Franklin Resources Inc. Increases Holdings in CAVA Group, Inc. (NYSE:CAVA)

Franklin Resources Inc. lifted its holdings in shares of CAVA Group, Inc. (NYSE:CAVA) by 0.2% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 986,725 shares of the company’s stock after acquiring an additional 2,310 shares during the quarter. Franklin Resources Inc.’s holdings in CAVA Group were worth $132,961,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in CAVA. Nemes Rush Group LLC purchased a new position in shares of CAVA Group during the 2nd quarter worth approximately $28,000. Mark Sheptoff Financial Planning LLC bought a new position in shares of CAVA Group in the 2nd quarter worth about $36,000. Headlands Technologies LLC purchased a new position in CAVA Group during the 2nd quarter valued at about $37,000. GAMMA Investing LLC boosted its stake in CAVA Group by 68.3% during the third quarter. GAMMA Investing LLC now owns 308 shares of the company’s stock worth $38,000 after acquiring an additional 125 shares in the last quarter. Finally, Sunbelt Securities Inc. purchased a new stake in CAVA Group in the third quarter worth about $50,000. Hedge funds and other institutional investors own 73.15% of the company’s stock.

CAVA Group Price Performance

Shares of CAVA stock opened at $124.05 on Monday. CAVA Group, Inc. has a 1 year low of $39.05 and a 1 year high of $172.43. The firm has a fifty day moving average price of $137.67 and a 200-day moving average price of $113.38. The company has a market cap of $14.21 billion, a price-to-earnings ratio of 269.67 and a beta of 2.93.

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

Insider Activity

In other CAVA Group news, Director Karen Kochevar sold 15,000 shares of the company’s stock in a transaction that occurred on 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 directly owns 1,307 shares in the company, valued at $185,894.61. This represents a 91.99 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Ronald M. Shaich sold 622,549 shares of the business’s stock in a transaction 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 directly owns 6,307 shares in the company, valued at $942,265.80. This trade represents a 99.00 % decrease in their position. 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 three months. Company insiders own 12.10% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on CAVA shares. TD Securities lifted their price objective on CAVA Group from $115.00 to $130.00 and gave the company a “buy” rating in a research note on Tuesday, September 24th. William Blair reiterated an “outperform” rating on shares of CAVA Group in a research note on Wednesday, November 13th. Piper Sandler raised their price target 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. Robert W. Baird upped their price target on CAVA Group from $125.00 to $148.00 and gave the company an “outperform” rating in a report on Monday, November 4th. Finally, UBS Group began coverage on CAVA Group in a research report on Friday, September 27th. They issued a “neutral” rating and a $135.00 target price for the company. Eight research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $143.80.

CAVA Group Company 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.