Avantax Advisory Services Inc. Makes New $392,000 Investment in CAVA Group, Inc. (NYSE:CAVA)

Avantax Advisory Services Inc. bought a new stake in CAVA Group, Inc. (NYSE:CAVA) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 3,479 shares of the company’s stock, valued at approximately $392,000.

A number of other large investors have also recently made changes to their positions in the company. Farther Finance Advisors LLC boosted its stake in CAVA Group by 8.6% during the 4th quarter. Farther Finance Advisors LLC now owns 2,081 shares of the company’s stock worth $235,000 after purchasing an additional 165 shares during the period. EverSource Wealth Advisors LLC acquired a new stake in shares of CAVA Group during the fourth quarter worth about $63,000. AGF Management Ltd. boosted its stake in shares of CAVA Group by 2.1% during the fourth quarter. AGF Management Ltd. now owns 90,702 shares of the company’s stock worth $10,231,000 after buying an additional 1,846 shares during the period. Miller Financial Services LLC acquired a new position in CAVA Group in the 4th quarter valued at about $1,068,000. Finally, Independent Advisor Alliance raised its stake in CAVA Group by 36.4% during the 4th quarter. Independent Advisor Alliance now owns 34,708 shares of the company’s stock valued at $3,915,000 after acquiring an additional 9,253 shares during the last quarter. 73.15% of the stock is owned by institutional investors and hedge funds.

CAVA Group Stock Up 7.8 %

NYSE:CAVA opened at $90.39 on Tuesday. CAVA Group, Inc. has a 52-week low of $58.22 and a 52-week high of $172.43. The stock has a fifty day simple moving average of $110.27 and a 200-day simple moving average of $122.83. The company has a market capitalization of $10.45 billion, a PE ratio of 196.51 and a beta of 3.58.

CAVA Group (NYSE:CAVA) last announced its earnings results on Tuesday, February 25th. The company reported $0.05 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.01). The business had revenue of $227.40 million for the quarter, compared to analyst estimates of $223.34 million. CAVA Group had a return on equity of 9.10% and a net margin of 5.88%. As a group, equities analysts anticipate that CAVA Group, Inc. will post 0.5 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the company. Piper Sandler upgraded CAVA Group from a “neutral” rating to an “overweight” rating and lowered their target price for the company from $142.00 to $115.00 in a research note on Friday, February 28th. 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 report on Thursday, February 27th. TD Securities cut their price objective on shares of CAVA Group from $150.00 to $130.00 and set a “buy” rating for the company in a research report on Wednesday, February 26th. Citigroup reduced their target price on shares of CAVA Group from $163.00 to $140.00 and set a “neutral” rating for the company in a research note on Friday, February 21st. Finally, JPMorgan Chase & Co. raised shares of CAVA Group from a “neutral” rating to an “overweight” rating and set a $110.00 price target for the company in a report on Thursday, March 20th. Six equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat.com, CAVA Group currently has an average rating of “Moderate Buy” and an average target price of $131.47.

Insider Buying and Selling

In other CAVA Group news, CAO Adam David Phillips sold 615 shares of the firm’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. This trade represents a 5.35 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Brett Schulman sold 20,564 shares of the company’s stock in a transaction on 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 owns 776,369 shares in the company, valued at $92,527,657.42. This represents a 2.58 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 29,235 shares of company stock worth $3,514,101 in the last ninety days. Insiders own 12.10% of the company’s stock.

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.