ING Groep NV Purchases Shares of 143,300 CAVA Group, Inc. (NYSE:CAVA)

ING Groep NV acquired a new stake in CAVA Group, Inc. (NYSE:CAVA) in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm acquired 143,300 shares of the company’s stock, valued at approximately $17,748,000. ING Groep NV owned 0.13% of CAVA Group at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Capital Research Global Investors raised its stake in CAVA Group by 21.6% in the first quarter. Capital Research Global Investors now owns 5,311,335 shares of the company’s stock valued at $372,059,000 after buying an additional 942,054 shares during the period. Vanguard Group Inc. raised its stake in CAVA Group by 215.7% in the 1st quarter. Vanguard Group Inc. now owns 4,944,036 shares of the company’s stock valued at $346,330,000 after acquiring an additional 3,377,840 shares during the period. Federated Hermes Inc. boosted its position in CAVA Group by 9.7% during the second quarter. Federated Hermes Inc. now owns 1,060,029 shares of the company’s stock worth $98,318,000 after purchasing an additional 93,635 shares during the period. Renaissance Technologies LLC boosted its position in CAVA Group by 102.5% during the second quarter. Renaissance Technologies LLC now owns 892,400 shares of the company’s stock worth $82,770,000 after purchasing an additional 451,800 shares during the period. Finally, Driehaus Capital Management LLC increased its holdings in shares of CAVA Group by 51.8% in the second quarter. Driehaus Capital Management LLC now owns 732,603 shares of the company’s stock valued at $67,949,000 after purchasing an additional 250,110 shares during the last quarter. 73.15% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at CAVA Group

In other CAVA Group news, CFO Tricia K. Tolivar sold 5,000 shares of the company’s stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $125.64, for a total value of $628,200.00. Following the sale, the chief financial officer now owns 292,600 shares in the company, valued at approximately $36,762,264. The trade was a 1.68 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Theodoros Xenohristos sold 98,490 shares of the company’s stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $125.77, for a total value of $12,387,087.30. Following the completion of the sale, the director now owns 424,846 shares in the company, valued at $53,432,881.42. The trade was a 18.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 304,994 shares of company stock worth $38,310,084. Insiders own 12.10% of the company’s stock.

CAVA Group Stock Performance

Shares of CAVA opened at $138.29 on Friday. CAVA Group, Inc. has a 52-week low of $31.47 and a 52-week high of $172.43. The firm has a market cap of $15.81 billion, a price-to-earnings ratio of 300.63 and a beta of 3.23. The business’s fifty day moving average is $130.75 and its 200-day moving average is $103.50.

CAVA Group (NYSE:CAVA) last announced its quarterly earnings results on Tuesday, November 12th. The company reported $0.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.11 by $0.04. The company had revenue of $243.82 million for the quarter, compared to analyst estimates of $233.05 million. CAVA Group had a net margin of 5.88% and a return on equity of 9.23%. The firm’s revenue was up 38.9% on a year-over-year basis. During the same period in the previous year, the firm posted $0.06 EPS. As a group, research analysts forecast that CAVA Group, Inc. will post 0.46 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on CAVA. Stifel Nicolaus raised their target price on shares of CAVA Group from $118.00 to $175.00 and gave the stock a “buy” rating in a research note on Wednesday. Argus boosted their price objective on CAVA Group from $104.00 to $128.00 and gave the stock a “buy” rating in a report on Wednesday, September 11th. Citigroup lifted their price target on CAVA Group from $140.00 to $163.00 and gave the stock a “neutral” rating in a report on Wednesday. Robert W. Baird upped their price objective on CAVA Group from $125.00 to $148.00 and gave the company an “outperform” rating in a report on Monday, November 4th. Finally, Wedbush lifted their target price on CAVA Group from $155.00 to $190.00 and gave the stock an “outperform” rating in a report on Wednesday. Eight investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $140.14.

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.