Geode Capital Management LLC Has $140.58 Million Stake in CAVA Group, Inc. (NYSE:CAVA)

Geode Capital Management LLC grew its stake in shares of CAVA Group, Inc. (NYSE:CAVA) by 1.7% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 1,243,954 shares of the company’s stock after buying an additional 21,120 shares during the period. Geode Capital Management LLC owned approximately 1.09% of CAVA Group worth $140,583,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in CAVA. Vanguard Group Inc. raised its holdings in CAVA Group by 20.4% in the 4th quarter. Vanguard Group Inc. now owns 8,011,602 shares of the company’s stock valued at $903,709,000 after acquiring an additional 1,357,187 shares in the last quarter. Jennison Associates LLC raised its stake in shares of CAVA Group by 36,658.7% in the fourth quarter. Jennison Associates LLC now owns 2,461,732 shares of the company’s stock valued at $277,683,000 after purchasing an additional 2,455,035 shares in the last quarter. Lord Abbett & CO. LLC lifted its position in CAVA Group by 1.5% in the third quarter. Lord Abbett & CO. LLC now owns 1,358,250 shares of the company’s stock worth $168,219,000 after purchasing an additional 19,493 shares during the period. State Street Corp boosted its stake in CAVA Group by 33.3% during the third quarter. State Street Corp now owns 1,267,333 shares of the company’s stock worth $156,959,000 after buying an additional 316,514 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership increased its holdings in CAVA Group by 62.8% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 1,246,209 shares of the company’s stock valued at $140,572,000 after buying an additional 480,900 shares during the period. Institutional investors own 73.15% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently weighed in on CAVA. UBS Group decreased their target price on shares of CAVA Group from $160.00 to $125.00 and set a “neutral” rating on the stock in a research report on Tuesday, January 7th. Bank of America started coverage on CAVA Group in a report on Monday, March 31st. They set a “buy” rating and a $112.00 price objective on the stock. TD Securities dropped their target price on CAVA Group from $150.00 to $130.00 and set a “buy” rating for the company in a report on Wednesday, February 26th. Piper Sandler raised CAVA Group from a “neutral” rating to an “overweight” rating and decreased their price target for the company from $142.00 to $115.00 in a research note on Friday, February 28th. Finally, Citigroup dropped their price objective on CAVA Group from $163.00 to $140.00 and set a “neutral” rating for the company in a research note on Friday, February 21st. Six analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $127.56.

Insider Buying and Selling

In other CAVA Group news, CAO Adam David Phillips sold 615 shares of CAVA Group stock in a transaction on Monday, January 27th. The shares were sold at an average price of $124.39, for a total transaction of $76,499.85. Following the completion of the sale, the chief accounting officer now owns 10,884 shares of the company’s stock, valued at approximately $1,353,860.76. The trade was a 5.35 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Kenneth Robert Bertram sold 678 shares of the company’s stock in a transaction on Monday, January 27th. The shares were sold at an average price of $124.39, for a total transaction of $84,336.42. Following the sale, the insider now owns 57,312 shares of the company’s stock, valued at $7,129,039.68. The trade was a 1.17 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 29,235 shares of company stock worth $3,514,101 over the last three months. 12.10% of the stock is currently owned by company insiders.

CAVA Group Trading Up 5.4 %

Shares of NYSE CAVA opened at $79.24 on Tuesday. CAVA Group, Inc. has a 1-year low of $58.22 and a 1-year high of $172.43. The company has a 50-day moving average of $103.40 and a two-hundred day moving average of $120.25. The company has a market cap of $9.16 billion, a PE ratio of 172.25 and a beta of 3.33.

CAVA Group (NYSE:CAVA) last announced its quarterly earnings data on Tuesday, February 25th. The company reported $0.05 EPS for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.01). The firm had revenue of $227.40 million during the quarter, compared to the consensus estimate of $223.34 million. CAVA Group had a net margin of 5.88% and a return on equity of 9.10%. As a group, equities research analysts forecast that CAVA Group, Inc. will post 0.5 earnings per share for the current 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.