K.J. Harrison & Partners Inc Cuts Stake in CAVA Group, Inc. (NYSE:CAVA)

K.J. Harrison & Partners Inc lessened its stake in shares of CAVA Group, Inc. (NYSE:CAVA) by 18.2% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 9,000 shares of the company’s stock after selling 2,000 shares during the period. K.J. Harrison & Partners Inc’s holdings in CAVA Group were worth $1,037,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Jennison Associates LLC lifted its position in shares of CAVA Group by 36,658.7% during the 4th quarter. Jennison Associates LLC now owns 2,461,732 shares of the company’s stock valued at $277,683,000 after buying an additional 2,455,035 shares during the last quarter. Geode Capital Management LLC lifted its holdings in CAVA Group by 121.0% during the third quarter. Geode Capital Management LLC now owns 1,222,834 shares of the company’s stock valued at $151,492,000 after purchasing an additional 669,599 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in CAVA Group by 262.8% during the third quarter. Charles Schwab Investment Management Inc. now owns 516,092 shares of the company’s stock worth $63,918,000 after purchasing an additional 373,835 shares during the period. Two Sigma Advisers LP boosted its position in CAVA Group by 17.0% during the third quarter. Two Sigma Advisers LP now owns 2,210,900 shares of the company’s stock worth $273,820,000 after purchasing an additional 321,800 shares during the period. Finally, State Street Corp increased its stake in shares of CAVA Group by 33.3% in the third quarter. State Street Corp now owns 1,267,333 shares of the company’s stock worth $156,959,000 after purchasing an additional 316,514 shares in the last quarter. Institutional investors own 73.15% of the company’s stock.

Insider Transactions at CAVA Group

In related news, CFO Tricia K. Tolivar sold 2,086 shares of CAVA Group stock in a transaction on Tuesday, January 21st. The shares were sold at an average price of $119.18, for a total value of $248,609.48. Following the transaction, the chief financial officer now owns 235,592 shares in the company, valued at $28,077,854.56. This trade represents a 0.88 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Theodoros Xenohristos sold 851 shares of the business’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 $101,422.18. Following the completion of the sale, the insider now directly owns 358,995 shares of the company’s stock, valued at $42,785,024.10. This represents a 0.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 651,784 shares of company stock worth $96,522,922. 12.10% of the stock is currently owned by corporate insiders.

CAVA Group Price Performance

Shares of CAVA Group stock opened at $98.77 on Thursday. The company has a 50 day simple moving average of $122.12 and a two-hundred day simple moving average of $125.97. The firm has a market cap of $11.32 billion, a PE ratio of 214.71 and a beta of 3.25. CAVA Group, Inc. has a 1 year low of $52.81 and a 1 year high of $172.43.

CAVA Group (NYSE:CAVA) last posted its quarterly earnings data 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 company had revenue of $227.40 million for 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%. As a group, research analysts anticipate that CAVA Group, Inc. will post 0.5 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of brokerages recently commented on CAVA. Piper Sandler upped their price target on shares of CAVA Group from $100.00 to $142.00 and gave the company a “neutral” rating in a research note on Friday, November 15th. Morgan Stanley increased their target price on CAVA Group from $123.00 to $135.00 and gave the stock an “equal weight” rating in a research report on Thursday, November 14th. William Blair reiterated an “outperform” rating on shares of CAVA Group in a research report on Wednesday. Sanford C. Bernstein assumed coverage on CAVA Group in a report on Wednesday, November 20th. They set a “market perform” rating and a $145.00 price objective on the stock. Finally, Loop Capital lifted their target price on CAVA Group from $122.00 to $147.00 and gave the company a “hold” rating in a report on Thursday, November 14th. Eight investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $136.40.

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.