AXQ Capital LP Purchases New Stake in CAVA Group, Inc. (NYSE:CAVA)

AXQ Capital LP purchased a new stake in 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 institutional investor purchased 8,080 shares of the company’s stock, valued at approximately $911,000.

A number of other large investors have also added to or reduced their stakes in the business. FMR LLC grew its holdings in CAVA Group by 0.9% in the 3rd quarter. FMR LLC now owns 3,485,033 shares of the company’s stock valued at $431,621,000 after buying an additional 29,668 shares in the last quarter. Jennison Associates LLC grew its holdings in CAVA Group by 36,658.7% in the 4th quarter. Jennison Associates LLC now owns 2,461,732 shares of the company’s stock valued at $277,683,000 after buying an additional 2,455,035 shares in the last quarter. Two Sigma Advisers LP grew its holdings in CAVA Group by 17.0% in the 3rd quarter. Two Sigma Advisers LP now owns 2,210,900 shares of the company’s stock valued at $273,820,000 after buying an additional 321,800 shares in the last quarter. Lord Abbett & CO. LLC grew its holdings in CAVA Group by 1.5% in the 3rd quarter. Lord Abbett & CO. LLC now owns 1,358,250 shares of the company’s stock valued at $168,219,000 after buying an additional 19,493 shares in the last quarter. Finally, State Street Corp grew its holdings in CAVA Group by 33.3% in the 3rd quarter. State Street Corp now owns 1,267,333 shares of the company’s stock valued at $156,959,000 after buying an additional 316,514 shares in the last quarter. Institutional investors own 73.15% of the company’s stock.

Insider Buying and Selling at CAVA Group

In other news, insider Kenneth Robert Bertram sold 678 shares of the firm’s stock in a transaction dated Monday, January 27th. The stock was sold at an average price of $124.39, for a total transaction of $84,336.42. Following the completion of the transaction, the insider now directly owns 57,312 shares in the company, valued at $7,129,039.68. This trade represents a 1.17 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Theodoros Xenohristos sold 851 shares of the firm’s stock in a transaction dated Tuesday, January 21st. The stock was sold at an average price of $119.18, for a total value of $101,422.18. Following the transaction, the insider now owns 358,995 shares of the company’s stock, valued at $42,785,024.10. This trade represents a 0.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 29,235 shares of company stock worth $3,514,101. 12.10% of the stock is currently owned by insiders.

CAVA Group Trading Down 1.3 %

CAVA Group stock opened at $83.59 on Friday. The company has a market capitalization of $9.66 billion, a PE ratio of 181.71 and a beta of 3.58. CAVA Group, Inc. has a 12 month low of $58.22 and a 12 month high of $172.43. The stock has a 50-day moving average price of $110.68 and a two-hundred day moving average price of $122.88.

CAVA Group (NYSE:CAVA) last posted its 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 firm had revenue of $227.40 million during the quarter, compared to the consensus estimate of $223.34 million. CAVA Group had a net margin of 5.88% and a return on equity of 9.10%. As a group, analysts predict that CAVA Group, Inc. will post 0.5 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on CAVA. JPMorgan Chase & Co. raised CAVA Group from a “neutral” rating to an “overweight” rating and set a $110.00 target price on the stock in a report on Thursday. William Blair reissued an “outperform” rating on shares of CAVA Group in a report on Wednesday, February 26th. UBS Group reduced their target price on CAVA Group from $160.00 to $125.00 and set a “neutral” rating on the stock in a report on Tuesday, January 7th. Citigroup reduced their target price on CAVA Group from $163.00 to $140.00 and set a “neutral” rating on the stock in a report on Friday, February 21st. Finally, Barclays reduced their target price on CAVA Group from $127.00 to $104.00 and set an “equal weight” rating on the stock in a report on Wednesday, February 26th. Six analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat.com, CAVA Group has a consensus rating of “Moderate Buy” and a consensus price target of $131.47.

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.