the stock in a report on Thursday, February 27th. William Blair reiterated an “outperform” rating on shares of CAVA Group in a research note on Wednesday, February 26th. Wedbush restated an “outperform” rating and issued a $150.00 price objective on shares of CAVA Group in a research note on Wednesday, February 26th. Finally, TD Securities decreased their target price on shares of CAVA Group from $150.00 to $130.00 and set a “buy” rating for the company in a research note on Wednesday, February 26th. Six equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat.com, CAVA Group currently has a consensus rating of “Moderate Buy” and a consensus price target of $131.47.

CAVA Group Trading Up 4.6 %

Shares of CAVA stock opened at $84.69 on Friday. The stock has a 50 day simple moving average of $111.31 and a 200-day simple moving average of $123.09. The company has a market cap of $9.79 billion, a price-to-earnings ratio of 184.10 and a beta of 3.58. CAVA Group, Inc. has a 12-month low of $58.22 and a 12-month high of $172.43.

CAVA Group (NYSE:CAVA) last released its earnings results on Tuesday, February 25th. The company reported $0.05 EPS for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.01). The business had revenue of $227.40 million during the quarter, compared to analyst estimates of $223.34 million. CAVA Group had a net margin of 5.88% and a return on equity of 9.10%. On average, equities analysts forecast 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.