Independent Advisor Alliance Buys 15,481 Shares of CAVA Group, Inc. (NYSE:CAVA)

Independent Advisor Alliance boosted its stake in shares of CAVA Group, Inc. (NYSE:CAVA) by 155.2% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 25,455 shares of the company’s stock after purchasing an additional 15,481 shares during the quarter. Independent Advisor Alliance’s holdings in CAVA Group were worth $3,153,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Nwam LLC boosted its position in CAVA Group by 2.6% during the third quarter. Nwam LLC now owns 3,368 shares of the company’s stock worth $417,000 after purchasing an additional 85 shares during the period. CIBC Asset Management Inc lifted its holdings in shares of CAVA Group by 3.5% during the third quarter. CIBC Asset Management Inc now owns 3,287 shares of the company’s stock worth $407,000 after buying an additional 110 shares in the last quarter. Farther Finance Advisors LLC lifted its holdings in shares of CAVA Group by 6.3% during the third quarter. Farther Finance Advisors LLC now owns 1,916 shares of the company’s stock worth $237,000 after buying an additional 113 shares in the last quarter. GAMMA Investing LLC lifted its holdings in shares of CAVA Group by 68.3% during the third quarter. GAMMA Investing LLC now owns 308 shares of the company’s stock worth $38,000 after buying an additional 125 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its holdings in shares of CAVA Group by 0.5% during the second quarter. Dimensional Fund Advisors LP now owns 39,154 shares of the company’s stock worth $3,632,000 after buying an additional 184 shares in the last quarter. 73.15% of the stock is owned by institutional investors.

Insider Transactions at CAVA Group

In other news, Director Karen Kochevar sold 15,000 shares of the company’s stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $142.23, for a total value of $2,133,450.00. Following the completion of the transaction, the director now owns 1,307 shares of the company’s stock, valued at $185,894.61. This represents a 91.99 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Company insiders own 12.10% of the company’s stock.

CAVA Group Trading Down 1.7 %

Shares of NYSE CAVA opened at $142.56 on Tuesday. The company has a market cap of $16.33 billion, a price-to-earnings ratio of 309.91 and a beta of 3.23. CAVA Group, Inc. has a 12 month low of $31.47 and a 12 month high of $172.43. The stock has a 50-day moving average price of $133.66 and a two-hundred day moving average price of $107.15.

CAVA Group (NYSE:CAVA) last issued its earnings results on Tuesday, November 12th. The company reported $0.15 EPS for the quarter, topping the consensus estimate of $0.11 by $0.04. The firm had revenue of $243.82 million during the quarter, compared to the consensus estimate of $233.05 million. CAVA Group had a return on equity of 9.10% and a net margin of 5.88%. The business’s quarterly revenue was up 38.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.06 earnings per share. On average, sell-side analysts predict that CAVA Group, Inc. will post 0.5 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. Argus lifted their target price on CAVA Group from $104.00 to $128.00 and gave the stock a “buy” rating in a report on Wednesday, September 11th. Stifel Nicolaus lifted their target price on CAVA Group from $118.00 to $175.00 and gave the stock a “buy” rating in a report on Wednesday, November 13th. JPMorgan Chase & Co. lifted their target price on CAVA Group from $90.00 to $110.00 and gave the stock a “neutral” rating in a report on Wednesday, November 13th. Loop Capital lifted their target price on CAVA Group from $122.00 to $147.00 and gave the stock a “hold” rating in a report on Thursday, November 14th. Finally, Wedbush boosted their price target on CAVA Group from $155.00 to $190.00 and gave the company an “outperform” rating in a research note on Wednesday, November 13th. Eight investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, the stock 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.