Federated Hermes Inc. Increases Stake in CAVA Group, Inc. (NYSE:CAVA)

Federated Hermes Inc. raised its holdings in shares of CAVA Group, Inc. (NYSE:CAVA) by 33.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,464,987 shares of the company’s stock after buying an additional 363,814 shares during the quarter. Federated Hermes Inc. owned about 1.28% of CAVA Group worth $165,243,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Vanguard Group Inc. grew its holdings in CAVA Group by 20.4% in the 4th quarter. Vanguard Group Inc. now owns 8,011,602 shares of the company’s stock valued at $903,709,000 after buying an additional 1,357,187 shares in the last quarter. Jennison Associates LLC grew its holdings in shares of CAVA Group by 36,658.7% in the fourth quarter. Jennison Associates LLC now owns 2,461,732 shares of the company’s stock valued at $277,683,000 after purchasing an additional 2,455,035 shares during the period. Lord Abbett & CO. LLC increased its position in CAVA Group by 1.5% during the third 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 last quarter. State Street Corp raised its stake in CAVA Group by 33.3% during the third 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, Arrowstreet Capital Limited Partnership boosted its holdings in CAVA Group by 62.8% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 1,246,209 shares of the company’s stock valued at $140,572,000 after purchasing an additional 480,900 shares during the last quarter. 73.15% of the stock is currently owned by institutional investors and hedge funds.

CAVA Group Trading Down 10.5 %

Shares of NYSE CAVA opened at $75.30 on Friday. The stock has a market cap of $8.70 billion, a P/E ratio of 163.70 and a beta of 3.33. The business’s fifty day simple moving average is $104.28 and its 200-day simple moving average is $120.60. CAVA Group, Inc. has a 12-month low of $58.22 and a 12-month high of $172.43.

CAVA Group (NYSE:CAVA) last posted its quarterly earnings results on Tuesday, February 25th. The company reported $0.05 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.01). CAVA Group had a net margin of 5.88% and a return on equity of 9.10%. The company had revenue of $227.40 million during the quarter, compared to analyst estimates of $223.34 million. On average, equities analysts forecast that CAVA Group, Inc. will post 0.5 EPS for the current fiscal year.

Insider Buying and Selling

In other CAVA Group news, insider Theodoros Xenohristos sold 851 shares of the firm’s stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $119.18, for a total value of $101,422.18. Following the sale, the insider now directly owns 358,995 shares in the company, valued at $42,785,024.10. This trade represents a 0.24 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Kenneth Robert Bertram sold 678 shares of the company’s stock in a transaction dated Monday, January 27th. The stock was sold at an average price of $124.39, for a total value of $84,336.42. Following the transaction, the insider now directly owns 57,312 shares of the company’s stock, valued at approximately $7,129,039.68. This represents a 1.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 29,235 shares of company stock worth $3,514,101 over the last 90 days. 12.10% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

CAVA has been the topic of several analyst reports. JPMorgan Chase & Co. raised shares of CAVA Group from a “neutral” rating to an “overweight” rating and set a $110.00 price target on the stock in a research report on Thursday, March 20th. UBS Group reduced their target price on CAVA Group from $160.00 to $125.00 and set a “neutral” rating on the stock in a research report on Tuesday, January 7th. William Blair reiterated an “outperform” rating on shares of CAVA Group in a report on Wednesday, February 26th. Bank of America assumed coverage on shares of CAVA Group in a report on Monday, March 31st. They issued a “buy” rating and a $112.00 price objective on the stock. Finally, Citigroup lowered their target price on shares of CAVA Group from $163.00 to $140.00 and set a “neutral” rating for the company in a research note on Friday, February 21st. Six research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $130.25.

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.