CAVA Group, Inc. (NYSE:CAVA) Shares Sold by Legacy Capital Group California Inc.

Legacy Capital Group California Inc. lessened its holdings in shares of CAVA Group, Inc. (NYSE:CAVA) by 1.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 18,951 shares of the company’s stock after selling 277 shares during the period. CAVA Group accounts for about 0.7% of Legacy Capital Group California Inc.’s investment portfolio, making the stock its 20th biggest holding. Legacy Capital Group California Inc.’s holdings in CAVA Group were worth $2,138,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Nwam LLC increased its stake in shares of CAVA Group by 2.6% during the third quarter. Nwam LLC now owns 3,368 shares of the company’s stock valued at $417,000 after acquiring an additional 85 shares during the period. Howard Financial Services LTD. boosted its position in shares of CAVA Group by 1.8% in the 4th quarter. Howard Financial Services LTD. now owns 6,194 shares of the company’s stock valued at $699,000 after purchasing an additional 109 shares during the period. CIBC Asset Management Inc raised 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 valued at $407,000 after acquiring an additional 110 shares during the period. Farther Finance Advisors LLC raised its stake in CAVA Group by 6.3% during the 3rd quarter. Farther Finance Advisors LLC now owns 1,916 shares of the company’s stock valued at $237,000 after purchasing an additional 113 shares during the period. Finally, GAMMA Investing LLC boosted 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 worth $48,000 after buying an additional 114 shares during the period. 73.15% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the company. Piper Sandler upped their target price on CAVA Group from $100.00 to $142.00 and gave the company a “neutral” rating in a report on Friday, November 15th. Loop Capital upped their price objective on shares of CAVA Group from $122.00 to $147.00 and gave the company a “hold” rating in a research note on Thursday, November 14th. Robert W. Baird lifted their target price on shares of CAVA Group from $125.00 to $148.00 and gave the company an “outperform” rating in a research note on Monday, November 4th. JPMorgan Chase & Co. boosted their price target on shares of CAVA Group from $90.00 to $110.00 and gave the company a “neutral” rating in a report on Wednesday, November 13th. Finally, Barclays cut their price objective 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. Eight research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $142.13.

CAVA Group Price Performance

Shares of CAVA opened at $118.51 on Friday. The company has a market capitalization of $13.58 billion, a PE ratio of 257.63 and a beta of 3.25. CAVA Group, Inc. has a one year low of $48.10 and a one year high of $172.43. The company’s fifty day moving average price is $123.37 and its 200 day moving average price is $124.97.

Insider Activity

In related news, CEO Brett Schulman sold 20,564 shares of the company’s stock in a transaction on 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 in the company, valued at $92,527,657.42. This represents a 2.58 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CAO Adam David Phillips sold 615 shares of the firm’s stock in a transaction on Monday, January 27th. The stock was sold at an average price of $124.39, for a total transaction of $76,499.85. Following the completion of the sale, the chief accounting officer now owns 10,884 shares in the company, valued at $1,353,860.76. This represents a 5.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 651,784 shares of company stock valued at $96,522,922. 12.10% of the stock is owned by insiders.

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.