Vanguard Group Inc. Raises Stock Holdings in CAVA Group, Inc. (NYSE:CAVA)

Vanguard Group Inc. boosted its holdings in shares of CAVA Group, Inc. (NYSE:CAVA) by 15.5% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,460,824 shares of the company’s stock after acquiring an additional 196,019 shares during the quarter. Vanguard Group Inc. owned 1.29% of CAVA Group worth $44,745,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Headlands Technologies LLC purchased a new stake in shares of CAVA Group during the third quarter valued at $26,000. PNC Financial Services Group Inc. boosted its position in CAVA Group by 190.0% in the 3rd quarter. PNC Financial Services Group Inc. now owns 870 shares of the company’s stock valued at $27,000 after buying an additional 570 shares during the period. Clearstead Advisors LLC bought a new position in CAVA Group in the 3rd quarter worth about $31,000. Osaic Holdings Inc. purchased a new position in shares of CAVA Group during the second quarter worth approximately $74,000. Finally, Hollencrest Capital Management bought a new stake in shares of CAVA Group during the third quarter valued at approximately $75,000. Institutional investors own 73.15% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on CAVA shares. JPMorgan Chase & Co. lifted their target price on CAVA Group from $50.00 to $64.00 and gave the company an “overweight” rating in a research report on Tuesday, March 19th. Wedbush reaffirmed an “outperform” rating and issued a $65.00 price objective (up from $59.00) on shares of CAVA Group in a research note on Tuesday, February 27th. Morgan Stanley raised their target price on shares of CAVA Group from $49.00 to $62.00 and gave the company an “overweight” rating in a research report on Wednesday, February 28th. William Blair reaffirmed an “outperform” rating on shares of CAVA Group in a research report on Tuesday, February 27th. Finally, Robert W. Baird lifted their price objective on shares of CAVA Group from $54.00 to $62.00 and gave the company an “outperform” rating in a report on Thursday, February 15th. Four research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $56.50.

Insider Buying and Selling at CAVA Group

In other news, major shareholder Ronald M. Shaich sold 1,500,000 shares of the business’s stock in a transaction on Monday, March 4th. The shares were sold at an average price of $57.20, for a total transaction of $85,800,000.00. Following the sale, the insider now directly owns 4,457,634 shares of the company’s stock, valued at $254,976,664.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, major shareholder Ronald M. Shaich sold 1,500,000 shares of the firm’s stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $57.20, for a total value of $85,800,000.00. Following the completion of the transaction, the insider now directly owns 4,457,634 shares in the company, valued at $254,976,664.80. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Theodoros Xenohristos sold 47,239 shares of the company’s stock in a transaction that occurred on Tuesday, March 26th. The shares were sold at an average price of $68.29, for a total value of $3,225,951.31. Following the completion of the sale, the director now owns 526,521 shares in the company, valued at approximately $35,956,119.09. The disclosure for this sale can be found here. In the last quarter, insiders have sold 3,547,239 shares of company stock worth $221,525,951.

CAVA Group Stock Down 7.2 %

Shares of NYSE:CAVA opened at $60.28 on Wednesday. The business’s 50-day moving average is $59.28 and its 200 day moving average is $44.82. CAVA Group, Inc. has a 1 year low of $29.05 and a 1 year high of $71.60.

CAVA Group (NYSE:CAVA) last posted its quarterly earnings data on Monday, February 26th. The company reported $0.02 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.01 by $0.01. The firm had revenue of $175.50 million for the quarter, compared to the consensus estimate of $240.03 million. CAVA Group had a net margin of 1.82% and a return on equity of 4.28%. The business’s revenue for the quarter was up 52.6% on a year-over-year basis. On average, equities research analysts predict that CAVA Group, Inc. will post 0.24 EPS for the current year.

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.