Wealthspire Advisors LLC Increases Stake in CAVA Group, Inc. (NYSE:CAVA)

Wealthspire Advisors LLC raised its stake in shares of CAVA Group, Inc. (NYSE:CAVA) by 57.3% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 53,828 shares of the company’s stock after acquiring an additional 19,607 shares during the period. Wealthspire Advisors LLC’s holdings in CAVA Group were worth $6,072,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Arcadia Investment Management Corp MI bought a new position in shares of CAVA Group in the 4th quarter worth approximately $25,000. Allworth Financial LP lifted its stake in shares of CAVA Group by 369.2% in the 4th quarter. Allworth Financial LP now owns 244 shares of the company’s stock worth $30,000 after purchasing an additional 192 shares during the period. Golden State Wealth Management LLC bought a new position in shares of CAVA Group in the 4th quarter worth approximately $47,000. GAMMA Investing LLC lifted its stake in shares of CAVA Group by 37.0% in the 4th quarter. GAMMA Investing LLC now owns 422 shares of the company’s stock worth $48,000 after purchasing an additional 114 shares during the period. Finally, R Squared Ltd bought a new position in shares of CAVA Group in the 4th quarter worth approximately $49,000. Institutional investors own 73.15% of the company’s stock.

Insider Buying and Selling at CAVA Group

In related news, insider Kenneth Robert Bertram sold 678 shares of the firm’s stock in a transaction on Monday, January 27th. The shares were sold at an average price of $124.39, for a total value of $84,336.42. Following the completion of the transaction, the insider now directly owns 57,312 shares of the company’s stock, valued at approximately $7,129,039.68. This trade represents a 1.17 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Adam David Phillips sold 615 shares of the firm’s stock in a transaction on Monday, January 27th. The shares were 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 directly owns 10,884 shares of the company’s stock, valued at approximately $1,353,860.76. This trade represents a 5.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 651,784 shares of company stock valued at $96,522,922 in the last three months. 12.10% of the stock is currently owned by corporate insiders.

CAVA Group Price Performance

Shares of CAVA opened at $108.05 on Monday. CAVA Group, Inc. has a 1 year low of $48.55 and a 1 year high of $172.43. The company has a 50 day simple moving average of $123.05 and a two-hundred day simple moving average of $125.76. The firm has a market cap of $12.38 billion, a P/E ratio of 234.89 and a beta of 3.25.

Analyst Upgrades and Downgrades

CAVA has been the topic of several recent research reports. Barclays lowered their price objective on shares of CAVA Group from $142.00 to $127.00 and set an “equal weight” rating on the stock in a research note on Tuesday, January 7th. Robert W. Baird increased their price objective on shares of CAVA Group from $125.00 to $148.00 and gave the stock an “outperform” rating in a research note on Monday, November 4th. Citigroup lowered their price objective on shares of CAVA Group from $163.00 to $140.00 and set a “neutral” rating on the stock in a research note on Friday. William Blair restated an “outperform” rating on shares of CAVA Group in a research note on Wednesday, November 13th. Finally, Wedbush raised their target price on shares of CAVA Group from $155.00 to $190.00 and gave the stock 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 assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $140.60.

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.