Pitcairn Co. Has $2.75 Million Stock Holdings in CAVA Group, Inc. (NYSE:CAVA)

Pitcairn Co. increased its position in CAVA Group, Inc. (NYSE:CAVA) by 4.2% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 24,369 shares of the company’s stock after buying an additional 986 shares during the quarter. Pitcairn Co.’s holdings in CAVA Group were worth $2,749,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also added to or reduced their stakes in CAVA. ExodusPoint Capital Management LP acquired a new position in CAVA Group in the 4th quarter valued at approximately $8,553,000. Arete Wealth Advisors LLC acquired a new stake in CAVA Group in the fourth quarter valued at $220,000. World Investment Advisors bought a new position in CAVA Group during the 4th quarter worth $378,000. Bryce Point Capital LLC acquired a new position in CAVA Group during the 4th quarter worth about $1,960,000. Finally, Trexquant Investment LP grew its position in shares of CAVA Group by 3.3% in the 4th quarter. Trexquant Investment LP now owns 225,762 shares of the company’s stock valued at $25,466,000 after buying an additional 7,239 shares during the last quarter. Institutional investors own 73.15% of the company’s stock.

CAVA Group Stock Up 3.7 %

NYSE CAVA opened at $90.41 on Thursday. CAVA Group, Inc. has a 52 week low of $58.22 and a 52 week high of $172.43. The business has a 50 day moving average price of $106.07 and a 200-day moving average price of $121.20. The company has a market cap of $10.45 billion, a price-to-earnings ratio of 196.54 and a beta of 3.58.

CAVA Group (NYSE:CAVA) last announced its quarterly earnings results on Tuesday, February 25th. The company reported $0.05 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 business had revenue of $227.40 million for the quarter, compared to the consensus estimate of $223.34 million. On average, equities research analysts anticipate that CAVA Group, Inc. will post 0.5 earnings per share for the current year.

Insider Buying and Selling

In related news, CEO Brett Schulman sold 20,564 shares of the company’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 completion of the sale, the chief executive officer now owns 776,369 shares in the company, valued at approximately $92,527,657.42. This represents a 2.58 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CAO Adam David Phillips sold 615 shares of the firm’s stock in a transaction 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 in the company, 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 have sold 29,235 shares of company stock worth $3,514,101 in the last quarter. Insiders own 12.10% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the company. JPMorgan Chase & Co. upgraded CAVA Group from a “neutral” rating to an “overweight” rating and set a $110.00 price objective for the company in a research report on Thursday, March 20th. Citigroup dropped their price target on shares of CAVA Group from $163.00 to $140.00 and set a “neutral” rating on the stock in a research report on Friday, February 21st. Loop Capital lowered their target price on shares of CAVA Group from $147.00 to $100.00 and set a “hold” rating for the company in a research note on Thursday, February 27th. TD Securities dropped their target price on shares of CAVA Group from $150.00 to $130.00 and set a “buy” rating on the stock in a report on Wednesday, February 26th. Finally, Barclays decreased their price target on CAVA Group from $127.00 to $104.00 and set an “equal weight” rating for the company in a report on Wednesday, February 26th. Six investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $130.25.

About CAVA Group

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.