Tradition Wealth Management LLC Buys 270 Shares of CAVA Group, Inc. (NYSE:CAVA)

Tradition Wealth Management LLC grew its stake in shares of CAVA Group, Inc. (NYSE:CAVA) by 13.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 2,285 shares of the company’s stock after purchasing an additional 270 shares during the quarter. Tradition Wealth Management LLC’s holdings in CAVA Group were worth $258,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. increased its position in shares of CAVA Group by 20.4% in the fourth quarter. Vanguard Group Inc. now owns 8,011,602 shares of the company’s stock valued at $903,709,000 after acquiring an additional 1,357,187 shares during the period. FMR LLC raised its position in CAVA Group by 14.1% during the 4th quarter. FMR LLC now owns 3,976,353 shares of the company’s stock valued at $448,533,000 after purchasing an additional 491,320 shares during the last quarter. Jennison Associates LLC lifted its holdings in CAVA Group by 36,658.7% in the 4th quarter. Jennison Associates LLC now owns 2,461,732 shares of the company’s stock worth $277,683,000 after buying an additional 2,455,035 shares during the period. Federated Hermes Inc. increased its stake in shares of CAVA Group by 33.0% during the fourth quarter. Federated Hermes Inc. now owns 1,464,987 shares of the company’s stock valued at $165,243,000 after buying an additional 363,814 shares during the period. Finally, Lord Abbett & CO. LLC raised its holdings in shares of CAVA Group by 1.5% during the third quarter. Lord Abbett & CO. LLC now owns 1,358,250 shares of the company’s stock valued at $168,219,000 after acquiring an additional 19,493 shares in the last quarter. 73.15% of the stock is owned by hedge funds and other institutional investors.

CAVA Group Stock Down 6.2 %

Shares of CAVA opened at $80.71 on Tuesday. CAVA Group, Inc. has a 52-week low of $58.22 and a 52-week high of $172.43. The company has a market cap of $9.33 billion, a PE ratio of 175.46 and a beta of 3.33. The business has a fifty day moving average of $91.30 and a 200 day moving average of $116.98.

CAVA Group (NYSE:CAVA) last released 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). The firm had revenue of $227.40 million for the quarter, compared to analysts’ expectations of $223.34 million. CAVA Group had a return on equity of 9.10% and a net margin of 5.88%. As a group, research analysts anticipate that CAVA Group, Inc. will post 0.5 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on CAVA shares. Wedbush reaffirmed an “outperform” rating and issued a $150.00 target price on shares of CAVA Group in a research report on Wednesday, February 26th. Piper Sandler upgraded CAVA Group from a “neutral” rating to an “overweight” rating and reduced their target price 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 research report on Monday, March 31st. They set a “buy” rating and a $112.00 price target on the stock. Robert W. Baird set a $105.00 price objective on CAVA Group and gave the company an “outperform” rating in a research report on Monday, April 7th. Finally, Citigroup decreased their price target on shares of CAVA Group from $163.00 to $140.00 and set a “neutral” rating for the company in a research note on Friday, February 21st. Six research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $126.94.

Insider Buying and Selling

In other CAVA Group news, CFO Tricia K. Tolivar sold 1,505 shares of the firm’s stock in a transaction on Monday, January 27th. The stock was sold at an average price of $124.39, for a total transaction of $187,206.95. Following the transaction, the chief financial officer now directly owns 234,087 shares in the company, valued at $29,118,081.93. This trade represents a 0.64 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CAO Adam David Phillips sold 615 shares of the stock in a transaction on Monday, January 27th. The stock was sold at an average price of $124.39, for a total value of $76,499.85. Following the transaction, the chief accounting officer now directly owns 10,884 shares in the company, valued at $1,353,860.76. The trade was a 5.35 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 5,734 shares of company stock valued at $713,252. Insiders own 12.10% of the company’s stock.

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.