Blueshift Asset Management LLC Makes New $566,000 Investment in CAVA Group, Inc. (NYSE:CAVA)

Blueshift Asset Management LLC acquired a new stake in CAVA Group, Inc. (NYSE:CAVA) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 4,571 shares of the company’s stock, valued at approximately $566,000.

Several other institutional investors and hedge funds have also made changes to their positions in CAVA. Nwam LLC boosted its stake in shares of CAVA Group by 2.6% during the 3rd quarter. Nwam LLC now owns 3,368 shares of the company’s stock worth $417,000 after purchasing an additional 85 shares during the last quarter. CIBC Asset Management Inc grew its stake in CAVA Group by 3.5% in the 3rd quarter. CIBC Asset Management Inc now owns 3,287 shares of the company’s stock worth $407,000 after acquiring an additional 110 shares during the period. Farther Finance Advisors LLC raised its holdings in CAVA Group by 6.3% in the 3rd quarter. Farther Finance Advisors LLC now owns 1,916 shares of the company’s stock valued at $237,000 after acquiring an additional 113 shares during the last quarter. GAMMA Investing LLC lifted its stake in shares of CAVA Group by 68.3% during the 3rd quarter. GAMMA Investing LLC now owns 308 shares of the company’s stock worth $38,000 after purchasing an additional 125 shares during the period. Finally, Dimensional Fund Advisors LP boosted 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 purchasing an additional 184 shares during the last quarter. 73.15% of the stock is currently owned by hedge funds and other institutional investors.

CAVA Group Trading Down 1.6 %

CAVA opened at $141.23 on Thursday. CAVA Group, Inc. has a twelve month low of $31.47 and a twelve month high of $172.43. The firm has a market cap of $16.18 billion, a price-to-earnings ratio of 307.02 and a beta of 3.23. The company has a fifty day simple moving average of $134.81 and a 200 day simple moving average of $108.31.

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

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on CAVA shares. JPMorgan Chase & Co. increased their target price on CAVA Group from $90.00 to $110.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 13th. UBS Group began coverage on shares of CAVA Group in a research note on Friday, September 27th. They set a “neutral” rating and a $135.00 price target on the stock. Jefferies Financial Group increased their target price on CAVA Group from $94.00 to $117.00 and gave the stock a “buy” rating in a research report on Friday, August 23rd. Stifel Nicolaus boosted their price target on CAVA Group from $118.00 to $175.00 and gave the company a “buy” rating in a research report on Wednesday, November 13th. Finally, TD Cowen raised their price objective on CAVA Group from $130.00 to $150.00 and gave the stock a “buy” rating in a report on Wednesday, November 13th. Eight analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $143.80.

Insider Buying and Selling

In related news, Director Karen Kochevar sold 15,000 shares of the stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $142.23, for a total value of $2,133,450.00. Following the sale, the director now owns 1,307 shares of the company’s stock, valued at $185,894.61. This trade represents a 91.99 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 12.10% of the stock is owned by company insiders.

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.