Magnus Financial Group LLC Raises Stock Holdings in CAVA Group, Inc. (NYSE:CAVA)

Magnus Financial Group LLC raised its position in shares of CAVA Group, Inc. (NYSE:CAVA) by 13.4% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 5,772 shares of the company’s stock after purchasing an additional 681 shares during the quarter. Magnus Financial Group LLC’s holdings in CAVA Group were worth $651,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the company. Conway Capital Management Inc. acquired a new position in CAVA Group during the third quarter valued at $5,524,000. SpiderRock Advisors LLC lifted its holdings in shares of CAVA Group by 8.9% in the 3rd quarter. SpiderRock Advisors LLC now owns 479,319 shares of the company’s stock valued at $59,364,000 after buying an additional 39,319 shares during the period. Xponance Inc. lifted its holdings in shares of CAVA Group by 95.2% in the 2nd quarter. Xponance Inc. now owns 9,846 shares of the company’s stock valued at $913,000 after buying an additional 4,803 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in shares of CAVA Group by 262.8% in the third quarter. Charles Schwab Investment Management Inc. now owns 516,092 shares of the company’s stock worth $63,918,000 after buying an additional 373,835 shares during the last quarter. Finally, PFG Investments LLC grew its holdings in CAVA Group by 36.8% during the third quarter. PFG Investments LLC now owns 15,907 shares of the company’s stock worth $1,970,000 after acquiring an additional 4,275 shares during the period. 73.15% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Director Karen Kochevar sold 15,000 shares of the company’s 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 completion of the sale, the director now owns 1,307 shares of the company’s stock, valued at approximately $185,894.61. This represents a 91.99 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Ronald M. Shaich sold 622,549 shares of CAVA Group stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $149.40, for a total transaction of $93,008,820.60. Following the transaction, the director now directly owns 6,307 shares in the company, valued at $942,265.80. This trade represents a 99.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 652,549 shares of company stock worth $97,242,271. 12.10% of the stock is owned by corporate insiders.

CAVA Group Stock Up 2.5 %

CAVA Group stock opened at $123.51 on Thursday. The company has a fifty day simple moving average of $126.66 and a 200-day simple moving average of $118.09. The firm has a market capitalization of $14.15 billion, a price-to-earnings ratio of 268.51 and a beta of 3.21. CAVA Group, Inc. has a 52-week low of $44.80 and a 52-week high of $172.43.

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

Analysts Set New Price Targets

Several equities research analysts have commented on the company. TD Cowen upped their price objective on CAVA Group from $130.00 to $150.00 and gave the stock a “buy” rating in a research report on Wednesday, November 13th. Robert W. Baird increased their price target on shares of CAVA Group from $125.00 to $148.00 and gave the stock an “outperform” rating in a report on Monday, November 4th. Barclays cut their price objective on shares of CAVA Group from $142.00 to $127.00 and set an “equal weight” rating for the company in a report on Tuesday, January 7th. JPMorgan Chase & Co. increased their target price on shares of CAVA Group from $90.00 to $110.00 and gave the stock a “neutral” rating in a research note on Wednesday, November 13th. Finally, Wedbush lifted their price target on CAVA Group from $155.00 to $190.00 and gave the company 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 given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target 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.