Quantbot Technologies LP Raises Stock Holdings in CAVA Group, Inc. (NYSE:CAVA)

Quantbot Technologies LP increased its position in shares of CAVA Group, Inc. (NYSE:CAVA) by 247.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 172,428 shares of the company’s stock after purchasing an additional 122,801 shares during the quarter. CAVA Group accounts for approximately 0.7% of Quantbot Technologies LP’s investment portfolio, making the stock its 4th largest position. Quantbot Technologies LP owned 0.15% of CAVA Group worth $19,450,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Conway Capital Management Inc. bought a new position in shares of CAVA Group in the 3rd quarter valued at $5,524,000. Entropy Technologies LP acquired a new position in CAVA Group during the fourth quarter worth about $2,097,000. Empowered Funds LLC bought a new position in shares of CAVA Group in the fourth quarter worth about $5,007,000. Charles Schwab Investment Management Inc. boosted its stake in shares of CAVA Group by 2.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 527,868 shares of the company’s stock valued at $59,544,000 after purchasing an additional 11,776 shares in the last quarter. Finally, Legacy Capital Wealth Partners LLC grew its holdings in shares of CAVA Group by 71.9% during the 4th quarter. Legacy Capital Wealth Partners LLC now owns 13,658 shares of the company’s stock valued at $1,541,000 after purchasing an additional 5,712 shares during the last quarter. 73.15% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other CAVA Group news, insider Theodoros Xenohristos sold 851 shares of the firm’s stock in a transaction on Tuesday, January 21st. The shares were sold at an average price of $119.18, for a total value of $101,422.18. Following the completion of the sale, the insider now directly owns 358,995 shares in the company, valued at approximately $42,785,024.10. This trade represents a 0.24 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Brett Schulman sold 20,564 shares of the company’s stock in a transaction dated 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 transaction, the chief executive officer now owns 776,369 shares in the company, valued at $92,527,657.42. This represents a 2.58 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 29,235 shares of company stock worth $3,514,101. 12.10% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

CAVA has been the subject of several research reports. TD Securities dropped their price objective on shares of CAVA Group from $150.00 to $130.00 and set a “buy” rating for the company in a research note on Wednesday, February 26th. Sanford C. Bernstein started coverage on CAVA Group in a research note on Wednesday, November 20th. They issued a “market perform” rating and a $145.00 price target for the company. Piper Sandler upgraded CAVA Group from a “neutral” rating to an “overweight” rating and reduced their price objective for the stock from $142.00 to $115.00 in a research report on Friday, February 28th. Wedbush reiterated an “outperform” rating and issued a $150.00 target price on shares of CAVA Group in a research report on Wednesday, February 26th. Finally, Citigroup reduced their price target on CAVA Group from $163.00 to $140.00 and set a “neutral” rating on the stock in a report on Friday, February 21st. Seven investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $131.47.

CAVA Group Stock Performance

NYSE:CAVA opened at $73.93 on Friday. CAVA Group, Inc. has a 52 week low of $58.22 and a 52 week high of $172.43. The firm’s fifty day moving average is $114.84 and its 200-day moving average is $124.40. The firm has a market cap of $8.55 billion, a P/E ratio of 160.72 and a beta of 3.58.

CAVA Group (NYSE:CAVA) last issued its quarterly earnings results on Tuesday, February 25th. The company reported $0.05 earnings per share for the quarter, missing analysts’ consensus estimates 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%. As a group, sell-side analysts anticipate that CAVA Group, Inc. will post 0.5 earnings per share for the current year.

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.