Jacobs Levy Equity Management Inc. Has $2.39 Million Stake in CAVA Group, Inc. (NYSE:CAVA)

Jacobs Levy Equity Management Inc. trimmed its position in shares of CAVA Group, Inc. (NYSE:CAVA) by 6.5% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 19,333 shares of the company’s stock after selling 1,345 shares during the period. Jacobs Levy Equity Management Inc.’s holdings in CAVA Group were worth $2,394,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Janus Henderson Group PLC boosted its position in CAVA Group by 21.4% during the third quarter. Janus Henderson Group PLC now owns 25,500 shares of the company’s stock worth $3,157,000 after purchasing an additional 4,500 shares during the period. Concentric Capital Strategies LP acquired a new position in CAVA Group in the third quarter valued at about $703,000. Tradition Wealth Management LLC acquired a new position in CAVA Group in the third quarter valued at about $250,000. Fred Alger Management LLC raised its stake in CAVA Group by 14.7% during the third quarter. Fred Alger Management LLC now owns 54,929 shares of the company’s stock worth $6,803,000 after acquiring an additional 7,025 shares in the last quarter. Finally, Captrust Financial Advisors raised its stake in CAVA Group by 17.6% during the third quarter. Captrust Financial Advisors now owns 9,173 shares of the company’s stock worth $1,136,000 after acquiring an additional 1,372 shares in the last quarter. 73.15% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, Director Karen Kochevar sold 15,000 shares of the stock in a transaction on Friday, November 15th. The stock was sold at an average price of $140.00, for a total value of $2,100,000.00. Following the transaction, the director now directly owns 1,307 shares in the company, valued at $182,980. This trade represents a 91.99 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 12.10% of the stock is owned by company insiders.

CAVA Group Stock Performance

CAVA Group stock opened at $150.88 on Friday. The stock has a market capitalization of $17.29 billion, a price-to-earnings ratio of 328.00 and a beta of 2.93. CAVA Group, Inc. has a 52-week low of $31.47 and a 52-week high of $172.43. The stock’s 50 day moving average price is $137.34 and its two-hundred day moving average price is $111.57.

CAVA Group (NYSE:CAVA) last posted its quarterly earnings results on Tuesday, November 12th. The company reported $0.15 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.11 by $0.04. The firm had revenue of $243.82 million for the quarter, compared to analysts’ expectations of $233.05 million. CAVA Group had a return on equity of 9.10% and a net margin of 5.88%. The company’s revenue for the quarter was up 38.9% compared to the same quarter last year. During the same period in the prior year, the business earned $0.06 EPS. On average, equities research analysts forecast that CAVA Group, Inc. will post 0.5 EPS for the current year.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the company. Argus upped their price objective on CAVA Group from $104.00 to $128.00 and gave the company a “buy” rating in a research note on Wednesday, September 11th. Wedbush upped their price objective on CAVA Group from $155.00 to $190.00 and gave the company an “outperform” rating in a research note on Wednesday, November 13th. TD Cowen upped their price objective on CAVA Group from $130.00 to $150.00 and gave the company a “buy” rating in a research note on Wednesday, November 13th. TD Securities upped their target price on CAVA Group from $115.00 to $130.00 and gave the company a “buy” rating in a report on Tuesday, September 24th. Finally, Barclays upped their target price on CAVA Group from $113.00 to $142.00 and gave the company an “equal weight” rating in a report on Wednesday, November 13th. Eight research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $143.80.

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.