Vanguard Group Inc. Has $903.71 Million Position in CAVA Group, Inc. (NYSE:CAVA)

Vanguard Group Inc. lifted its holdings in shares of CAVA Group, Inc. (NYSE:CAVA) by 20.4% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 8,011,602 shares of the company’s stock after purchasing an additional 1,357,187 shares during the period. Vanguard Group Inc. owned 0.07% of CAVA Group worth $903,709,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in CAVA. Charles Schwab Investment Management Inc. grew its holdings in CAVA Group by 262.8% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 516,092 shares of the company’s stock worth $63,918,000 after acquiring an additional 373,835 shares during the last quarter. Cerity Partners LLC bought a new stake in shares of CAVA Group during the third quarter valued at approximately $1,425,000. Dynamic Technology Lab Private Ltd acquired a new stake in shares of CAVA Group in the third quarter valued at approximately $479,000. The Manufacturers Life Insurance Company raised its position in CAVA Group by 5.5% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 22,162 shares of the company’s stock worth $2,745,000 after purchasing an additional 1,155 shares during the last quarter. Finally, FMR LLC lifted its holdings in CAVA Group by 0.9% during the 3rd quarter. FMR LLC now owns 3,485,033 shares of the company’s stock worth $431,621,000 after buying an additional 29,668 shares in the last quarter. 73.15% of the stock is currently owned by institutional investors and hedge funds.

CAVA Group Stock Performance

NYSE CAVA opened at $85.75 on Friday. The stock has a market cap of $9.91 billion, a price-to-earnings ratio of 186.41 and a beta of 3.58. The business has a 50 day simple moving average of $108.04 and a 200 day simple moving average of $121.93. CAVA Group, Inc. has a 52-week low of $58.22 and a 52-week high of $172.43.

CAVA Group (NYSE:CAVA) last issued its quarterly earnings data on Tuesday, February 25th. The company reported $0.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.06 by ($0.01). The company 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, analysts predict that CAVA Group, Inc. will post 0.5 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on CAVA. Barclays dropped their target price on CAVA Group from $127.00 to $104.00 and set an “equal weight” rating for the company in a research report on Wednesday, February 26th. William Blair restated an “outperform” rating on shares of CAVA Group in a research report on Wednesday, February 26th. TD Securities lowered 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 report on Wednesday, February 26th. Piper Sandler upgraded shares of CAVA Group from a “neutral” rating to an “overweight” rating and cut their price objective for the company from $142.00 to $115.00 in a report on Friday, February 28th. Finally, Wedbush reiterated an “outperform” rating and set a $150.00 target price on shares of CAVA Group in a research report on Wednesday, February 26th. Six research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $131.47.

Insider Buying and Selling at CAVA Group

In other news, CFO Tricia K. Tolivar sold 2,086 shares of the firm’s stock in a transaction that occurred on Tuesday, January 21st. The shares were sold at an average price of $119.18, for a total transaction of $248,609.48. Following the completion of the transaction, the chief financial officer now directly owns 235,592 shares of the company’s stock, valued at $28,077,854.56. This trade represents a 0.88 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Adam David Phillips sold 615 shares of the business’s stock in a transaction on Monday, January 27th. The stock was sold at an average price of $124.39, for a total transaction of $76,499.85. Following the completion of the sale, the chief accounting officer now directly owns 10,884 shares in the company, valued at approximately $1,353,860.76. This represents a 5.35 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 29,235 shares of company stock valued at $3,514,101 in the last 90 days. 12.10% of the stock is currently owned by company insiders.

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.