AXQ Capital LP Makes New $911,000 Investment in CAVA Group, Inc. (NYSE:CAVA)

AXQ Capital LP bought a new position in CAVA Group, Inc. (NYSE:CAVA) in the fourth quarter, HoldingsChannel.com reports. The institutional investor bought 8,080 shares of the company’s stock, valued at approximately $911,000.

A number of other hedge funds have also added to or reduced their stakes in CAVA. Arcadia Investment Management Corp MI bought a new stake in CAVA Group in the fourth quarter worth approximately $25,000. Allworth Financial LP grew 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 acquiring an additional 192 shares during the period. Larson Financial Group LLC grew its stake in CAVA Group by 274.0% in the fourth quarter. Larson Financial Group LLC now owns 273 shares of the company’s stock valued at $31,000 after acquiring an additional 200 shares during the period. Whittier Trust Co. grew 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 acquiring an additional 127 shares during the period. Finally, Signaturefd LLC grew 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 acquiring an additional 283 shares during the period. 73.15% of the stock is currently owned by institutional investors.

Insider Activity at CAVA Group

In related news, CEO Brett Schulman sold 20,564 shares of the business’s stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $119.18, for a total transaction of $2,450,817.52. Following the sale, the chief executive officer now directly owns 776,369 shares in the company, valued at approximately $92,527,657.42. The trade was a 2.58 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Tricia K. Tolivar sold 2,086 shares of the business’s stock in a transaction dated Tuesday, January 21st. The stock was sold at an average price of $119.18, for a total value of $248,609.48. Following the transaction, the chief financial officer now owns 235,592 shares of the company’s stock, valued at approximately $28,077,854.56. The trade was a 0.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 29,235 shares of company stock worth $3,514,101. 12.10% of the stock is owned by company insiders.

CAVA Group Price Performance

Shares of CAVA opened at $83.59 on Friday. The firm has a market cap of $9.66 billion, a PE ratio of 181.71 and a beta of 3.58. The stock’s fifty day moving average price is $110.68 and its two-hundred day moving average price is $122.88. CAVA Group, Inc. has a 1 year low of $58.22 and a 1 year high of $172.43.

CAVA Group (NYSE:CAVA) last released its quarterly earnings data 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 net margin of 5.88% and a return on equity of 9.10%. The company had revenue of $227.40 million for the quarter, compared to the consensus estimate of $223.34 million. Sell-side analysts anticipate that CAVA Group, Inc. will post 0.5 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the company. UBS Group reduced their price objective on CAVA Group from $160.00 to $125.00 and set a “neutral” rating for the company in a research note on Tuesday, January 7th. Citigroup reduced their price objective on CAVA Group from $163.00 to $140.00 and set a “neutral” rating for the company in a research note on Friday, February 21st. Piper Sandler raised CAVA Group from a “neutral” rating to an “overweight” rating and reduced their price objective for the company from $142.00 to $115.00 in a research note on Friday, February 28th. JPMorgan Chase & Co. raised CAVA Group from a “neutral” rating to an “overweight” rating and set a $110.00 price objective for the company in a research note on Thursday. Finally, TD Securities cut their target price on CAVA Group from $150.00 to $130.00 and set a “buy” rating on the stock in a research report on Wednesday, February 26th. Six equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $131.47.

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.