World Investment Advisors Invests $378,000 in CAVA Group, Inc. (NYSE:CAVA)

World Investment Advisors acquired a new stake in CAVA Group, Inc. (NYSE:CAVA) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 3,355 shares of the company’s stock, valued at approximately $378,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Janus Henderson Group PLC grew its position in shares of CAVA Group by 21.4% in the third quarter. Janus Henderson Group PLC now owns 25,500 shares of the company’s stock valued at $3,157,000 after purchasing an additional 4,500 shares during the last quarter. Integrated Wealth Concepts LLC raised its holdings in shares of CAVA Group by 10.1% in the third quarter. Integrated Wealth Concepts LLC now owns 6,390 shares of the company’s stock worth $791,000 after acquiring an additional 585 shares during the last quarter. Stifel Financial Corp lifted its position in shares of CAVA Group by 7.9% in the third quarter. Stifel Financial Corp now owns 57,395 shares of the company’s stock valued at $7,108,000 after acquiring an additional 4,214 shares in the last quarter. State Street Corp boosted its stake in shares of CAVA Group by 33.3% during the third quarter. State Street Corp now owns 1,267,333 shares of the company’s stock valued at $156,959,000 after acquiring an additional 316,514 shares during the last quarter. Finally, National Bank of Canada FI raised its stake in CAVA Group by 782.7% in the 3rd quarter. National Bank of Canada FI now owns 4,855 shares of the company’s stock valued at $601,000 after purchasing an additional 4,305 shares during the last quarter. Institutional investors and hedge funds own 73.15% of the company’s stock.

Insider Buying and Selling

In other news, 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 completion of the transaction, the chief accounting officer now owns 10,884 shares of the company’s stock, valued at approximately $1,353,860.76. This represents a 5.35 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Kenneth Robert Bertram sold 678 shares of the business’s stock in a transaction dated Monday, January 27th. The stock was sold at an average price of $124.39, for a total transaction of $84,336.42. Following the sale, the insider now owns 57,312 shares in the company, valued at $7,129,039.68. This trade represents a 1.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 29,235 shares of company stock worth $3,514,101 in the last three months. 12.10% of the stock is owned by insiders.

CAVA Group Stock Performance

NYSE:CAVA opened at $78.44 on Wednesday. The stock has a 50-day simple moving average of $101.31 and a 200 day simple moving average of $119.61. CAVA Group, Inc. has a one year low of $58.22 and a one year high of $172.43. The company has a market capitalization of $9.07 billion, a price-to-earnings ratio of 170.51 and a beta of 3.33.

CAVA Group (NYSE:CAVA) last posted its quarterly earnings results on Tuesday, February 25th. The company reported $0.05 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.01). The business had revenue of $227.40 million during the quarter, compared to the consensus estimate of $223.34 million. CAVA Group had a return on equity of 9.10% and a net margin of 5.88%. On average, equities research analysts forecast that CAVA Group, Inc. will post 0.5 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the stock. TD Securities lowered their price target on shares of CAVA Group from $150.00 to $130.00 and set a “buy” rating for the company in a report on Wednesday, February 26th. UBS Group reduced their price target on CAVA Group from $160.00 to $125.00 and set a “neutral” rating on the stock in a research note on Tuesday, January 7th. Wedbush restated an “outperform” rating and issued a $150.00 target price on shares of CAVA Group in a report on Wednesday, February 26th. Piper Sandler upgraded CAVA Group from a “neutral” rating to an “overweight” rating and dropped their price target for the stock from $142.00 to $115.00 in a research note on Friday, February 28th. Finally, JPMorgan Chase & Co. upgraded shares of CAVA Group from a “neutral” rating to an “overweight” rating and set a $110.00 target price on the stock in a report on Thursday, March 20th. Six equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat.com, CAVA Group presently has an average rating of “Moderate Buy” and an average target price of $127.56.

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.