Empowered Funds LLC Makes New $5.01 Million Investment in CAVA Group, Inc. (NYSE:CAVA)

Empowered Funds LLC acquired a new position in shares of CAVA Group, Inc. (NYSE:CAVA) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm acquired 44,388 shares of the company’s stock, valued at approximately $5,007,000.

Other hedge funds also recently modified their holdings of the company. Nwam LLC grew its holdings in CAVA Group by 2.6% in the third quarter. Nwam LLC now owns 3,368 shares of the company’s stock worth $417,000 after purchasing an additional 85 shares during the period. Howard Financial Services LTD. grew its stake in shares of CAVA Group by 1.8% in the 4th quarter. Howard Financial Services LTD. now owns 6,194 shares of the company’s stock valued at $699,000 after buying an additional 109 shares during the period. CIBC Asset Management Inc increased its position in CAVA Group by 3.5% in the 3rd quarter. CIBC Asset Management Inc now owns 3,287 shares of the company’s stock valued at $407,000 after buying an additional 110 shares in the last quarter. Farther Finance Advisors LLC increased its position in CAVA Group by 6.3% in the 3rd quarter. Farther Finance Advisors LLC now owns 1,916 shares of the company’s stock valued at $237,000 after buying an additional 113 shares in the last quarter. Finally, GAMMA Investing LLC raised its stake in CAVA Group by 37.0% during the 4th quarter. GAMMA Investing LLC now owns 422 shares of the company’s stock worth $48,000 after buying an additional 114 shares during the period. Institutional investors own 73.15% of the company’s stock.

Analyst Ratings Changes

Several analysts recently issued reports on CAVA shares. Loop Capital lifted their price target on shares of CAVA Group from $122.00 to $147.00 and gave the company a “hold” rating in a research report on Thursday, November 14th. Stifel Nicolaus increased their price objective on shares of CAVA Group from $118.00 to $175.00 and gave the company a “buy” rating in a research note on Wednesday, November 13th. William Blair restated an “outperform” rating on shares of CAVA Group in a research note on Wednesday, November 13th. Piper Sandler increased their price target on CAVA Group from $100.00 to $142.00 and gave the company a “neutral” rating in a research report on Friday, November 15th. Finally, TD Cowen lifted their price target on CAVA Group from $130.00 to $150.00 and gave the stock a “buy” rating in a report on Wednesday, November 13th. Eight research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $142.13.

CAVA Group Stock Performance

Shares of CAVA Group stock opened at $131.14 on Wednesday. The stock has a market capitalization of $15.03 billion, a P/E ratio of 285.08 and a beta of 3.25. CAVA Group, Inc. has a 52-week low of $48.10 and a 52-week high of $172.43. The stock’s 50-day simple moving average is $124.93 and its 200 day simple moving average is $122.98.

CAVA Group (NYSE:CAVA) last posted its quarterly earnings results on Tuesday, November 12th. The company reported $0.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.11 by $0.04. The company had revenue of $243.82 million for the quarter, compared to analyst estimates of $233.05 million. CAVA Group had a net margin of 5.88% and a return on equity of 9.10%. The company’s quarterly revenue was up 38.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.06 earnings per share. Equities research analysts forecast that CAVA Group, Inc. will post 0.5 EPS for the current fiscal year.

Insider Activity at CAVA Group

In other CAVA Group news, insider Theodoros Xenohristos sold 851 shares of CAVA Group stock in a transaction dated Tuesday, January 21st. The stock was sold at an average price of $119.18, for a total transaction of $101,422.18. Following the completion of the transaction, the insider now owns 358,995 shares of the company’s stock, valued at $42,785,024.10. The trade was a 0.24 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Kenneth Robert Bertram sold 678 shares of the stock in a transaction dated Monday, January 27th. The stock was sold at an average price of $124.39, for a total transaction of $84,336.42. Following the completion of the sale, 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. In the last ninety days, insiders sold 681,784 shares of company stock worth $100,756,372. Corporate insiders own 12.10% of the company’s stock.

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.