Nomura Asset Management Co. Ltd. Buys New Stake in CAVA Group, Inc. (NYSE:CAVA)

Nomura Asset Management Co. Ltd. acquired a new stake in shares of CAVA Group, Inc. (NYSE:CAVA) in the 3rd quarter, Holdings Channel.com reports. The fund acquired 2,301 shares of the company’s stock, valued at approximately $285,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Nemes Rush Group LLC purchased a new stake in shares of CAVA Group in the second quarter worth about $28,000. Mark Sheptoff Financial Planning LLC purchased a new stake in shares of CAVA Group during the 2nd quarter worth approximately $36,000. Headlands Technologies LLC purchased a new stake in shares of CAVA Group during the 2nd quarter worth approximately $37,000. GAMMA Investing LLC grew its holdings in shares of CAVA Group by 68.3% in the third quarter. GAMMA Investing LLC now owns 308 shares of the company’s stock valued at $38,000 after purchasing an additional 125 shares in the last quarter. Finally, West Oak Capital LLC bought a new stake in CAVA Group in the second quarter worth $81,000. Institutional investors own 73.15% of the company’s stock.

CAVA Group Trading Down 1.1 %

NYSE CAVA opened at $124.05 on Monday. CAVA Group, Inc. has a 12 month low of $39.05 and a 12 month high of $172.43. The company’s 50-day moving average price is $137.67 and its 200-day moving average price is $113.38. The stock has a market cap of $14.21 billion, a PE ratio of 269.67 and a beta of 2.93.

CAVA Group (NYSE:CAVA) last issued its 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. CAVA Group had a net margin of 5.88% and a return on equity of 9.10%. The business had revenue of $243.82 million for the quarter, compared to analyst estimates of $233.05 million. During the same period last year, the company posted $0.06 earnings per share. The company’s quarterly revenue was up 38.9% compared to the same quarter last year. As a group, sell-side analysts forecast that CAVA Group, Inc. will post 0.5 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director Karen Kochevar sold 15,000 shares of the stock in a transaction 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 transaction, the director now 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 filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Ronald M. Shaich sold 622,549 shares of CAVA Group stock in a transaction dated Monday, December 9th. The shares were sold at an average price of $149.40, for a total value of $93,008,820.60. Following the completion of the sale, the director now owns 6,307 shares of the company’s stock, valued at $942,265.80. The trade was a 99.00 % decrease in their ownership of the stock. 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 ninety days. 12.10% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of brokerages have commented on CAVA. William Blair reissued an “outperform” rating on shares of CAVA Group in a research note on Wednesday, November 13th. Piper Sandler boosted their price objective on CAVA Group from $100.00 to $142.00 and gave the stock a “neutral” rating in a research note on Friday, November 15th. Stifel Nicolaus raised their price objective on CAVA Group from $118.00 to $175.00 and gave the company a “buy” rating in a research note on Wednesday, November 13th. JPMorgan Chase & Co. boosted their target price on CAVA Group from $90.00 to $110.00 and gave the company a “neutral” rating in a research report on Wednesday, November 13th. Finally, UBS Group began coverage on CAVA Group in a report on Friday, September 27th. They set a “neutral” rating and a $135.00 price target on the stock. Eight investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $143.80.

About CAVA Group

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.