Vanguard Group Inc. Acquires 1,357,187 Shares of CAVA Group, Inc. (NYSE:CAVA)

Vanguard Group Inc. grew its holdings in shares of CAVA Group, Inc. (NYSE:CAVA) by 20.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 8,011,602 shares of the company’s stock after purchasing an additional 1,357,187 shares during the quarter. Vanguard Group Inc. owned about 6.99% of CAVA Group worth $903,709,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also modified their holdings of CAVA. LPL Financial LLC lifted its position in shares of CAVA Group by 24.7% in the fourth quarter. LPL Financial LLC now owns 145,130 shares of the company’s stock worth $16,371,000 after buying an additional 28,787 shares during the last quarter. KLP Kapitalforvaltning AS bought a new position in shares of CAVA Group in the 4th quarter valued at approximately $1,850,000. AXQ Capital LP acquired a new stake in CAVA Group in the 4th quarter worth approximately $911,000. Sei Investments Co. boosted its position in CAVA Group by 131.3% during the fourth quarter. Sei Investments Co. now owns 58,928 shares of the company’s stock worth $6,647,000 after purchasing an additional 33,451 shares during the period. Finally, American Century Companies Inc. grew its holdings in CAVA Group by 91.6% during the fourth quarter. American Century Companies Inc. now owns 80,241 shares of the company’s stock valued at $9,051,000 after purchasing an additional 38,363 shares during the last quarter. Institutional investors and hedge funds own 73.15% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the stock. Piper Sandler raised shares of CAVA Group from a “neutral” rating to an “overweight” rating and decreased their price objective for the stock from $142.00 to $115.00 in a report on Friday, February 28th. TD Securities lowered their price target on CAVA Group from $150.00 to $130.00 and set a “buy” rating on the stock in a research report on Wednesday, February 26th. Citigroup cut their price objective on CAVA Group from $163.00 to $140.00 and set a “neutral” rating for the company in a research report on Friday, February 21st. William Blair reaffirmed an “outperform” rating on shares of CAVA Group in a report on Wednesday, February 26th. Finally, Loop Capital dropped their price target on CAVA Group from $147.00 to $100.00 and set a “hold” rating on the stock in a research report on Thursday, February 27th. Six equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat.com, CAVA Group has a consensus rating of “Moderate Buy” and an average price target of $131.47.

CAVA Group Stock Performance

Shares of CAVA stock opened at $85.75 on Friday. The firm has a fifty day moving average of $108.04 and a 200-day moving average of $121.93. CAVA Group, Inc. has a 52-week low of $58.22 and a 52-week high of $172.43. The stock has a market cap of $9.91 billion, a price-to-earnings ratio of 186.41 and a beta of 3.58.

CAVA Group (NYSE:CAVA) last announced its quarterly earnings results on Tuesday, February 25th. The company reported $0.05 EPS for the quarter, missing analysts’ consensus estimates 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, sell-side analysts predict that CAVA Group, Inc. will post 0.5 earnings per share for the current year.

Insider Buying and Selling

In other CAVA Group news, insider Kenneth Robert Bertram sold 678 shares of the stock in a transaction on Monday, January 27th. The stock was sold at an average price of $124.39, for a total transaction of $84,336.42. Following the completion of the transaction, the insider now directly 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 legal filing with the SEC, which can be accessed through this link. Also, CEO Brett Schulman sold 20,564 shares of the business’s stock in a transaction on Tuesday, January 21st. The shares were sold at an average price of $119.18, for a total transaction of $2,450,817.52. Following the completion of the sale, the chief executive officer now owns 776,369 shares in the company, valued at $92,527,657.42. This represents a 2.58 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 29,235 shares of company stock worth $3,514,101 in the last 90 days. 12.10% of the stock is owned by company insiders.

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.