Empowered Funds LLC Invests $5.01 Million in CAVA Group, Inc. (NYSE:CAVA)

Empowered Funds LLC acquired a new stake in CAVA Group, Inc. (NYSE:CAVA) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 44,388 shares of the company’s stock, valued at approximately $5,007,000.

Other hedge funds also recently made changes to their positions in the company. Conway Capital Management Inc. acquired a new position in shares of CAVA Group during the 3rd quarter worth approximately $5,524,000. SpiderRock Advisors LLC increased its holdings in shares of CAVA Group by 8.9% in the third quarter. SpiderRock Advisors LLC now owns 479,319 shares of the company’s stock valued at $59,364,000 after purchasing an additional 39,319 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of CAVA Group by 262.8% in the third quarter. Charles Schwab Investment Management Inc. now owns 516,092 shares of the company’s stock valued at $63,918,000 after purchasing an additional 373,835 shares during the period. PFG Investments LLC lifted its stake in shares of CAVA Group by 36.8% during the 3rd quarter. PFG Investments LLC now owns 15,907 shares of the company’s stock worth $1,970,000 after buying an additional 4,275 shares during the last quarter. Finally, Aigen Investment Management LP bought a new stake in shares of CAVA Group during the 3rd quarter worth about $1,293,000. 73.15% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, CEO Brett Schulman sold 20,564 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 transaction of $2,450,817.52. Following the completion of the transaction, the chief executive officer now owns 776,369 shares of the company’s stock, valued at $92,527,657.42. This trade represents a 2.58 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Adam David Phillips sold 615 shares of the business’s stock in a transaction on Monday, January 27th. The shares were sold at an average price of $124.39, for a total transaction of $76,499.85. Following the completion of the transaction, the chief accounting officer now owns 10,884 shares in the company, valued at approximately $1,353,860.76. The trade was a 5.35 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 681,784 shares of company stock worth $100,756,372 in the last ninety days. Company insiders own 12.10% of the company’s stock.

CAVA Group Price Performance

NYSE CAVA opened at $131.14 on Wednesday. The business has a fifty day moving average price of $124.93 and a two-hundred day moving average price of $122.98. The stock has a market capitalization of $15.03 billion, a PE ratio of 285.08 and a beta of 3.25. CAVA Group, Inc. has a fifty-two week low of $48.10 and a fifty-two week high of $172.43.

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

Analyst Ratings Changes

CAVA has been the topic of several research analyst reports. Morgan Stanley increased their price target on shares of CAVA Group from $123.00 to $135.00 and gave the company an “equal weight” rating in a report on Thursday, November 14th. Wedbush lifted their price target on CAVA Group from $155.00 to $190.00 and gave the stock an “outperform” rating in a report on Wednesday, November 13th. William Blair reiterated an “outperform” rating on shares of CAVA Group in a research report on Wednesday, November 13th. Barclays reduced their target price on shares of CAVA Group from $142.00 to $127.00 and set an “equal weight” rating for the company in a research report on Tuesday, January 7th. Finally, JPMorgan Chase & Co. raised their price target on shares of CAVA Group from $90.00 to $110.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 13th. Eight research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, CAVA Group currently has an average rating of “Moderate Buy” and an average price target of $142.13.

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.