Man Group plc Grows Stock Position in CAVA Group, Inc. (NYSE:CAVA)

Man Group plc grew its position in CAVA Group, Inc. (NYSE:CAVA) by 563.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 935,075 shares of the company’s stock after acquiring an additional 794,187 shares during the quarter. Man Group plc owned about 0.82% of CAVA Group worth $105,476,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Arcadia Investment Management Corp MI purchased a new position in CAVA Group during the fourth quarter worth approximately $25,000. Allworth Financial LP lifted its position in CAVA Group by 369.2% during the fourth quarter. Allworth Financial LP now owns 244 shares of the company’s stock worth $30,000 after buying an additional 192 shares in the last quarter. Larson Financial Group LLC increased its stake in CAVA Group by 274.0% during the fourth quarter. Larson Financial Group LLC now owns 273 shares of the company’s stock worth $31,000 after acquiring an additional 200 shares during the last quarter. Whittier Trust Co. increased its stake in CAVA Group by 80.9% during the fourth quarter. Whittier Trust Co. now owns 284 shares of the company’s stock worth $32,000 after acquiring an additional 127 shares during the last quarter. Finally, Signaturefd LLC increased its stake in CAVA Group by 884.4% during the fourth quarter. Signaturefd LLC now owns 315 shares of the company’s stock worth $36,000 after acquiring an additional 283 shares during the last quarter. Hedge funds and other institutional investors own 73.15% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have issued reports on CAVA shares. TD Securities cut their target price on CAVA Group from $130.00 to $120.00 and set a “buy” rating for the company in a research note on Monday, April 21st. Citigroup cut their target price on CAVA Group from $163.00 to $140.00 and set a “neutral” rating for the company in a research note on Friday, February 21st. Barclays cut their target price on CAVA Group from $104.00 to $90.00 and set an “equal weight” rating for the company in a research note on Tuesday, April 22nd. UBS Group cut their target price on CAVA Group from $125.00 to $112.00 and set a “neutral” rating for the company in a research note on Tuesday. Finally, Sanford C. Bernstein raised CAVA Group from a “market perform” rating to an “outperform” rating and set a $115.00 target price for the company in a research note on Wednesday, April 23rd. Five analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $123.38.

CAVA Group Trading Up 1.0%

Shares of NYSE CAVA opened at $99.77 on Wednesday. CAVA Group, Inc. has a twelve month low of $70.00 and a twelve month high of $172.43. The stock has a fifty day simple moving average of $86.70 and a 200-day simple moving average of $112.64. The stock has a market capitalization of $11.54 billion, a PE ratio of 216.89 and a beta of 3.28.

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

Insider Buying and Selling

In related news, insider Theodoros Xenohristos sold 9,348 shares of the business’s stock in a transaction on Friday, May 9th. The stock was sold at an average price of $94.88, for a total transaction of $886,938.24. Following the completion of the transaction, the insider now directly owns 353,271 shares of the company’s stock, valued at $33,518,352.48. The trade was a 2.58% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 6.80% of the stock is currently owned by insiders.

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.