Pitcairn Co. Acquires 986 Shares of CAVA Group, Inc. (NYSE:CAVA)

Pitcairn Co. lifted its holdings in CAVA Group, Inc. (NYSE:CAVA) by 4.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 24,369 shares of the company’s stock after purchasing an additional 986 shares during the quarter. Pitcairn Co.’s holdings in CAVA Group were worth $2,749,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in CAVA. Arcadia Investment Management Corp MI acquired a new position in CAVA Group during the fourth quarter valued at approximately $25,000. Allworth Financial LP boosted 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 last quarter. Larson Financial Group LLC grew its stake in shares of CAVA Group by 274.0% in the fourth quarter. Larson Financial Group LLC now owns 273 shares of the company’s stock valued at $31,000 after buying an additional 200 shares in the last quarter. Whittier Trust Co. increased its holdings in CAVA Group by 80.9% during the fourth quarter. Whittier Trust Co. now owns 284 shares of the company’s stock worth $32,000 after buying an additional 127 shares during the last quarter. Finally, Signaturefd LLC raised its position in CAVA Group by 884.4% during the fourth quarter. Signaturefd LLC now owns 315 shares of the company’s stock worth $36,000 after acquiring an additional 283 shares in the last quarter. Institutional investors and hedge funds own 73.15% of the company’s stock.

Insider Transactions at CAVA Group

In other news, CAO Adam David Phillips sold 615 shares of the business’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 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Brett Schulman sold 20,564 shares of the firm’s stock in a transaction dated 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 completion of the sale, the chief executive officer now directly owns 776,369 shares in the company, valued at $92,527,657.42. This trade represents a 2.58 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 29,235 shares of company stock valued at $3,514,101. Company insiders own 12.10% of the company’s stock.

CAVA Group Price Performance

CAVA Group stock opened at $90.41 on Thursday. The firm has a market cap of $10.45 billion, a PE ratio of 196.54 and a beta of 3.58. The stock’s fifty day moving average price is $106.07 and its two-hundred day moving average price is $121.20. CAVA Group, Inc. has a one year low of $58.22 and a one year high of $172.43.

CAVA Group (NYSE:CAVA) last issued its quarterly earnings results on Tuesday, February 25th. The company reported $0.05 EPS for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.01). The company had revenue of $227.40 million during the quarter, compared to the consensus estimate of $223.34 million. CAVA Group had a return on equity of 9.10% and a net margin of 5.88%. Sell-side analysts expect that CAVA Group, Inc. will post 0.5 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on CAVA shares. Loop Capital lowered their price objective on shares of CAVA Group from $147.00 to $100.00 and set a “hold” rating on the stock in a research note on Thursday, February 27th. UBS Group lowered their price target on CAVA Group from $160.00 to $125.00 and set a “neutral” rating on the stock in a research report on Tuesday, January 7th. Bank of America began coverage on CAVA Group in a research note on Monday. They set a “buy” rating and a $112.00 target price for the company. TD Securities dropped their price target on CAVA Group from $150.00 to $130.00 and set a “buy” rating on the stock in a research note on Wednesday, February 26th. Finally, Citigroup reduced their price objective on shares of CAVA Group from $163.00 to $140.00 and set a “neutral” rating for the company in a research report on Friday, February 21st. Six research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $130.25.

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.