Prudential Financial Inc. Has $27.19 Million Holdings in CAVA Group, Inc. (NYSE:CAVA)

Prudential Financial Inc. boosted its position in shares of CAVA Group, Inc. (NYSE:CAVA) by 149.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 241,050 shares of the company’s stock after acquiring an additional 144,278 shares during the period. Prudential Financial Inc.’s holdings in CAVA Group were worth $27,190,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of CAVA. Natixis Advisors LLC bought a new position in shares of CAVA Group in the third quarter worth about $1,360,000. Charles Schwab Investment Management Inc. increased its position in CAVA Group by 262.8% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 516,092 shares of the company’s stock worth $63,918,000 after buying an additional 373,835 shares during the period. Cerity Partners LLC acquired a new position in shares of CAVA Group during the third quarter worth approximately $1,425,000. Algert Global LLC lifted its holdings in shares of CAVA Group by 239.8% during the third quarter. Algert Global LLC now owns 15,610 shares of the company’s stock worth $1,933,000 after buying an additional 11,016 shares during the last quarter. Finally, Dynamic Technology Lab Private Ltd acquired a new stake in shares of CAVA Group in the third quarter worth $479,000. 73.15% of the stock is currently owned by institutional investors.

Insider Activity

In other CAVA Group news, CFO Tricia K. Tolivar sold 2,086 shares of the stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $119.18, for a total value of $248,609.48. Following the transaction, the chief financial officer now directly owns 235,592 shares in the company, valued at approximately $28,077,854.56. This trade represents a 0.88 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Brett Schulman sold 20,564 shares of the business’s stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $119.18, for a total value of $2,450,817.52. Following the sale, the chief executive officer now owns 776,369 shares of the company’s stock, valued at approximately $92,527,657.42. The trade was a 2.58 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 29,235 shares of company stock worth $3,514,101. 12.10% of the stock is owned by corporate insiders.

CAVA Group Stock Down 4.0 %

NYSE:CAVA opened at $86.69 on Thursday. The firm has a market cap of $10.02 billion, a PE ratio of 188.46 and a beta of 3.58. CAVA Group, Inc. has a 12 month low of $58.22 and a 12 month high of $172.43. The company’s 50-day moving average price is $109.26 and its two-hundred day moving average price is $122.40.

CAVA Group (NYSE:CAVA) last released 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). CAVA Group had a return on equity of 9.10% and a net margin of 5.88%. The business had revenue of $227.40 million for the quarter, compared to the consensus estimate of $223.34 million. On average, research analysts expect that CAVA Group, Inc. will post 0.5 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

CAVA has been the subject of several research analyst reports. Piper Sandler upgraded shares of CAVA Group from a “neutral” rating to an “overweight” rating and cut their target price for the company from $142.00 to $115.00 in a research note on Friday, February 28th. TD Securities decreased their target price on CAVA Group from $150.00 to $130.00 and set a “buy” rating on the stock in a research report on Wednesday, February 26th. Citigroup cut their price target on CAVA Group from $163.00 to $140.00 and set a “neutral” rating for the company in a report on Friday, February 21st. William Blair reissued an “outperform” rating on shares of CAVA Group in a report on Wednesday, February 26th. Finally, JPMorgan Chase & Co. upgraded CAVA Group from a “neutral” rating to an “overweight” rating and set a $110.00 target price for the company in a research note on Thursday, March 20th. Six research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat, CAVA Group has an average rating of “Moderate Buy” and a consensus price target of $131.47.

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.