Artemis Investment Management LLP Makes New Investment in CAVA Group, Inc. (NYSE:CAVA)

Artemis Investment Management LLP acquired a new stake in CAVA Group, Inc. (NYSE:CAVA) during the 4th quarter, Holdings Channel reports. The institutional investor acquired 137,398 shares of the company’s stock, valued at approximately $15,498,000.

A number of other hedge funds also recently made changes to their positions in CAVA. Nwam LLC increased its holdings 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 acquiring an additional 85 shares during the last quarter. Howard Financial Services LTD. increased its holdings in shares of CAVA Group by 1.8% during the 4th quarter. Howard Financial Services LTD. now owns 6,194 shares of the company’s stock worth $699,000 after acquiring an additional 109 shares during the last quarter. CIBC Asset Management Inc increased its holdings in shares of CAVA Group by 3.5% during 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 last quarter. Farther Finance Advisors LLC increased its holdings in shares of CAVA Group by 6.3% during the 3rd quarter. Farther Finance Advisors LLC now owns 1,916 shares of the company’s stock worth $237,000 after acquiring an additional 113 shares during the last quarter. Finally, GAMMA Investing LLC increased its holdings in shares of CAVA Group by 37.0% during the 4th quarter. GAMMA Investing LLC now owns 422 shares of the company’s stock worth $48,000 after acquiring an additional 114 shares during the last quarter. 73.15% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other CAVA Group news, Director Ronald M. Shaich sold 622,549 shares of the company’s stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $149.40, for a total value of $93,008,820.60. Following the completion of the transaction, the director now owns 6,307 shares of the company’s stock, valued at $942,265.80. This represents a 99.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Karen Kochevar sold 15,000 shares of the company’s stock in a transaction dated 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 directly owns 1,307 shares of the company’s stock, valued at approximately $185,894.61. The trade was a 91.99 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 652,549 shares of company stock worth $97,242,271 in the last ninety days. 12.10% of the stock is owned by insiders.

CAVA Group Stock Performance

NYSE:CAVA opened at $118.21 on Monday. The stock has a fifty day moving average price of $128.22 and a 200-day moving average price of $117.71. The company has a market cap of $13.54 billion, a price-to-earnings ratio of 256.98 and a beta of 3.21. CAVA Group, Inc. has a fifty-two week low of $43.51 and a fifty-two week high of $172.43.

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

Analysts Set New Price Targets

A number of research analysts recently weighed in on the company. UBS Group decreased 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 boosted their target price on CAVA Group from $140.00 to $163.00 and gave the stock a “neutral” rating in a report on Wednesday, November 13th. Sanford C. Bernstein initiated coverage on CAVA Group in a research note on Wednesday, November 20th. They issued a “market perform” rating and a $145.00 price target for the company. TD Cowen boosted their price target on CAVA Group from $130.00 to $150.00 and gave the company a “buy” rating in a research note on Wednesday, November 13th. Finally, Robert W. Baird boosted their price target on CAVA Group from $125.00 to $148.00 and gave the company an “outperform” rating in a research note on Monday, November 4th. Eight research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $142.13.

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.