Hobbs Group Advisors LLC Acquires New Holdings in CAVA Group, Inc. (NYSE:CAVA)

Hobbs Group Advisors LLC bought a new stake in shares of CAVA Group, Inc. (NYSE:CAVA) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 2,268 shares of the company’s stock, valued at approximately $256,000.

A number of other large investors have also modified their holdings of CAVA. Arcadia Investment Management Corp MI purchased a new stake in shares of CAVA Group during the 4th quarter worth $25,000. Allworth Financial LP raised its stake in CAVA Group by 369.2% in 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 in the last quarter. Larson Financial Group LLC lifted its holdings 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 buying an additional 200 shares during the last quarter. Whittier Trust Co. increased its stake in CAVA Group by 80.9% in the fourth 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 last quarter. Finally, Signaturefd LLC lifted its stake 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 buying an additional 283 shares during the last quarter. Hedge funds and other institutional investors own 73.15% of the company’s stock.

CAVA Group Stock Down 3.0 %

CAVA Group stock opened at $85.75 on Friday. The firm has a fifty day moving average of $108.04 and a 200-day moving average of $121.93. CAVA Group, Inc. has a 52-week low of $58.22 and a 52-week high of $172.43. The firm has a market capitalization of $9.91 billion, a P/E ratio of 186.41 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 analysts’ consensus estimates of $0.06 by ($0.01). CAVA Group had a return on equity of 9.10% and a net margin of 5.88%. The company had revenue of $227.40 million for the quarter, compared to analyst estimates of $223.34 million. On average, research analysts expect that CAVA Group, Inc. will post 0.5 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

CAVA has been the subject of several analyst reports. Loop Capital cut their price target on shares of CAVA Group from $147.00 to $100.00 and set a “hold” rating for the company in a report on Thursday, February 27th. Barclays lowered their target price on CAVA Group from $127.00 to $104.00 and set an “equal weight” rating on the stock in a report on Wednesday, February 26th. Wedbush reissued an “outperform” rating and set a $150.00 price objective on shares of CAVA Group in a research note on Wednesday, February 26th. JPMorgan Chase & Co. raised shares of CAVA Group from a “neutral” rating to an “overweight” rating and set a $110.00 target price for the company in a research note on Thursday, March 20th. Finally, UBS Group lowered their price objective on CAVA Group from $160.00 to $125.00 and set a “neutral” rating for the company 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. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $131.47.

Insider Transactions at CAVA Group

In other CAVA Group news, CAO Adam David Phillips sold 615 shares of CAVA Group stock in a transaction that occurred on Monday, January 27th. The stock was sold at an average price of $124.39, for a total transaction of $76,499.85. Following the sale, the chief accounting officer now directly owns 10,884 shares in the company, valued at $1,353,860.76. The trade was a 5.35 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Kenneth Robert Bertram sold 678 shares of the company’s stock in a transaction that occurred on Monday, January 27th. The shares were sold at an average price of $124.39, for a total value of $84,336.42. Following the completion of the transaction, the insider now directly owns 57,312 shares in the company, valued at approximately $7,129,039.68. The trade was a 1.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 29,235 shares of company stock valued at $3,514,101. Corporate insiders own 12.10% of the company’s stock.

CAVA Group 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.