Artemis Investment Management LLP Purchases Shares of 137,398 CAVA Group, Inc. (NYSE:CAVA)

Artemis Investment Management LLP purchased a new stake in CAVA Group, Inc. (NYSE:CAVA) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 137,398 shares of the company’s stock, valued at approximately $15,498,000. Artemis Investment Management LLP owned approximately 0.12% of CAVA Group as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the company. FMR LLC raised its holdings in CAVA Group by 0.9% in the 3rd quarter. FMR LLC now owns 3,485,033 shares of the company’s stock valued at $431,621,000 after acquiring an additional 29,668 shares in the last quarter. Two Sigma Advisers LP grew its stake in shares of CAVA Group by 17.0% in the 3rd quarter. Two Sigma Advisers LP now owns 2,210,900 shares of the company’s stock valued at $273,820,000 after purchasing an additional 321,800 shares during the period. Lord Abbett & CO. LLC grew its stake in shares of CAVA Group by 1.5% in the 3rd quarter. Lord Abbett & CO. LLC now owns 1,358,250 shares of the company’s stock valued at $168,219,000 after purchasing an additional 19,493 shares during the period. State Street Corp grew its stake in shares of CAVA Group by 33.3% in the 3rd quarter. State Street Corp now owns 1,267,333 shares of the company’s stock valued at $156,959,000 after purchasing an additional 316,514 shares during the period. Finally, Geode Capital Management LLC grew its stake in shares of CAVA Group by 121.0% in the 3rd 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 period. Institutional investors and hedge funds own 73.15% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently weighed in on CAVA. JPMorgan Chase & Co. upped their price objective on CAVA Group from $90.00 to $110.00 and gave the company a “neutral” rating in a research note on Wednesday, November 13th. Loop Capital upped their price objective on CAVA Group from $122.00 to $147.00 and gave the company a “hold” rating in a research note on Thursday, November 14th. William Blair reiterated an “outperform” rating on shares of CAVA Group in a research note on Wednesday, November 13th. UBS Group decreased their price target on CAVA Group from $160.00 to $125.00 and set a “neutral” rating on the stock in a research report on Tuesday, January 7th. Finally, Morgan Stanley increased their price target 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. Eight research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, CAVA Group currently has an average rating of “Moderate Buy” and a consensus price target of $142.13.

Insider Activity

In related news, Director Karen Kochevar sold 15,000 shares of the firm’s stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $142.23, for a total transaction of $2,133,450.00. Following the sale, the director now owns 1,307 shares of the company’s stock, valued at approximately $185,894.61. This trade represents a 91.99 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Ronald M. Shaich sold 622,549 shares of the firm’s stock in a transaction on Monday, December 9th. The stock was sold at an average price of $149.40, for a total value of $93,008,820.60. Following the sale, the director now directly owns 6,307 shares in the company, valued at $942,265.80. The trade was a 99.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 652,549 shares of company stock valued at $97,242,271 in the last 90 days. 12.10% of the stock is owned by company insiders.

CAVA Group Stock Performance

Shares of CAVA opened at $118.21 on Monday. The firm has a market capitalization of $13.54 billion, a price-to-earnings ratio of 256.98 and a beta of 3.21. The business’s fifty day moving average price is $128.22 and its two-hundred day moving average price is $117.71. CAVA Group, Inc. has a 52 week low of $43.51 and a 52 week high of $172.43.

CAVA Group (NYSE:CAVA) last announced its quarterly earnings data on Tuesday, November 12th. The company reported $0.15 EPS for the quarter, beating analysts’ consensus estimates of $0.11 by $0.04. The firm had revenue of $243.82 million for the quarter, compared to analyst estimates of $233.05 million. CAVA Group had a return on equity of 9.10% and a net margin of 5.88%. The business’s quarterly revenue was up 38.9% compared to the same quarter last year. During the same period last year, the company earned $0.06 EPS. As a group, research analysts forecast that CAVA Group, Inc. will post 0.5 EPS for the current year.

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.