Modus Advisors LLC Buys 353 Shares of CAVA Group, Inc. (NYSE:CAVA)

Modus Advisors LLC grew its stake in CAVA Group, Inc. (NYSE:CAVA) by 8.0% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,791 shares of the company’s stock after acquiring an additional 353 shares during the quarter. Modus Advisors LLC’s holdings in CAVA Group were worth $540,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Nemes Rush Group LLC acquired a new position in shares of CAVA Group during the second quarter worth about $28,000. Mark Sheptoff Financial Planning LLC bought a new position in shares of CAVA Group during the 2nd quarter worth approximately $36,000. Headlands Technologies LLC bought a new position in shares of CAVA Group during the 2nd quarter worth approximately $37,000. GAMMA Investing LLC raised its holdings in shares of CAVA Group by 68.3% in the third quarter. GAMMA Investing LLC now owns 308 shares of the company’s stock valued at $38,000 after purchasing an additional 125 shares during the last quarter. Finally, Sunbelt Securities Inc. bought a new stake in shares of CAVA Group in the third quarter worth $50,000. Institutional investors own 73.15% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the stock. TD Cowen lifted their price target on shares of CAVA Group from $130.00 to $150.00 and gave the company a “buy” rating in a research note on Wednesday, November 13th. Sanford C. Bernstein initiated coverage on CAVA Group in a research report on Wednesday, November 20th. They issued a “market perform” rating and a $145.00 target price on the stock. Citigroup increased their price target on CAVA Group from $140.00 to $163.00 and gave the company a “neutral” rating in a research report on Wednesday, November 13th. Argus boosted their price target on CAVA Group from $104.00 to $128.00 and gave the stock a “buy” rating in a research report on Wednesday, September 11th. Finally, Morgan Stanley increased their price objective on CAVA Group from $123.00 to $135.00 and gave the company an “equal weight” rating in a report on Thursday, November 14th. Eight analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $143.80.

CAVA Group Stock Performance

CAVA traded down $0.83 on Friday, reaching $114.35. The company had a trading volume of 457,968 shares, compared to its average volume of 1,296,883. The stock has a market cap of $13.10 billion, a P/E ratio of 248.59 and a beta of 2.93. CAVA Group, Inc. has a fifty-two week low of $39.12 and a fifty-two week high of $172.43. The company’s fifty day moving average is $133.02 and its 200 day moving average is $115.72.

CAVA Group (NYSE:CAVA) last released its quarterly earnings results on Tuesday, November 12th. The company reported $0.15 earnings per share for the quarter, topping the consensus estimate of $0.11 by $0.04. CAVA Group had a return on equity of 9.10% and a net margin of 5.88%. The business had revenue of $243.82 million during the quarter, compared to analysts’ expectations of $233.05 million. During the same period last year, the firm posted $0.06 EPS. The firm’s revenue for the quarter was up 38.9% compared to the same quarter last year. On average, sell-side analysts expect that CAVA Group, Inc. will post 0.5 EPS for the current year.

Insider Buying and Selling

In related news, Director Karen Kochevar sold 15,000 shares of the business’s stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $142.23, for a total value of $2,133,450.00. Following the completion of the transaction, the director now owns 1,307 shares of the company’s stock, valued at $185,894.61. The trade was a 91.99 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Ronald M. Shaich sold 622,549 shares of the company’s stock in a transaction dated 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 sale, the director now directly owns 6,307 shares of the company’s stock, valued at $942,265.80. This represents a 99.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 652,549 shares of company stock valued at $97,242,271. 12.10% of the stock is owned by company insiders.

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.