Forum Financial Management LP Acquires Shares of 2,035 CAVA Group, Inc. (NYSE:CAVA)

Forum Financial Management LP bought a new position in shares of CAVA Group, Inc. (NYSE:CAVA) in the fourth quarter, Holdings Channel reports. The firm bought 2,035 shares of the company’s stock, valued at approximately $230,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Arcadia Investment Management Corp MI acquired a new stake in shares of CAVA Group during the fourth quarter worth $25,000. Allworth Financial LP lifted its stake in CAVA Group by 369.2% in the fourth quarter. Allworth Financial LP now owns 244 shares of the company’s stock valued at $30,000 after buying an additional 192 shares during the period. Larson Financial Group LLC boosted its holdings in CAVA Group by 274.0% during the fourth quarter. Larson Financial Group LLC now owns 273 shares of the company’s stock worth $31,000 after buying an additional 200 shares during the last quarter. Whittier Trust Co. grew its position in shares of CAVA Group by 80.9% during the 4th quarter. Whittier Trust Co. now owns 284 shares of the company’s stock worth $32,000 after buying an additional 127 shares during the period. Finally, Signaturefd LLC increased its stake in shares of CAVA Group by 884.4% in the 4th quarter. Signaturefd LLC now owns 315 shares of the company’s stock valued at $36,000 after acquiring an additional 283 shares during the last quarter. Institutional investors own 73.15% of the company’s stock.

Insider Activity

In other CAVA Group news, insider Kenneth Robert Bertram sold 678 shares of the company’s stock in a transaction that occurred on Monday, January 27th. The stock was sold at an average price of $124.39, for a total value of $84,336.42. Following the sale, the insider now owns 57,312 shares in the company, valued at $7,129,039.68. This represents a 1.17 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Brett Schulman sold 2,936 shares of CAVA Group stock in a transaction that occurred on Monday, January 27th. The stock was sold at an average price of $124.39, for a total value of $365,209.04. Following the transaction, the chief executive officer now owns 773,433 shares of the company’s stock, valued at $96,207,330.87. This represents a 0.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 5,734 shares of company stock valued at $713,252. 12.10% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on CAVA. UBS Group decreased their price objective on shares of CAVA Group from $160.00 to $125.00 and set a “neutral” rating for the company in a report on Tuesday, January 7th. Wedbush reissued an “outperform” rating and issued a $150.00 price target on shares of CAVA Group in a report on Wednesday, February 26th. Citigroup lowered their price objective on shares of CAVA Group from $163.00 to $140.00 and set a “neutral” rating for the company in a research report on Friday, February 21st. Bank of America assumed coverage on CAVA Group in a report on Monday, March 31st. They set a “buy” rating and a $112.00 target price on the stock. Finally, Loop Capital lowered their price target on CAVA Group from $147.00 to $100.00 and set a “hold” rating for the company in a report on Thursday, February 27th. Six equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $126.06.

CAVA Group Stock Up 1.1 %

Shares of CAVA stock opened at $81.28 on Wednesday. CAVA Group, Inc. has a 12 month low of $59.02 and a 12 month high of $172.43. The company’s fifty day simple moving average is $90.32 and its 200-day simple moving average is $116.74. The firm has a market cap of $9.40 billion, a PE ratio of 176.70 and a beta of 3.33.

CAVA Group (NYSE:CAVA) last issued its quarterly earnings results on Tuesday, February 25th. The company reported $0.05 EPS for the quarter, missing the consensus estimate of $0.06 by ($0.01). The business had revenue of $227.40 million for the quarter, compared to the consensus estimate of $223.34 million. CAVA Group had a return on equity of 9.10% and a net margin of 5.88%. On average, equities analysts predict that CAVA Group, Inc. will post 0.5 earnings per share for the current fiscal year.

CAVA Group Profile

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.