CAVA Group, Inc. (NYSE:CAVA) Shares Sold by Invesco Ltd.

Invesco Ltd. reduced its position in CAVA Group, Inc. (NYSE:CAVA) by 26.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 851,753 shares of the company’s stock after selling 305,172 shares during the period. Invesco Ltd. owned about 0.74% of CAVA Group worth $96,078,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in CAVA. Jennison Associates LLC raised its holdings in shares of CAVA Group by 36,658.7% during the fourth quarter. Jennison Associates LLC now owns 2,461,732 shares of the company’s stock worth $277,683,000 after acquiring an additional 2,455,035 shares in the last quarter. Vanguard Group Inc. boosted its holdings in shares of CAVA Group by 20.4% during the 4th quarter. Vanguard Group Inc. now owns 8,011,602 shares of the company’s stock worth $903,709,000 after buying an additional 1,357,187 shares during the period. Geode Capital Management LLC grew its position in shares of CAVA Group by 121.0% in the third quarter. Geode Capital Management LLC now owns 1,222,834 shares of the company’s stock valued at $151,492,000 after purchasing an additional 669,599 shares during the last quarter. Norges Bank acquired a new stake in CAVA Group in the 4th quarter valued at approximately $64,538,000. Finally, Raymond James Financial Inc. acquired a new position in CAVA Group during the 4th quarter valued at $59,516,000. 73.15% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages recently commented on CAVA. Wedbush reaffirmed an “outperform” rating and issued a $150.00 target price on shares of CAVA Group in a research report on Wednesday, February 26th. Piper Sandler upgraded CAVA Group from a “neutral” rating to an “overweight” rating and decreased their price target for the stock from $142.00 to $115.00 in a research report on Friday, February 28th. Bank of America began coverage on shares of CAVA Group in a research report on Monday, March 31st. They issued a “buy” rating and a $112.00 price objective for the company. TD Securities dropped their price target on shares of CAVA Group from $150.00 to $130.00 and set a “buy” rating for the company in a research note on Wednesday, February 26th. Finally, Robert W. Baird set a $105.00 target price on shares of CAVA Group and gave the stock an “outperform” rating in a report on Monday, April 7th. Six research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $127.56.

Insider Buying and Selling

In related news, CFO Tricia K. Tolivar sold 2,086 shares of CAVA Group stock in a transaction dated Tuesday, January 21st. The stock was sold at an average price of $119.18, for a total value of $248,609.48. Following the completion of the sale, the chief financial officer now owns 235,592 shares of the company’s stock, valued at approximately $28,077,854.56. This trade represents a 0.88 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CAO Adam David Phillips sold 615 shares of the company’s stock in a transaction dated Monday, January 27th. The shares were sold at an average price of $124.39, for a total transaction of $76,499.85. Following the sale, the chief accounting officer now directly owns 10,884 shares in the company, valued at approximately $1,353,860.76. This trade represents a 5.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 29,235 shares of company stock valued at $3,514,101. 12.10% of the stock is owned by company insiders.

CAVA Group Price Performance

NYSE:CAVA opened at $90.01 on Monday. The company has a market cap of $10.40 billion, a PE ratio of 195.68 and a beta of 3.33. CAVA Group, Inc. has a one year low of $58.22 and a one year high of $172.43. The firm has a 50-day moving average of $97.49 and a 200-day moving average of $118.58.

CAVA Group (NYSE:CAVA) last issued 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, equities research analysts expect that CAVA Group, Inc. will post 0.5 earnings per share for the current fiscal 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.