Modus Advisors LLC Acquires 353 Shares of CAVA Group, Inc. (NYSE:CAVA)

Modus Advisors LLC raised its holdings in CAVA Group, Inc. (NYSE:CAVA) by 8.0% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 4,791 shares of the company’s stock after purchasing an additional 353 shares during the quarter. Modus Advisors LLC’s holdings in CAVA Group were worth $540,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Nemes Rush Group LLC bought a new stake in shares of CAVA Group during the 2nd quarter worth $28,000. Mark Sheptoff Financial Planning LLC acquired a new position in CAVA Group during the second quarter worth about $36,000. Headlands Technologies LLC bought a new position in shares of CAVA Group in the second quarter worth about $37,000. GAMMA Investing LLC boosted its stake in shares of CAVA Group by 68.3% in the 3rd quarter. GAMMA Investing LLC now owns 308 shares of the company’s stock valued at $38,000 after purchasing an additional 125 shares in the last quarter. Finally, Sunbelt Securities Inc. bought a new stake in shares of CAVA Group during the 3rd quarter valued at approximately $50,000. Institutional investors own 73.15% of the company’s stock.

Insiders Place Their Bets

In other news, Director Ronald M. Shaich sold 622,549 shares of the stock in a transaction dated Monday, December 9th. The shares were sold at an average price of $149.40, for a total transaction of $93,008,820.60. Following the transaction, the director now owns 6,307 shares of the company’s stock, valued at $942,265.80. This represents a 99.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Karen Kochevar sold 15,000 shares of the business’s stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $142.23, for a total value of $2,133,450.00. Following the completion of the sale, the director now directly owns 1,307 shares of the company’s stock, valued at $185,894.61. The trade was a 91.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 652,549 shares of company stock worth $97,242,271. Corporate insiders own 12.10% of the company’s stock.

CAVA Group Trading Down 0.7 %

CAVA stock traded down $0.83 during midday trading on Friday, hitting $114.35. The stock had a trading volume of 457,968 shares, compared to its average volume of 1,296,883. The business has a fifty day moving average price of $133.02 and a two-hundred day moving average price of $115.72. CAVA Group, Inc. has a 1-year low of $39.12 and a 1-year high of $172.43. The firm has a market cap of $13.10 billion, a P/E ratio of 248.59 and a beta of 2.93.

CAVA Group (NYSE:CAVA) last announced its earnings results on Tuesday, November 12th. The company reported $0.15 EPS for the quarter, beating the consensus estimate of $0.11 by $0.04. The company had revenue of $243.82 million for the quarter, compared to analyst estimates of $233.05 million. CAVA Group had a return on equity of 9.10% and a net margin of 5.88%. The firm’s revenue for the quarter was up 38.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.06 EPS. On average, equities analysts anticipate that CAVA Group, Inc. will post 0.5 EPS for the current year.

Wall Street Analysts Forecast Growth

CAVA has been the subject of several research reports. TD Cowen increased their price objective on shares of CAVA Group from $130.00 to $150.00 and gave the company a “buy” rating in a research note on Wednesday, November 13th. Robert W. Baird boosted their price objective on CAVA Group from $125.00 to $148.00 and gave the stock an “outperform” rating in a research report on Monday, November 4th. Wedbush upped their target price on CAVA Group from $155.00 to $190.00 and gave the stock an “outperform” rating in a report on Wednesday, November 13th. Piper Sandler lifted their price target on CAVA Group from $100.00 to $142.00 and gave the company a “neutral” rating in a research note on Friday, November 15th. Finally, TD Securities upped their price objective on CAVA Group from $115.00 to $130.00 and gave the company a “buy” rating in a research note on Tuesday, September 24th. Eight equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat, CAVA Group presently has a consensus rating of “Moderate Buy” and a consensus target price of $143.80.

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.