Scientech Research LLC Has $1.30 Million Stock Position in CAVA Group, Inc. (NYSE:CAVA)

Scientech Research LLC lowered its stake in CAVA Group, Inc. (NYSE:CAVA) by 23.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 11,485 shares of the company’s stock after selling 3,453 shares during the quarter. Scientech Research LLC’s holdings in CAVA Group were worth $1,296,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Charles Schwab Investment Management Inc. boosted its stake in shares of 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 period. Entropy Technologies LP bought a new stake in shares of CAVA Group in the fourth quarter valued at approximately $2,097,000. Empowered Funds LLC bought a new stake in shares of CAVA Group in the fourth quarter valued at approximately $5,007,000. Legacy Capital Wealth Partners LLC boosted its stake 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 buying an additional 5,712 shares during the period. Finally, Jennison Associates LLC boosted its stake 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 buying an additional 2,455,035 shares during the period. Institutional investors and hedge funds own 73.15% of the company’s stock.

CAVA Group Stock Down 2.1%

Shares of NYSE:CAVA opened at $97.03 on Friday. The firm has a market cap of $11.22 billion, a P/E ratio of 210.93 and a beta of 3.28. CAVA Group, Inc. has a 12-month low of $70.00 and a 12-month high of $172.43. The business has a fifty day simple moving average of $88.07 and a 200 day simple moving average of $111.91.

CAVA Group (NYSE:CAVA) last announced its earnings results on Thursday, May 15th. The company reported $0.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.14 by $0.08. The business had revenue of $331.83 million during the quarter, compared to analyst estimates of $327.98 million. CAVA Group had a return on equity of 9.10% and a net margin of 5.88%. As a group, equities research analysts expect that CAVA Group, Inc. will post 0.5 EPS for the current year.

Insider Buying and Selling

In other CAVA Group news, insider Theodoros Xenohristos sold 9,348 shares of the stock in a transaction dated 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 sale, the insider now directly owns 353,271 shares in the company, valued at approximately $33,518,352.48. This trade represents a 2.58% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 6.80% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

CAVA has been the subject of several recent research reports. JPMorgan Chase & Co. upgraded CAVA Group from a “neutral” rating to an “overweight” rating and set a $110.00 price target for the company in a research note on Thursday, March 20th. Bank of America assumed coverage on CAVA Group in a research note on Monday, March 31st. They set a “buy” rating and a $112.00 target price for the company. Loop Capital cut their target price on CAVA Group from $147.00 to $100.00 and set a “hold” rating for the company in a research note on Thursday, February 27th. 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. Finally, Robert W. Baird upped their target price on CAVA Group from $105.00 to $115.00 and gave the stock an “outperform” rating in a research note on Friday. 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.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $122.44.

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.