Navellier & Associates Inc. Acquires New Stake in CAVA Group, Inc. (NYSE:CAVA)

Navellier & Associates Inc. acquired a new stake in CAVA Group, Inc. (NYSE:CAVA) during the fourth quarter, according to its most recent filing with the SEC. The firm acquired 9,347 shares of the company’s stock, valued at approximately $1,054,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Arcadia Investment Management Corp MI purchased a new position in CAVA Group in the 4th quarter valued at $25,000. Centricity Wealth Management LLC purchased a new position in CAVA Group in the 4th quarter valued at $66,000. Prakash Investment Advisors LLC purchased a new position in CAVA Group in the 4th quarter valued at $313,000. Concurrent Investment Advisors LLC grew its position in CAVA Group by 16.2% in the 4th quarter. Concurrent Investment Advisors LLC now owns 2,828 shares of the company’s stock valued at $319,000 after buying an additional 394 shares during the last quarter. Finally, Handelsbanken Fonder AB grew its position in CAVA Group by 92.5% in the 4th quarter. Handelsbanken Fonder AB now owns 20,400 shares of the company’s stock valued at $2,301,000 after buying an additional 9,800 shares during the last quarter. 73.15% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at CAVA Group

In related news, CAO Adam David Phillips sold 615 shares of the business’s stock in a transaction dated Monday, January 27th. The shares were sold at an average price of $124.39, for a total value of $76,499.85. Following the completion of the transaction, the chief accounting officer now owns 10,884 shares of the company’s stock, valued at approximately $1,353,860.76. The trade was a 5.35 % decrease in their position. The sale 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 business’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 completion of the transaction, the chief executive officer now directly owns 776,369 shares of the company’s stock, valued at $92,527,657.42. The trade was a 2.58 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 651,784 shares of company stock valued at $96,522,922. 12.10% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of equities research analysts have commented on the company. Robert W. Baird raised their target price on CAVA Group from $125.00 to $148.00 and gave the company an “outperform” rating in a report on Monday, November 4th. Morgan Stanley raised their target price on CAVA Group from $123.00 to $135.00 and gave the company an “equal weight” rating in a report on Thursday, November 14th. Barclays reduced their target price on CAVA Group from $142.00 to $127.00 and set an “equal weight” rating for the company in a report on Tuesday, January 7th. Wedbush raised their target price on CAVA Group from $155.00 to $190.00 and gave the company an “outperform” rating in a report on Wednesday, November 13th. Finally, William Blair reissued an “outperform” rating on shares of CAVA Group in a report on Wednesday, November 13th. Eight research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $140.60.

CAVA Group Stock Down 8.9 %

NYSE:CAVA opened at $108.05 on Friday. The company has a market capitalization of $12.38 billion, a PE ratio of 234.89 and a beta of 3.25. CAVA Group, Inc. has a 52-week low of $48.55 and a 52-week high of $172.43. The stock has a fifty day simple moving average of $123.05 and a 200-day simple moving average of $125.46.

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.