West Michigan Advisors LLC Acquires New Shares in CAVA Group, Inc. (NYSE:CAVA)

West Michigan Advisors LLC bought a new position in shares of CAVA Group, Inc. (NYSE:CAVA) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 2,205 shares of the company’s stock, valued at approximately $249,000.

Several other institutional investors also recently modified their holdings of CAVA. Versor Investments LP acquired a new stake in shares of CAVA Group in the 4th quarter valued at approximately $769,000. Proficio Capital Partners LLC bought a new position in shares of CAVA Group during the fourth quarter worth $2,697,000. Whipplewood Advisors LLC bought a new position in shares of CAVA Group during the fourth quarter worth $51,000. Illinois Municipal Retirement Fund bought a new stake in shares of CAVA Group in the 4th quarter valued at $581,000. Finally, IFP Advisors Inc increased its position in shares of CAVA Group by 23.1% in the 4th quarter. IFP Advisors Inc now owns 5,094 shares of the company’s stock valued at $575,000 after buying an additional 957 shares in the last quarter. 73.15% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at CAVA Group

In other CAVA Group news, Director Ronald M. Shaich sold 622,549 shares of the stock in a transaction on Monday, December 9th. The shares were sold at an average price of $149.40, for a total value of $93,008,820.60. Following the completion of the sale, the director now owns 6,307 shares in the company, valued at $942,265.80. This trade represents a 99.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CAO Adam David Phillips sold 615 shares of CAVA Group stock in a transaction dated 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 directly owns 10,884 shares of the company’s stock, valued at approximately $1,353,860.76. This trade represents a 5.35 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 651,784 shares of company stock valued at $96,522,922. 12.10% of the stock is owned by corporate insiders.

Analyst Ratings Changes

CAVA has been the subject of a number of research analyst reports. Piper Sandler raised CAVA Group from a “neutral” rating to an “overweight” rating and decreased their target price for the company from $142.00 to $115.00 in a research note on Friday. Loop Capital decreased their price objective on CAVA Group from $147.00 to $100.00 and set a “hold” rating for the company in a research report on Thursday. Wedbush reissued an “outperform” rating and set a $150.00 target price on shares of CAVA Group in a research note on Wednesday. Morgan Stanley lifted their price target on shares of CAVA Group from $123.00 to $135.00 and gave the company an “equal weight” rating in a research note on Thursday, November 14th. Finally, UBS Group lowered their price objective on shares of CAVA Group from $160.00 to $125.00 and set a “neutral” rating for the company in a research report on Tuesday, January 7th. 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 company currently has a consensus rating of “Moderate Buy” and an average target price of $131.47.

CAVA Group Price Performance

CAVA Group stock opened at $94.98 on Friday. The company has a market cap of $10.88 billion, a price-to-earnings ratio of 206.47 and a beta of 3.25. The firm has a 50-day moving average of $120.73 and a 200-day moving average of $125.57. CAVA Group, Inc. has a one year low of $56.03 and a one year high of $172.43.

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