Visionary Wealth Advisors Raises Stock Holdings in CAVA Group, Inc. (NYSE:CAVA)

Visionary Wealth Advisors raised its position in CAVA Group, Inc. (NYSE:CAVA) by 11.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,035 shares of the company’s stock after buying an additional 205 shares during the quarter. Visionary Wealth Advisors’ holdings in CAVA Group were worth $230,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. lifted its stake in CAVA Group by 2.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 527,868 shares of the company’s stock valued at $59,544,000 after buying an additional 11,776 shares during the last quarter. Entropy Technologies LP acquired a new position in shares of CAVA Group in the fourth quarter valued at approximately $2,097,000. Empowered Funds LLC acquired a new position in shares of CAVA Group in the fourth quarter valued at approximately $5,007,000. Legacy Capital Wealth Partners LLC increased its holdings in shares of CAVA Group by 71.9% in the fourth quarter. Legacy Capital Wealth Partners LLC now owns 13,658 shares of the company’s stock valued at $1,541,000 after purchasing an additional 5,712 shares during the period. Finally, Jennison Associates LLC increased its holdings in shares of CAVA Group by 36,658.7% in the fourth quarter. Jennison Associates LLC now owns 2,461,732 shares of the company’s stock valued at $277,683,000 after purchasing an additional 2,455,035 shares during the period. Hedge funds and other institutional investors own 73.15% of the company’s stock.

Insiders Place Their Bets

In other news, insider Theodoros Xenohristos sold 9,348 shares of the company’s stock in a transaction on Friday, May 9th. The stock was sold at an average price of $94.88, for a total value of $886,938.24. Following the sale, the insider now directly owns 353,271 shares in the company, valued at $33,518,352.48. This represents a 2.58% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 6.80% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

CAVA has been the topic of a number of recent research reports. JPMorgan Chase & Co. raised CAVA Group from a “neutral” rating to an “overweight” rating and set a $110.00 target price on the stock in a report on Thursday, March 20th. Bank of America boosted their target price on CAVA Group from $112.00 to $121.00 and gave the company a “buy” rating in a report on Monday. Citigroup boosted their target price on CAVA Group from $114.00 to $115.00 and gave the company a “neutral” rating in a report on Friday, May 16th. Sanford C. Bernstein raised CAVA Group from a “market perform” rating to an “outperform” rating and set a $115.00 target price on the stock in a report on Wednesday, April 23rd. Finally, Barclays dropped their target price on CAVA Group from $104.00 to $90.00 and set an “equal weight” rating on the stock in a report on Tuesday, April 22nd. Five research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $123.00.

CAVA Group Stock Performance

CAVA opened at $83.80 on Thursday. The business’s fifty day moving average is $88.65 and its two-hundred day moving average is $110.97. The company has a market cap of $9.69 billion, a price-to-earnings ratio of 182.17 and a beta of 3.28. CAVA Group, Inc. has a one year low of $70.00 and a one year high of $172.43.

CAVA Group (NYSE:CAVA) last posted its earnings results on Thursday, May 15th. The company reported $0.22 EPS for the quarter, topping analysts’ consensus estimates of $0.14 by $0.08. The company had revenue of $331.83 million for the quarter, compared to the consensus estimate of $327.98 million. CAVA Group had a return on equity of 9.10% and a net margin of 5.88%. CAVA Group’s quarterly revenue was up 28.1% compared to the same quarter last year. During the same period in the previous year, the business earned $0.12 earnings per share. On average, analysts predict that CAVA Group, Inc. will post 0.5 EPS for the current fiscal year.

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.