Encompass More Asset Management Invests $452,000 in CAVA Group, Inc. (NYSE:CAVA)

Encompass More Asset Management bought a new stake in CAVA Group, Inc. (NYSE:CAVA) in the fourth quarter, HoldingsChannel reports. The fund bought 4,007 shares of the company’s stock, valued at approximately $452,000.

Several other large investors have also modified their holdings of CAVA. Nemes Rush Group LLC purchased a new position in shares of CAVA Group in the 2nd quarter valued at approximately $28,000. GAMMA Investing LLC increased its holdings in CAVA Group by 68.3% during the 3rd quarter. GAMMA Investing LLC now owns 308 shares of the company’s stock valued at $38,000 after acquiring an additional 125 shares in the last quarter. Sunbelt Securities Inc. acquired a new position in shares of CAVA Group during the 3rd quarter worth approximately $50,000. Burkett Financial Services LLC purchased a new stake in shares of CAVA Group in the fourth quarter valued at $56,000. Finally, Northwestern Mutual Wealth Management Co. boosted its holdings in shares of CAVA Group by 98.0% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 875 shares of the company’s stock worth $81,000 after purchasing an additional 433 shares during the last quarter. 73.15% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms recently issued reports on CAVA. Morgan Stanley increased their target price on shares of CAVA Group from $123.00 to $135.00 and gave the stock an “equal weight” rating in a research report on Thursday, November 14th. Wedbush increased their price objective on shares of CAVA Group from $155.00 to $190.00 and gave the company an “outperform” rating in a research note on Wednesday, November 13th. Piper Sandler boosted their price objective on shares of CAVA Group from $100.00 to $142.00 and gave the company a “neutral” rating in a research report on Friday, November 15th. JPMorgan Chase & Co. increased their target price on CAVA Group from $90.00 to $110.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 13th. Finally, Loop Capital lifted their price target on CAVA Group from $122.00 to $147.00 and gave the company a “hold” rating in a report on Thursday, November 14th. Eight analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $142.13.

Insider Buying and Selling

In other news, CFO Tricia K. Tolivar sold 2,086 shares of the firm’s stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $119.18, for a total transaction of $248,609.48. Following the completion of the transaction, the chief financial officer now directly owns 235,592 shares of the company’s stock, valued at approximately $28,077,854.56. This trade represents a 0.88 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Theodoros Xenohristos sold 851 shares of the company’s stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $119.18, for a total transaction of $101,422.18. Following the completion of the sale, the insider now directly owns 358,995 shares in the company, valued at approximately $42,785,024.10. The trade was a 0.24 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 676,050 shares of company stock valued at $100,043,120 over the last three months. 12.10% of the stock is owned by corporate insiders.

CAVA Group Stock Up 0.7 %

NYSE CAVA opened at $124.86 on Friday. The stock has a market capitalization of $14.31 billion, a PE ratio of 271.66 and a beta of 3.21. CAVA Group, Inc. has a 12-month low of $44.80 and a 12-month high of $172.43. The company has a 50 day moving average price of $126.66 and a two-hundred day moving average price of $118.09.

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