Zurcher Kantonalbank Zurich Cantonalbank Takes Position in CAVA Group, Inc. (NYSE:CAVA)

Zurcher Kantonalbank Zurich Cantonalbank purchased a new position in shares of CAVA Group, Inc. (NYSE:CAVA) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 4,757 shares of the company’s stock, valued at approximately $204,000.

Several other hedge funds have also recently added to or reduced their stakes in the company. PNC Financial Services Group Inc. grew its holdings in shares of CAVA Group by 190.0% during the third quarter. PNC Financial Services Group Inc. now owns 870 shares of the company’s stock worth $27,000 after buying an additional 570 shares in the last quarter. Headlands Technologies LLC purchased a new stake in CAVA Group during the 3rd quarter valued at about $26,000. Clearstead Advisors LLC purchased a new position in CAVA Group in the 3rd quarter worth approximately $31,000. Raymond James Financial Services Advisors Inc. boosted its holdings in shares of CAVA Group by 22.7% during the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 8,610 shares of the company’s stock worth $370,000 after purchasing an additional 1,591 shares during the last quarter. Finally, Renaissance Capital LLC grew its position in shares of CAVA Group by 27.4% in the fourth quarter. Renaissance Capital LLC now owns 10,681 shares of the company’s stock valued at $459,000 after purchasing an additional 2,294 shares in the last quarter. 73.15% of the stock is owned by institutional investors and hedge funds.

CAVA Group Stock Performance

NYSE:CAVA opened at $74.21 on Wednesday. CAVA Group, Inc. has a 52 week low of $29.05 and a 52 week high of $77.14. The stock’s fifty day moving average is $64.78 and its two-hundred day moving average is $49.54.

CAVA Group (NYSE:CAVA) last posted its earnings results on Monday, February 26th. The company reported $0.02 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.01 by $0.01. The firm had revenue of $175.50 million for the quarter, compared to analyst estimates of $240.03 million. CAVA Group had a return on equity of 4.28% and a net margin of 1.82%. The business’s revenue was up 52.6% on a year-over-year basis. Equities research analysts predict that CAVA Group, Inc. will post 0.25 EPS for the current fiscal year.

Insider Activity

In related news, major shareholder Ronald M. Shaich sold 1,500,000 shares of the company’s stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $57.20, for a total transaction of $85,800,000.00. Following the sale, the insider now directly owns 4,457,634 shares of the company’s stock, valued at approximately $254,976,664.80. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other news, Director International S.C.A. Artal sold 2,000,000 shares of CAVA Group stock in a transaction dated Thursday, March 21st. The stock was sold at an average price of $66.25, for a total value of $132,500,000.00. Following the completion of the transaction, the director now owns 26,507,990 shares in the company, valued at approximately $1,756,154,337.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Ronald M. Shaich sold 1,500,000 shares of the business’s stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $57.20, for a total value of $85,800,000.00. Following the transaction, the insider now directly owns 4,457,634 shares of the company’s stock, valued at $254,976,664.80. The disclosure for this sale can be found here. Over the last quarter, insiders sold 3,547,239 shares of company stock valued at $221,525,951.

Wall Street Analyst Weigh In

A number of research firms have weighed in on CAVA. JPMorgan Chase & Co. boosted their price objective on CAVA Group from $50.00 to $64.00 and gave the stock an “overweight” rating in a research note on Tuesday, March 19th. Robert W. Baird upped their price objective on shares of CAVA Group from $54.00 to $62.00 and gave the company an “outperform” rating in a report on Thursday, February 15th. Barclays assumed coverage on shares of CAVA Group in a research note on Monday, April 15th. They set an “equal weight” rating and a $58.00 target price on the stock. Argus raised shares of CAVA Group from a “hold” rating to a “buy” rating and set a $70.00 price target for the company in a research note on Wednesday, April 10th. Finally, Wedbush lifted their price target on shares of CAVA Group from $65.00 to $74.00 and gave the company an “outperform” rating in a research report on Tuesday, April 16th. Four investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat.com, CAVA Group presently has a consensus rating of “Moderate Buy” and an average target price of $60.42.

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.