Harvest Fund Management Co. Ltd Acquires 901 Shares of CAVA Group, Inc. (NYSE:CAVA)

Harvest Fund Management Co. Ltd grew its holdings in CAVA Group, Inc. (NYSE:CAVA) by 172.9% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 1,422 shares of the company’s stock after buying an additional 901 shares during the quarter. Harvest Fund Management Co. Ltd’s holdings in CAVA Group were worth $176,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. SpiderRock Advisors LLC increased its position in CAVA Group by 8.9% in the 3rd quarter. SpiderRock Advisors LLC now owns 479,319 shares of the company’s stock valued at $59,364,000 after acquiring an additional 39,319 shares in the last quarter. Xponance Inc. lifted its position in shares of CAVA Group by 95.2% during the second quarter. Xponance Inc. now owns 9,846 shares of the company’s stock worth $913,000 after purchasing an additional 4,803 shares in the last quarter. PFG Investments LLC grew its stake in shares of CAVA Group by 36.8% during the third quarter. PFG Investments LLC now owns 15,907 shares of the company’s stock valued at $1,970,000 after purchasing an additional 4,275 shares during the last quarter. Intech Investment Management LLC acquired a new stake in shares of CAVA Group in the second quarter valued at approximately $1,728,000. Finally, Aigen Investment Management LP bought a new position in CAVA Group in the 3rd quarter worth approximately $1,293,000. 73.15% of the stock is owned by institutional investors.

CAVA Group Stock Down 1.6 %

Shares of NYSE CAVA opened at $141.23 on Thursday. CAVA Group, Inc. has a twelve month low of $31.47 and a twelve month high of $172.43. The stock has a market cap of $16.18 billion, a price-to-earnings ratio of 307.02 and a beta of 3.23. The company’s fifty day moving average is $134.47 and its 200-day moving average is $108.08.

CAVA Group (NYSE:CAVA) last issued its quarterly earnings data on Tuesday, November 12th. The company reported $0.15 EPS 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 for the quarter, compared to the consensus estimate of $233.05 million. During the same quarter last year, the business posted $0.06 EPS. The firm’s revenue was up 38.9% compared to the same quarter last year. On average, 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 stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $142.23, for a total transaction of $2,133,450.00. Following the completion of the sale, the director now directly owns 1,307 shares of the company’s stock, valued at approximately $185,894.61. This represents a 91.99 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 12.10% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on CAVA. Wedbush increased their price objective on CAVA Group from $155.00 to $190.00 and gave the company an “outperform” rating in a research report on Wednesday, November 13th. Jefferies Financial Group raised their price target on CAVA Group from $94.00 to $117.00 and gave the company a “buy” rating in a report on Friday, August 23rd. Robert W. Baird boosted their price objective on CAVA Group from $125.00 to $148.00 and gave the stock an “outperform” rating in a report on Monday, November 4th. Argus raised their target price on shares of CAVA Group from $104.00 to $128.00 and gave the company a “buy” rating in a research note on Wednesday, September 11th. Finally, UBS Group began coverage on shares of CAVA Group in a research report on Friday, September 27th. They set a “neutral” rating and a $135.00 price target for the company. Eight research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $143.80.

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.