Y Intercept Hong Kong Ltd Has $574,000 Stock Holdings in CAVA Group, Inc. $CAVA

Y Intercept Hong Kong Ltd decreased its position in shares of CAVA Group, Inc. (NYSE:CAVA) by 59.8% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 9,500 shares of the company’s stock after selling 14,159 shares during the period. Y Intercept Hong Kong Ltd’s holdings in CAVA Group were worth $574,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of CAVA. Envestnet Portfolio Solutions Inc. grew its stake in shares of CAVA Group by 6.0% in the third quarter. Envestnet Portfolio Solutions Inc. now owns 3,852 shares of the company’s stock valued at $233,000 after acquiring an additional 219 shares in the last quarter. Ridgewood Investments LLC raised its stake in CAVA Group by 13.8% in the 3rd quarter. Ridgewood Investments LLC now owns 5,398 shares of the company’s stock worth $299,000 after purchasing an additional 653 shares in the last quarter. Covestor Ltd boosted its holdings in CAVA Group by 16.6% in the 3rd quarter. Covestor Ltd now owns 2,600 shares of the company’s stock valued at $157,000 after purchasing an additional 371 shares during the period. CNB Bank grew its position in shares of CAVA Group by 275.8% during the 3rd quarter. CNB Bank now owns 575 shares of the company’s stock worth $35,000 after purchasing an additional 422 shares in the last quarter. Finally, Inspire Advisors LLC grew its position in shares of CAVA Group by 23.7% during the 3rd quarter. Inspire Advisors LLC now owns 5,806 shares of the company’s stock worth $351,000 after purchasing an additional 1,112 shares in the last quarter. Institutional investors and hedge funds own 73.15% of the company’s stock.

Insider Transactions at CAVA Group

In related news, insider Kenneth Robert Bertram sold 3,788 shares of the stock in a transaction that occurred on Wednesday, November 26th. The shares were sold at an average price of $50.70, for a total value of $192,051.60. Following the completion of the transaction, the insider owned 51,143 shares of the company’s stock, valued at $2,592,950.10. This represents a 6.90% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Kelly Costanza sold 1,707 shares of the firm’s stock in a transaction that occurred on Tuesday, January 27th. The shares were sold at an average price of $62.14, for a total transaction of $106,072.98. Following the completion of the sale, the insider owned 119,139 shares in the company, valued at $7,403,297.46. This represents a 1.41% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 42,843 shares of company stock valued at $2,764,355. 12.10% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the stock. Weiss Ratings reiterated a “hold (c)” rating on shares of CAVA Group in a research report on Wednesday, January 21st. UBS Group lifted their price objective on CAVA Group from $58.00 to $66.00 and gave the company a “neutral” rating in a report on Tuesday, January 6th. TD Cowen reissued a “buy” rating on shares of CAVA Group in a report on Monday, January 5th. Argus dropped their price target on CAVA Group from $76.00 to $60.00 and set a “buy” rating for the company in a research note on Thursday, November 13th. Finally, Stifel Nicolaus set a $75.00 price objective on shares of CAVA Group in a research report on Wednesday, November 5th. One research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and nine have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $81.57.

CAVA Group Stock Performance

Shares of CAVA opened at $60.87 on Wednesday. CAVA Group, Inc. has a 52-week low of $43.41 and a 52-week high of $144.49. The firm has a market cap of $7.06 billion, a price-to-earnings ratio of 52.47, a PEG ratio of 4.38 and a beta of 2.41. The business’s fifty day moving average is $60.25 and its 200-day moving average is $63.71.

CAVA Group (NYSE:CAVA) last released its quarterly earnings data on Tuesday, November 4th. The company reported $0.12 earnings per share for the quarter, missing the consensus estimate of $0.13 by ($0.01). The business had revenue of $292.24 million during the quarter, compared to analyst estimates of $292.88 million. CAVA Group had a net margin of 12.14% and a return on equity of 8.88%. The business’s quarterly revenue was up 19.9% compared to the same quarter last year. During the same period last year, the business earned $0.15 earnings per share. As a group, research analysts forecast that CAVA Group, Inc. will post 0.5 EPS for the current fiscal year.

CAVA Group Company Profile

CAVA Group, Inc (NYSE: CAVA) is a leading fast-casual restaurant company specializing in Mediterranean-inspired cuisine. Operating under the CAVA brand, the company offers customizable bowls, pitas and salads built around a variety of proteins, grains, fresh vegetables and house-made spreads. With a focus on high-quality ingredients and made-to-order preparation, CAVA aims to deliver a casual yet elevated dining experience for dine-in, takeout and catering customers.

Founded in 2011 in the Washington, DC metro area by Ike Grigoropoulos, Dimitri Katsanis and Brett Schulman, CAVA has pursued an aggressive growth strategy that included the 2018 acquisition of Zoe’s Kitchen.