Illinois Municipal Retirement Fund Buys Shares of 5,148 CAVA Group, Inc. (NYSE:CAVA)

Illinois Municipal Retirement Fund bought a new stake in CAVA Group, Inc. (NYSE:CAVA) during the fourth quarter, Holdings Channel.com reports. The firm bought 5,148 shares of the company’s stock, valued at approximately $581,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Conway Capital Management Inc. purchased a new stake in CAVA Group in the third quarter valued at $5,524,000. Entropy Technologies LP acquired a new stake in shares of CAVA Group in the fourth quarter valued at $2,097,000. Empowered Funds LLC acquired a new stake in shares of CAVA Group in the fourth quarter valued at $5,007,000. SpiderRock Advisors LLC grew its stake 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 buying an additional 39,319 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its stake 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 buying an additional 373,835 shares in the last quarter. Hedge funds and other institutional investors own 73.15% of the company’s stock.

Insider Activity

In other news, CAO Adam David Phillips sold 615 shares of the business’s stock in a transaction dated Monday, January 27th. The stock was sold at an average price of $124.39, for a total value of $76,499.85. Following the completion of the sale, the chief accounting officer now directly owns 10,884 shares of the company’s stock, valued at approximately $1,353,860.76. The trade was a 5.35 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Kenneth Robert Bertram sold 678 shares of the business’s stock in a transaction dated Monday, January 27th. The shares were sold at an average price of $124.39, for a total value of $84,336.42. Following the completion of the sale, the insider now directly owns 57,312 shares of the company’s stock, valued at $7,129,039.68. The trade was a 1.17 % 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 valued at $96,522,922. Insiders own 12.10% of the company’s stock.

CAVA Group Stock Performance

NYSE:CAVA opened at $87.55 on Tuesday. The stock has a 50-day simple moving average of $120.12 and a 200-day simple moving average of $125.93. The stock has a market cap of $10.12 billion, a P/E ratio of 190.33 and a beta of 3.25. CAVA Group, Inc. has a 1 year low of $56.03 and a 1 year high of $172.43.

CAVA Group (NYSE:CAVA) last released its quarterly earnings data 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). The business had revenue of $227.40 million for the quarter, compared to analyst estimates of $223.34 million. CAVA Group had a return on equity of 9.10% and a net margin of 5.88%. On average, equities research analysts predict that CAVA Group, Inc. will post 0.5 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on CAVA shares. Stifel Nicolaus lifted their price objective on CAVA Group from $118.00 to $175.00 and gave the company a “buy” rating in a research note on Wednesday, November 13th. Sanford C. Bernstein initiated coverage on CAVA Group in a research note on Wednesday, November 20th. They set a “market perform” rating and a $145.00 target price for the company. Wedbush reissued an “outperform” rating and set a $150.00 target price on shares of CAVA Group in a research note on Wednesday, February 26th. Barclays lowered their target price on CAVA Group from $127.00 to $104.00 and set an “equal weight” rating for the company in a research note on Wednesday, February 26th. Finally, Robert W. Baird boosted their target price on CAVA Group from $125.00 to $148.00 and gave the stock an “outperform” rating in a research note on Monday, November 4th. Seven equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $131.47.

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.