CHURCHILL MANAGEMENT Corp Sells 2,539 Shares of CAVA Group, Inc. (NYSE:CAVA)

CHURCHILL MANAGEMENT Corp lowered its stake in CAVA Group, Inc. (NYSE:CAVA) by 5.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 48,626 shares of the company’s stock after selling 2,539 shares during the period. CHURCHILL MANAGEMENT Corp’s holdings in CAVA Group were worth $5,485,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in CAVA. FMR LLC boosted its stake in shares of CAVA Group by 0.9% during the 3rd quarter. FMR LLC now owns 3,485,033 shares of the company’s stock valued at $431,621,000 after purchasing an additional 29,668 shares in the last quarter. Two Sigma Advisers LP boosted its position in CAVA Group by 17.0% during the 3rd quarter. Two Sigma Advisers LP now owns 2,210,900 shares of the company’s stock valued at $273,820,000 after acquiring an additional 321,800 shares in the last quarter. Lord Abbett & CO. LLC grew its holdings in shares of CAVA Group by 1.5% during the 3rd quarter. Lord Abbett & CO. LLC now owns 1,358,250 shares of the company’s stock worth $168,219,000 after acquiring an additional 19,493 shares during the period. State Street Corp raised its position in shares of CAVA Group by 33.3% in the 3rd quarter. State Street Corp now owns 1,267,333 shares of the company’s stock worth $156,959,000 after acquiring an additional 316,514 shares in the last quarter. Finally, Geode Capital Management LLC lifted its stake in shares of CAVA Group by 121.0% in the 3rd quarter. Geode Capital Management LLC now owns 1,222,834 shares of the company’s stock valued at $151,492,000 after purchasing an additional 669,599 shares during the period. 73.15% of the stock is owned by hedge funds and other institutional investors.

CAVA Group Stock Up 2.6 %

Shares of NYSE CAVA opened at $115.30 on Thursday. The company has a market cap of $13.21 billion, a PE ratio of 250.65 and a beta of 3.21. The firm’s 50-day moving average price is $129.28 and its 200-day moving average price is $117.23. CAVA Group, Inc. has a 52-week low of $42.65 and a 52-week high of $172.43.

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

Insider Transactions at CAVA Group

In related news, Director Karen Kochevar sold 15,000 shares of the business’s stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $140.00, for a total transaction of $2,100,000.00. Following the completion of the transaction, the director now directly owns 1,307 shares in the company, valued at approximately $182,980. The trade was a 91.99 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Ronald M. Shaich sold 622,549 shares of the company’s stock in a transaction that occurred on 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 completion of the transaction, the director now owns 6,307 shares of the company’s stock, valued at approximately $942,265.80. The trade was a 99.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 652,549 shares of company stock worth $97,242,271 in the last 90 days. 12.10% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on CAVA. TD Securities increased their price objective on CAVA Group from $115.00 to $130.00 and gave the stock a “buy” rating in a report on Tuesday, September 24th. Loop Capital increased their price target on shares of CAVA Group from $122.00 to $147.00 and gave the stock a “hold” rating in a research note on Thursday, November 14th. Piper Sandler boosted their price objective on shares of CAVA Group from $100.00 to $142.00 and gave the stock a “neutral” rating in a research note on Friday, November 15th. UBS Group cut their price objective on shares of CAVA Group from $160.00 to $125.00 and set a “neutral” rating on the stock in a report on Tuesday, January 7th. Finally, Stifel Nicolaus lifted their target price on shares of CAVA Group from $118.00 to $175.00 and gave the company a “buy” rating in a report on Wednesday, November 13th. Eight research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price 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.