Fmr LLC Grows Stock Holdings in CAVA Group, Inc. (NYSE:CAVA)

Fmr LLC grew its position in shares of CAVA Group, Inc. (NYSE:CAVA) by 0.9% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,485,033 shares of the company’s stock after purchasing an additional 29,668 shares during the quarter. Fmr LLC’s holdings in CAVA Group were worth $431,621,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of CAVA. Nwam LLC grew its position in CAVA Group by 2.6% during the third quarter. Nwam LLC now owns 3,368 shares of the company’s stock valued at $417,000 after acquiring an additional 85 shares during the last quarter. CIBC Asset Management Inc grew its holdings in shares of CAVA Group by 3.5% during the 3rd quarter. CIBC Asset Management Inc now owns 3,287 shares of the company’s stock valued at $407,000 after purchasing an additional 110 shares during the last quarter. Farther Finance Advisors LLC raised its position in CAVA Group by 6.3% in the 3rd quarter. Farther Finance Advisors LLC now owns 1,916 shares of the company’s stock worth $237,000 after purchasing an additional 113 shares during the period. GAMMA Investing LLC raised its position in CAVA Group by 68.3% in the 3rd quarter. GAMMA Investing LLC now owns 308 shares of the company’s stock worth $38,000 after purchasing an additional 125 shares during the period. Finally, Dimensional Fund Advisors LP lifted its stake in CAVA Group by 0.5% in the second quarter. Dimensional Fund Advisors LP now owns 39,154 shares of the company’s stock worth $3,632,000 after purchasing an additional 184 shares during the last quarter. 73.15% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, Director Karen Kochevar sold 15,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $142.23, for a total transaction of $2,133,450.00. Following the completion of the sale, the director now directly owns 1,307 shares in the company, valued at approximately $185,894.61. The trade was a 91.99 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 12.10% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

CAVA has been the topic of a number of recent research reports. 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. Sanford C. Bernstein initiated coverage on CAVA Group in a research report on Wednesday, November 20th. They set a “market perform” rating and a $145.00 price target on the stock. Wedbush boosted their price objective on CAVA Group from $155.00 to $190.00 and gave the company an “outperform” rating in a research report on Wednesday, November 13th. TD Securities raised their target price on shares of CAVA Group from $115.00 to $130.00 and gave the stock a “buy” rating in a report on Tuesday, September 24th. Finally, TD Cowen lifted their target price on shares of CAVA Group from $130.00 to $150.00 and gave the stock a “buy” rating in a research note on Wednesday, November 13th. Eight equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, CAVA Group has an average rating of “Moderate Buy” and an average target price of $143.80.

CAVA Group Price Performance

NYSE:CAVA opened at $140.94 on Friday. The firm’s 50-day moving average price is $135.37 and its 200-day moving average price is $108.99. The company has a market capitalization of $16.15 billion, a PE ratio of 306.39 and a beta of 3.23. CAVA Group, Inc. has a 1-year low of $31.47 and a 1-year high of $172.43.

CAVA Group (NYSE:CAVA) last issued its quarterly earnings results on Tuesday, November 12th. The company reported $0.15 earnings per share for the quarter, beating the consensus estimate of $0.11 by $0.04. The firm had revenue of $243.82 million during the quarter, compared to the consensus estimate 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 was up 38.9% on a year-over-year basis. During the same period last year, the company earned $0.06 earnings per share. Equities analysts anticipate that CAVA Group, Inc. will post 0.5 EPS for the current fiscal year.

CAVA Group 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.