State of New Jersey Common Pension Fund D Has $3.37 Million Position in CAVA Group, Inc. (NYSE:CAVA)

State of New Jersey Common Pension Fund D increased its stake in shares of CAVA Group, Inc. (NYSE:CAVA) by 36.8% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 29,897 shares of the company’s stock after purchasing an additional 8,035 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in CAVA Group were worth $3,372,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Allworth Financial LP increased its holdings in shares of CAVA Group by 369.2% during the fourth quarter. Allworth Financial LP now owns 244 shares of the company’s stock worth $30,000 after buying an additional 192 shares in the last quarter. Sunbelt Securities Inc. acquired a new stake in CAVA Group in the third quarter valued at $50,000. Golden State Wealth Management LLC bought a new position in shares of CAVA Group during the fourth quarter worth about $47,000. GAMMA Investing LLC raised its holdings in CAVA Group by 37.0% during the 4th quarter. GAMMA Investing LLC now owns 422 shares of the company’s stock worth $48,000 after purchasing an additional 114 shares during the last quarter. Finally, R Squared Ltd bought a new position in CAVA Group during the fourth quarter worth $49,000. Institutional investors own 73.15% of the company’s stock.

CAVA Group Price Performance

Shares of NYSE CAVA opened at $119.34 on Thursday. The company has a 50-day moving average price of $123.51 and a 200-day moving average price of $125.01. The stock has a market capitalization of $13.67 billion, a P/E ratio of 259.43 and a beta of 3.25. CAVA Group, Inc. has a 1 year low of $48.10 and a 1 year high of $172.43.

Wall Street Analyst Weigh In

A number of analysts have weighed in on CAVA shares. Morgan Stanley increased their price target on CAVA Group from $123.00 to $135.00 and gave the stock an “equal weight” rating in a report on Thursday, November 14th. Citigroup raised their target price on CAVA Group from $140.00 to $163.00 and gave the stock a “neutral” rating in a research note on Wednesday, November 13th. William Blair reissued an “outperform” rating on shares of CAVA Group in a research note on Wednesday, November 13th. JPMorgan Chase & Co. increased their price target on CAVA Group from $90.00 to $110.00 and gave the stock a “neutral” rating in a report on Wednesday, November 13th. Finally, Piper Sandler lifted their price objective on shares of CAVA Group from $100.00 to $142.00 and gave the company a “neutral” rating in a research note on Friday, November 15th. Eight analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, CAVA Group has an average rating of “Moderate Buy” and an average target price of $142.13.

Insider Activity at CAVA Group

In related news, Director Ronald M. Shaich sold 622,549 shares of the stock in a transaction on Monday, December 9th. The stock was sold at an average price of $149.40, for a total value of $93,008,820.60. Following the completion of the sale, the director now directly owns 6,307 shares of the company’s stock, valued at approximately $942,265.80. This represents a 99.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CAO Adam David Phillips sold 615 shares of CAVA Group 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 transaction, the chief accounting officer now directly owns 10,884 shares in the company, valued at $1,353,860.76. This represents a 5.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 651,784 shares of company stock valued at $96,522,922. 12.10% of the stock is owned by corporate insiders.

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.