CAVA Group, Inc. (NYSE:CAVA) Shares Bought by Intech Investment Management LLC

Intech Investment Management LLC lifted its position in shares of CAVA Group, Inc. (NYSE:CAVA) by 20.4% during the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 22,439 shares of the company’s stock after purchasing an additional 3,807 shares during the period. Intech Investment Management LLC’s holdings in CAVA Group were worth $2,779,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Vanguard Group Inc. increased its position in CAVA Group by 215.7% during the first quarter. Vanguard Group Inc. now owns 4,944,036 shares of the company’s stock worth $346,330,000 after buying an additional 3,377,840 shares during the period. Renaissance Technologies LLC grew its position in shares of 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 acquiring an additional 451,800 shares during the last quarter. Driehaus Capital Management LLC increased its holdings in shares of CAVA Group by 51.8% in the 2nd quarter. Driehaus Capital Management LLC now owns 732,603 shares of the company’s stock valued at $67,949,000 after acquiring an additional 250,110 shares during the period. Marshall Wace LLP raised its position in CAVA Group by 130.5% in the 2nd quarter. Marshall Wace LLP now owns 420,577 shares of the company’s stock valued at $39,009,000 after purchasing an additional 238,087 shares during the last quarter. Finally, ING Groep NV acquired a new stake in CAVA Group during the 3rd quarter worth $17,748,000. 73.15% of the stock is owned by hedge funds and other institutional investors.

CAVA Group Trading Up 0.1 %

CAVA stock opened at $145.00 on Friday. The firm has a 50 day moving average of $133.66 and a 200-day moving average of $106.69. The company has a market cap of $16.61 billion, a price-to-earnings ratio of 315.22 and a beta of 3.23. CAVA Group, Inc. has a 12-month low of $31.47 and a 12-month high of $172.43.

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

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the stock. Piper Sandler upped their target price on shares of CAVA Group from $100.00 to $142.00 and gave the company a “neutral” rating in a report on Friday, November 15th. Loop Capital increased their price objective on CAVA Group from $122.00 to $147.00 and gave the stock a “hold” rating in a research report on Thursday, November 14th. Argus boosted their target price on CAVA Group from $104.00 to $128.00 and gave the company a “buy” rating in a report on Wednesday, September 11th. UBS Group started coverage on CAVA Group in a report on Friday, September 27th. They set a “neutral” rating and a $135.00 price target for the company. Finally, JPMorgan Chase & Co. boosted their price objective on shares of CAVA Group from $90.00 to $110.00 and gave the company a “neutral” rating in a research note on Wednesday, November 13th. Eight investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $143.80.

Insider Activity at CAVA Group

In related news, Director Karen Kochevar sold 15,000 shares of the company’s stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $142.23, for a total value of $2,133,450.00. Following the sale, the director now owns 1,307 shares of the company’s stock, valued at approximately $185,894.61. This represents a 91.99 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Tricia K. Tolivar sold 5,000 shares of the firm’s stock in a transaction on Monday, August 26th. The stock was sold at an average price of $125.64, for a total value of $628,200.00. Following the transaction, the chief financial officer now directly owns 292,600 shares of the company’s stock, valued at $36,762,264. The trade was a 1.68 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 334,994 shares of company stock valued at $42,543,534. Insiders own 12.10% of the company’s stock.

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.