Navellier & Associates Inc. Takes $1.05 Million Position in CAVA Group, Inc. (NYSE:CAVA)

Navellier & Associates Inc. acquired a new stake in shares of CAVA Group, Inc. (NYSE:CAVA) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 9,347 shares of the company’s stock, valued at approximately $1,054,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. Arcadia Investment Management Corp MI acquired a new position in shares of CAVA Group during the 4th quarter valued at about $25,000. Allworth Financial LP increased its stake in shares of 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 acquiring an additional 192 shares during the last quarter. Sunbelt Securities Inc. acquired a new position in shares of CAVA Group during the 3rd quarter valued at about $50,000. Golden State Wealth Management LLC acquired a new position in shares of CAVA Group during the 4th quarter valued at about $47,000. Finally, GAMMA Investing LLC increased its stake in shares of CAVA Group by 37.0% during the 4th quarter. GAMMA Investing LLC now owns 422 shares of the company’s stock valued at $48,000 after acquiring an additional 114 shares during the last quarter. Institutional investors and hedge funds own 73.15% of the company’s stock.

Wall Street Analyst Weigh In

CAVA has been the subject of a number of research analyst reports. Loop Capital upped their price objective on shares of CAVA Group from $122.00 to $147.00 and gave the company a “hold” rating in a research note on Thursday, November 14th. Morgan Stanley increased their target price on shares of CAVA Group from $123.00 to $135.00 and gave the stock an “equal weight” rating in a research report on Thursday, November 14th. Robert W. Baird increased their target price on shares of CAVA Group from $125.00 to $148.00 and gave the stock an “outperform” rating in a research report on Monday, November 4th. Wedbush increased their target price on shares of CAVA Group from $155.00 to $190.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 13th. Finally, Stifel Nicolaus increased their target price on shares of CAVA Group from $118.00 to $175.00 and gave the stock a “buy” rating in a research report on Wednesday, November 13th. Eight analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, CAVA Group presently has a consensus rating of “Moderate Buy” and a consensus price target of $140.60.

CAVA Group Stock Down 8.9 %

Shares of NYSE:CAVA opened at $108.05 on Friday. CAVA Group, Inc. has a 52-week low of $48.55 and a 52-week high of $172.43. The company has a 50 day moving average of $123.05 and a two-hundred day moving average of $125.46. The company has a market capitalization of $12.38 billion, a price-to-earnings ratio of 234.89 and a beta of 3.25.

Insider Buying and Selling at CAVA Group

In other news, Director Ronald M. Shaich sold 622,549 shares of the stock in a transaction that occurred on Monday, December 9th. The stock was sold at an average price of $149.40, for a total transaction of $93,008,820.60. Following the completion of the transaction, the director now directly owns 6,307 shares in the company, valued at approximately $942,265.80. This represents a 99.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CAO Adam David Phillips sold 615 shares of the stock in a transaction that occurred on Monday, January 27th. The shares were sold at an average price of $124.39, for a total value of $76,499.85. Following the transaction, the chief accounting officer now owns 10,884 shares of the company’s stock, valued at approximately $1,353,860.76. This trade represents a 5.35 % 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 90 days. 12.10% of the stock is owned by corporate insiders.

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.