Golden State Wealth Management LLC Makes New $47,000 Investment in CAVA Group, Inc. (NYSE:CAVA)

Golden State Wealth Management LLC purchased a new stake in CAVA Group, Inc. (NYSE:CAVA) in the 4th quarter, according to its most recent disclosure with the SEC. The fund purchased 420 shares of the company’s stock, valued at approximately $47,000.

A number of other institutional investors have also modified their holdings of CAVA. AQR Capital Management LLC acquired a new stake in CAVA Group in the second quarter worth $208,000. Creative Planning increased its holdings in shares of CAVA Group by 24.7% in the 2nd quarter. Creative Planning now owns 5,046 shares of the company’s stock worth $468,000 after acquiring an additional 1,000 shares during the period. GAMMA Investing LLC lifted its position in CAVA Group by 68.3% in the 3rd quarter. GAMMA Investing LLC now owns 308 shares of the company’s stock valued at $38,000 after purchasing an additional 125 shares during the last quarter. CWM LLC boosted its stake in CAVA Group by 220.4% during the 3rd quarter. CWM LLC now owns 1,852 shares of the company’s stock valued at $229,000 after purchasing an additional 1,274 shares during the period. Finally, ORG Partners LLC bought a new position in CAVA Group in the 3rd quarter worth about $93,000. Institutional investors own 73.15% of the company’s stock.

Wall Street Analyst Weigh In

CAVA has been the subject of several analyst reports. Loop Capital boosted their price objective on CAVA Group from $122.00 to $147.00 and gave the stock a “hold” rating in a research report on Thursday, November 14th. Morgan Stanley boosted 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. Sanford C. Bernstein initiated coverage on CAVA Group in a report on Wednesday, November 20th. They set a “market perform” rating and a $145.00 price target on the stock. TD Cowen upped their price objective on shares of CAVA Group from $130.00 to $150.00 and gave the stock a “buy” rating in a report on Wednesday, November 13th. Finally, Barclays lowered their target price on shares of CAVA Group from $142.00 to $127.00 and set an “equal weight” rating on the stock in a research note on Tuesday, January 7th. 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, the stock has an average rating of “Moderate Buy” and an average price target of $142.13.

Insiders Place Their Bets

In other CAVA Group news, Director Ronald M. Shaich sold 622,549 shares of the business’s stock in a transaction on Monday, December 9th. The shares were sold at an average price of $149.40, for a total transaction of $93,008,820.60. Following the sale, the director now directly owns 6,307 shares of the company’s stock, valued at $942,265.80. The trade was a 99.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Karen Kochevar sold 15,000 shares of the stock in a transaction on Friday, November 15th. The shares were sold at an average price of $140.00, for a total value of $2,100,000.00. Following the completion of the sale, the director now owns 1,307 shares of the company’s stock, valued at $182,980. The trade was a 91.99 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 681,784 shares of company stock worth $100,756,372. Company insiders own 12.10% of the company’s stock.

CAVA Group Stock Performance

Shares of NYSE:CAVA opened at $131.14 on Wednesday. The company has a market capitalization of $15.03 billion, a PE ratio of 285.08 and a beta of 3.25. The stock has a fifty day moving average of $124.93 and a 200-day moving average of $122.98. CAVA Group, Inc. has a one year low of $48.10 and a one year high of $172.43.

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

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.