Versor Investments LP Makes New $769,000 Investment in CAVA Group, Inc. (NYSE:CAVA)

Versor Investments LP purchased a new position in CAVA Group, Inc. (NYSE:CAVA) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 6,814 shares of the company’s stock, valued at approximately $769,000.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Proficio Capital Partners LLC bought a new position in CAVA Group in the fourth quarter worth approximately $2,697,000. Whipplewood Advisors LLC bought a new position in CAVA Group in the fourth quarter worth approximately $51,000. Illinois Municipal Retirement Fund bought a new position in CAVA Group in the fourth quarter worth approximately $581,000. IFP Advisors Inc boosted its holdings in CAVA Group by 23.1% in the fourth quarter. IFP Advisors Inc now owns 5,094 shares of the company’s stock worth $575,000 after acquiring an additional 957 shares in the last quarter. Finally, WealthShield Partners LLC boosted its holdings in CAVA Group by 12.0% in the fourth quarter. WealthShield Partners LLC now owns 1,864 shares of the company’s stock worth $210,000 after acquiring an additional 200 shares in the last quarter. Institutional investors own 73.15% of the company’s stock.

Analysts Set New Price Targets

CAVA has been the topic of several recent research reports. Barclays cut their price target on CAVA Group from $127.00 to $104.00 and set an “equal weight” rating on the stock in a report on Wednesday. Morgan Stanley raised their target price on CAVA Group from $123.00 to $135.00 and gave the company an “equal weight” rating in a report on Thursday, November 14th. Stifel Nicolaus raised their target price on CAVA Group from $118.00 to $175.00 and gave the company a “buy” rating in a report on Wednesday, November 13th. Robert W. Baird raised their target price on CAVA Group from $125.00 to $148.00 and gave the company an “outperform” rating in a report on Monday, November 4th. Finally, TD Cowen raised their target price on CAVA Group from $130.00 to $150.00 and gave the company a “buy” rating in a report on Wednesday, November 13th. Seven research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $131.47.

Insiders Place Their Bets

In other CAVA Group news, CAO Adam David Phillips sold 615 shares of the firm’s stock in a transaction on Monday, January 27th. The stock was sold at an average price of $124.39, for a total value of $76,499.85. Following the completion of the sale, the chief accounting officer now directly owns 10,884 shares of the company’s stock, valued at $1,353,860.76. This trade represents a 5.35 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Kenneth Robert Bertram sold 678 shares of the firm’s stock in a transaction on Monday, January 27th. The stock was sold at an average price of $124.39, for a total value of $84,336.42. Following the completion of the sale, the insider now directly owns 57,312 shares of the company’s stock, valued at $7,129,039.68. This represents a 1.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 651,784 shares of company stock valued at $96,522,922 over the last ninety days. 12.10% of the stock is currently owned by insiders.

CAVA Group Trading Up 5.4 %

Shares of CAVA opened at $94.98 on Friday. The company has a market capitalization of $10.88 billion, a price-to-earnings ratio of 206.47 and a beta of 3.25. The stock has a 50 day moving average of $121.21 and a 200 day moving average of $125.53. CAVA Group, Inc. has a 12 month low of $56.03 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 earnings per share (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 firm had revenue of $227.40 million during the quarter, compared to analysts’ expectations of $223.34 million. As a group, equities research analysts predict that CAVA Group, Inc. will post 0.5 earnings per share for the current year.

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.