Ameritas Advisory Services LLC Takes Position in CAVA Group, Inc. (NYSE:CAVA)

Ameritas Advisory Services LLC purchased a new stake in CAVA Group, Inc. (NYSE:CAVA) in the 4th quarter, Holdings Channel reports. The firm purchased 35,332 shares of the company’s stock, valued at approximately $3,985,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. FMR LLC grew its holdings in shares of CAVA Group by 0.9% in the 3rd quarter. FMR LLC now owns 3,485,033 shares of the company’s stock valued at $431,621,000 after buying an additional 29,668 shares during the period. Two Sigma Advisers LP boosted its stake in CAVA Group by 17.0% in the 3rd quarter. Two Sigma Advisers LP now owns 2,210,900 shares of the company’s stock worth $273,820,000 after purchasing an additional 321,800 shares during the period. Lord Abbett & CO. LLC boosted its stake in CAVA Group by 1.5% in the 3rd quarter. Lord Abbett & CO. LLC now owns 1,358,250 shares of the company’s stock worth $168,219,000 after purchasing an additional 19,493 shares during the period. State Street Corp boosted its stake in CAVA Group by 33.3% in the 3rd quarter. State Street Corp now owns 1,267,333 shares of the company’s stock worth $156,959,000 after purchasing an additional 316,514 shares during the period. Finally, Geode Capital Management LLC boosted its stake in CAVA Group by 121.0% in the 3rd quarter. Geode Capital Management LLC now owns 1,222,834 shares of the company’s stock worth $151,492,000 after purchasing an additional 669,599 shares during the period. Institutional investors and hedge funds own 73.15% of the company’s stock.

Insider Buying and Selling at CAVA Group

In other CAVA Group news, Director Ronald M. Shaich sold 622,549 shares of the stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $149.40, for a total transaction of $93,008,820.60. Following the transaction, the director now owns 6,307 shares in the company, valued at $942,265.80. This represents a 99.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Karen Kochevar sold 15,000 shares of the stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $142.23, for a total transaction of $2,133,450.00. Following the transaction, the director now owns 1,307 shares in the company, valued at approximately $185,894.61. The trade was a 91.99 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 652,549 shares of company stock valued at $97,242,271 in the last three months. 12.10% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on CAVA shares. JPMorgan Chase & Co. upped their target price on shares of CAVA Group from $90.00 to $110.00 and gave the stock a “neutral” rating in a research note on Wednesday, November 13th. Wedbush upped their target price on shares of CAVA Group from $155.00 to $190.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 13th. UBS Group cut their price target on shares of CAVA Group from $160.00 to $125.00 and set a “neutral” rating on the stock in a research report on Tuesday, January 7th. Piper Sandler boosted their price target on shares of CAVA Group from $100.00 to $142.00 and gave the stock a “neutral” rating in a research report on Friday, November 15th. Finally, Morgan Stanley boosted their price target on shares of CAVA Group from $123.00 to $135.00 and gave the stock an “equal weight” rating in a research report on Thursday, November 14th. Eight investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, CAVA Group currently has an average rating of “Moderate Buy” and an average price target of $142.13.

CAVA Group Stock Up 0.6 %

CAVA Group stock opened at $118.21 on Monday. The stock has a market cap of $13.54 billion, a P/E ratio of 256.98 and a beta of 3.21. CAVA Group, Inc. has a twelve month low of $43.51 and a twelve month high of $172.43. The company’s 50-day moving average price is $128.22 and its two-hundred day moving average price is $117.71.

CAVA Group (NYSE:CAVA) last released 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 for the quarter, compared to analysts’ expectations of $233.05 million. CAVA Group had a net margin of 5.88% and a return on equity of 9.10%. The business’s revenue was up 38.9% on a year-over-year basis. During the same period in the prior year, the firm earned $0.06 EPS. Equities analysts anticipate that CAVA Group, Inc. will post 0.5 earnings per share 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.