Ensign Peak Advisors Inc Buys 7,590 Shares of CAVA Group, Inc. (NYSE:CAVA)

Ensign Peak Advisors Inc boosted its stake in shares of CAVA Group, Inc. (NYSE:CAVA) by 77.4% during the fourth quarter, Holdings Channel.com reports. The firm owned 17,390 shares of the company’s stock after purchasing an additional 7,590 shares during the quarter. Ensign Peak Advisors Inc’s holdings in CAVA Group were worth $1,962,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Arcadia Investment Management Corp MI bought a new stake in CAVA Group during the fourth quarter valued at about $25,000. Allworth Financial LP boosted its position in CAVA Group by 369.2% during the fourth quarter. Allworth Financial LP now owns 244 shares of the company’s stock valued at $30,000 after purchasing an additional 192 shares in the last quarter. Larson Financial Group LLC boosted its holdings in CAVA Group by 274.0% in the fourth quarter. Larson Financial Group LLC now owns 273 shares of the company’s stock worth $31,000 after acquiring an additional 200 shares in the last quarter. Whittier Trust Co. boosted its holdings in CAVA Group by 80.9% in the fourth quarter. Whittier Trust Co. now owns 284 shares of the company’s stock worth $32,000 after acquiring an additional 127 shares in the last quarter. Finally, Signaturefd LLC boosted its holdings in CAVA Group by 884.4% in the fourth quarter. Signaturefd LLC now owns 315 shares of the company’s stock worth $36,000 after acquiring an additional 283 shares in the last quarter. Institutional investors own 73.15% of the company’s stock.

CAVA Group Stock Down 0.3%

CAVA Group stock opened at $99.21 on Friday. The stock has a 50-day moving average price of $87.72 and a 200 day moving average price of $112.19. The company has a market capitalization of $11.47 billion, a price-to-earnings ratio of 215.67 and a beta of 3.28. CAVA Group, Inc. has a 52 week low of $70.00 and a 52 week high of $172.43.

CAVA Group (NYSE:CAVA) last announced its quarterly earnings results on Thursday, May 15th. The company reported $0.22 earnings per share for the quarter, beating the consensus estimate of $0.15 by $0.07. CAVA Group had a return on equity of 9.10% and a net margin of 5.88%. Research analysts anticipate that CAVA Group, Inc. will post 0.5 EPS for the current fiscal year.

Insider Activity at CAVA Group

In other news, insider Theodoros Xenohristos sold 9,348 shares of the business’s stock in a transaction that occurred on Friday, May 9th. The stock was sold at an average price of $94.88, for a total value of $886,938.24. Following the completion of the sale, the insider now directly owns 353,271 shares in the company, valued at $33,518,352.48. The trade was a 2.58% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 6.80% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on CAVA. Barclays lowered their price target on CAVA Group from $104.00 to $90.00 and set an “equal weight” rating for the company in a report on Tuesday, April 22nd. Piper Sandler raised CAVA Group from a “neutral” rating to an “overweight” rating and lowered their price target for the stock from $142.00 to $115.00 in a report on Friday, February 28th. Bank of America began coverage on CAVA Group in a report on Monday, March 31st. They issued a “buy” rating and a $112.00 price target for the company. Wedbush reissued an “outperform” rating and issued a $150.00 price target on shares of CAVA Group in a report on Wednesday, February 26th. Finally, Loop Capital lowered their price target on CAVA Group from $147.00 to $100.00 and set a “hold” rating for the company in a report on Thursday, February 27th. Five analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat, CAVA Group has an average rating of “Moderate Buy” and a consensus target price of $123.38.

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.