State of Wyoming Acquires 1,181 Shares of CAVA Group, Inc. (NYSE:CAVA)

by · The Cerbat Gem

State of Wyoming raised its holdings in shares of CAVA Group, Inc. (NYSE:CAVA – Free Report) by 70.5% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 2,856 shares of the company’s stock after purchasing an additional 1,181 shares during the period. State of Wyoming’s holdings in CAVA Group were worth $322,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in CAVA. Arcadia Investment Management Corp MI purchased a new stake in shares of CAVA Group during the fourth quarter valued at approximately $25,000. Allworth Financial LP boosted its stake in shares of CAVA Group by 369.2% during the 4th quarter. Allworth Financial LP now owns 244 shares of the company’s stock worth $30,000 after acquiring an additional 192 shares during the last quarter. Larson Financial Group LLC raised its position in shares of CAVA Group by 274.0% during the 4th quarter. Larson Financial Group LLC now owns 273 shares of the company’s stock valued at $31,000 after purchasing an additional 200 shares during the period. Whittier Trust Co. raised its position in shares of CAVA Group by 80.9% during the 4th quarter. Whittier Trust Co. now owns 284 shares of the company’s stock valued at $32,000 after purchasing an additional 127 shares during the period. Finally, Signaturefd LLC raised its position in shares of CAVA Group by 884.4% during the 4th quarter. Signaturefd LLC now owns 315 shares of the company’s stock valued at $36,000 after purchasing an additional 283 shares during the period. Institutional investors own 73.15% of the company’s stock.

CAVA Group Stock Down 6.2%

NYSE CAVA opened at $83.80 on Thursday. The firm has a market cap of $9.69 billion, a PE ratio of 182.17 and a beta of 3.28. The company has a 50 day moving average price of $88.65 and a 200 day moving average price of $110.97. CAVA Group, Inc. has a 52 week low of $70.00 and a 52 week high of $172.43.

CAVA Group (NYSE:CAVA – Get Free Report) last posted its quarterly earnings results on Thursday, May 15th. The company reported $0.22 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.14 by $0.08. The business had revenue of $331.83 million during the quarter, compared to analysts’ expectations of $327.98 million. CAVA Group had a net margin of 5.88% and a return on equity of 9.10%. The business’s quarterly revenue was up 28.1% on a year-over-year basis. During the same quarter last year, the company posted $0.12 earnings per share. On average, equities research analysts anticipate that CAVA Group, Inc. will post 0.5 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, insider Theodoros Xenohristos sold 9,348 shares of the firm’s stock in a transaction on Friday, May 9th. The shares were sold at an average price of $94.88, for a total transaction of $886,938.24. Following the completion of the transaction, the insider now owns 353,271 shares of the company’s stock, valued at $33,518,352.48. This trade represents a 2.58% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 6.80% of the company’s stock.

Analyst Ratings Changes

A number of analysts have issued reports on the stock. Piper Sandler upgraded shares of CAVA Group from a “neutral” rating to an “overweight” rating and reduced their price target for the company from $142.00 to $115.00 in a report on Friday, February 28th. TD Securities reissued a “buy” rating and set a $120.00 price objective on shares of CAVA Group in a research note on Friday, May 16th. Loop Capital dropped their price target on shares of CAVA Group from $147.00 to $100.00 and set a “hold” rating for the company in a research note on Thursday, February 27th. Citigroup boosted their price objective on shares of CAVA Group from $114.00 to $115.00 and gave the company a “neutral” rating in a research report on Friday, May 16th. Finally, Robert W. Baird boosted their price objective on shares of CAVA Group from $105.00 to $115.00 and gave the company an “outperform” rating in a research report on Friday, May 16th. Five analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $123.00.

Get Our Latest Analysis on CAVA

About CAVA Group

(Free Report)

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.

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