Prakash Investment Advisors LLC Takes Position in CAVA Group, Inc. (NYSE:CAVA)

Prakash Investment Advisors LLC purchased 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 and Exchange Commission. The firm purchased 2,775 shares of the company’s stock, valued at approximately $313,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Allworth Financial LP lifted its holdings in shares of CAVA Group by 369.2% in the 4th quarter. Allworth Financial LP now owns 244 shares of the company’s stock valued at $30,000 after buying an additional 192 shares during the period. Golden State Wealth Management LLC acquired a new position in shares of CAVA Group in the fourth quarter worth $47,000. GAMMA Investing LLC grew its position in shares of CAVA Group by 37.0% in the fourth quarter. GAMMA Investing LLC now owns 422 shares of the company’s stock valued at $48,000 after purchasing an additional 114 shares during the period. R Squared Ltd purchased a new stake in shares of CAVA Group in the fourth quarter valued at $49,000. Finally, Principal Securities Inc. grew its position in shares of CAVA Group by 263.3% in the fourth quarter. Principal Securities Inc. now owns 436 shares of the company’s stock valued at $49,000 after purchasing an additional 316 shares during the period. Hedge funds and other institutional investors own 73.15% of the company’s stock.

CAVA Group Stock Down 0.8 %

Shares of CAVA Group stock opened at $118.51 on Friday. The stock has a market cap of $13.58 billion, a PE ratio of 257.63 and a beta of 3.25. The business has a fifty day simple moving average of $123.37 and a 200-day simple moving average of $124.97. CAVA Group, Inc. has a 12 month low of $48.10 and a 12 month high of $172.43.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the company. Barclays lowered their price target on CAVA Group from $142.00 to $127.00 and set an “equal weight” rating for the company in a research report on Tuesday, January 7th. Sanford C. Bernstein assumed coverage on CAVA Group in a research note on Wednesday, November 20th. They issued a “market perform” rating and a $145.00 price target on the stock. Loop Capital boosted their price target on CAVA Group from $122.00 to $147.00 and gave the stock a “hold” rating in a research note on Thursday, November 14th. Citigroup upped their price objective on CAVA Group from $140.00 to $163.00 and gave the company a “neutral” rating in a research note on Wednesday, November 13th. Finally, Stifel Nicolaus upped their target price on CAVA Group from $118.00 to $175.00 and gave the company a “buy” rating in a report on Wednesday, November 13th. Eight investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, CAVA Group has an average rating of “Moderate Buy” and a consensus target price of $142.13.

Insider Transactions at CAVA Group

In related news, Director Ronald M. Shaich sold 622,549 shares of CAVA Group stock in a transaction on Monday, December 9th. The stock was sold at an average price of $149.40, for a total transaction of $93,008,820.60. Following the completion of the sale, the director now owns 6,307 shares of the company’s stock, valued at approximately $942,265.80. This trade represents a 99.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Brett Schulman sold 20,564 shares of CAVA Group stock in a transaction on Tuesday, January 21st. The shares were sold at an average price of $119.18, for a total value of $2,450,817.52. Following the sale, the chief executive officer now directly owns 776,369 shares of the company’s stock, valued at approximately $92,527,657.42. The trade was a 2.58 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 651,784 shares of company stock valued at $96,522,922 over the last quarter. Company insiders own 12.10% of the company’s stock.

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.