Hobbs Group Advisors LLC Buys Shares of 2,268 CAVA Group, Inc. (NYSE:CAVA)

Hobbs Group Advisors LLC purchased a new position in CAVA Group, Inc. (NYSE:CAVA) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 2,268 shares of the company’s stock, valued at approximately $256,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Pictet Asset Management Holding SA raised its position in CAVA Group by 59.8% during the 4th quarter. Pictet Asset Management Holding SA now owns 11,272 shares of the company’s stock valued at $1,271,000 after purchasing an additional 4,217 shares during the last quarter. Nomura Asset Management Co. Ltd. raised its stake in CAVA Group by 125.3% during the fourth quarter. Nomura Asset Management Co. Ltd. now owns 5,184 shares of the company’s stock valued at $585,000 after buying an additional 2,883 shares during the last quarter. Norges Bank purchased a new position in CAVA Group in the fourth quarter worth about $64,538,000. Blair William & Co. IL raised its holdings in CAVA Group by 6.1% in the 4th quarter. Blair William & Co. IL now owns 132,822 shares of the company’s stock worth $14,982,000 after acquiring an additional 7,632 shares during the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. increased its holdings in CAVA Group by 27.7% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 56,206 shares of the company’s stock worth $6,468,000 after buying an additional 12,200 shares in the last quarter. Hedge funds and other institutional investors own 73.15% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the company. JPMorgan Chase & Co. upgraded CAVA Group from a “neutral” rating to an “overweight” rating and set a $110.00 price target on the stock in a research note on Thursday, March 20th. William Blair reissued an “outperform” rating on shares of CAVA Group in a research note on Wednesday, February 26th. Barclays cut their price objective on CAVA Group from $127.00 to $104.00 and set an “equal weight” rating for the company in a research report on Wednesday, February 26th. Piper Sandler raised shares of CAVA Group from a “neutral” rating to an “overweight” rating and dropped their price objective for the stock from $142.00 to $115.00 in a research note on Friday, February 28th. Finally, Loop Capital decreased their price target on CAVA Group from $147.00 to $100.00 and set a “hold” rating on the stock in a report on Thursday, February 27th. Six analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $131.47.

CAVA Group Stock Performance

Shares of NYSE CAVA opened at $85.75 on Friday. CAVA Group, Inc. has a fifty-two week low of $58.22 and a fifty-two week high of $172.43. The company has a market cap of $9.91 billion, a PE ratio of 186.41 and a beta of 3.58. The business has a 50-day simple moving average of $108.04 and a two-hundred day simple moving average of $121.93.

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

Insider Transactions at CAVA Group

In related news, CEO Brett Schulman sold 20,564 shares of the firm’s stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $119.18, for a total value of $2,450,817.52. Following the transaction, the chief executive officer now directly owns 776,369 shares of the company’s stock, valued at approximately $92,527,657.42. This trade represents a 2.58 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CAO Adam David Phillips sold 615 shares of the company’s stock in a transaction on Monday, January 27th. The stock was sold at an average price of $124.39, for a total transaction of $76,499.85. Following the sale, the chief accounting officer now directly owns 10,884 shares of the company’s stock, valued at $1,353,860.76. The trade was a 5.35 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 29,235 shares of company stock worth $3,514,101 over the last three months. 12.10% of the stock is currently owned by insiders.

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.