Centiva Capital LP Takes Position in CAVA Group, Inc. (NYSE:CAVA)

Centiva Capital LP bought a new stake in CAVA Group, Inc. (NYSE:CAVA) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 20,732 shares of the company’s stock, valued at approximately $2,339,000.

Other institutional investors also recently bought and sold shares of the company. Arcadia Investment Management Corp MI purchased a new position in shares of CAVA Group in the fourth quarter valued at about $25,000. Allworth Financial LP raised its position in CAVA Group by 369.2% during the 4th quarter. Allworth Financial LP now owns 244 shares of the company’s stock valued at $30,000 after purchasing an additional 192 shares during the last quarter. Larson Financial Group LLC lifted its holdings in CAVA Group by 274.0% in 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 period. Whittier Trust Co. grew its position in shares of CAVA Group by 80.9% in the 4th quarter. Whittier Trust Co. now owns 284 shares of the company’s stock worth $32,000 after buying an additional 127 shares during the last quarter. Finally, Signaturefd LLC increased its stake in shares of CAVA Group by 884.4% during 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 period. 73.15% of the stock is currently owned by hedge funds and other institutional investors.

CAVA Group Stock Down 2.6 %

NYSE:CAVA opened at $93.38 on Wednesday. The stock has a market cap of $10.80 billion, a price-to-earnings ratio of 203.00 and a beta of 3.28. The company’s 50 day moving average price is $86.15 and its 200-day moving average price is $113.96. CAVA Group, Inc. has a 52 week low of $70.00 and a 52 week high of $172.43.

CAVA Group (NYSE:CAVA) last issued its earnings results on Tuesday, February 25th. The company reported $0.05 EPS for the quarter, missing the consensus estimate of $0.06 by ($0.01). CAVA Group had a net margin of 5.88% and a return on equity of 9.10%. The business had revenue of $227.40 million for the quarter, compared to analysts’ expectations of $223.34 million. As a group, sell-side analysts anticipate that CAVA Group, Inc. will post 0.5 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the stock. Wedbush reiterated an “outperform” rating and issued a $150.00 price target on shares of CAVA Group in a report on Wednesday, February 26th. William Blair reaffirmed an “outperform” rating on shares of CAVA Group in a research note on Wednesday, February 26th. Piper Sandler raised shares of CAVA Group from a “neutral” rating to an “overweight” rating and decreased their price target for the stock from $142.00 to $115.00 in a research note on Friday, February 28th. Barclays cut their price objective on CAVA Group from $104.00 to $90.00 and set an “equal weight” rating on the stock in a research report on Tuesday, April 22nd. Finally, Citigroup decreased their target price on CAVA Group from $163.00 to $140.00 and set a “neutral” rating for the company in a research report on Friday, February 21st. Five analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $124.19.

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.