Eagle Asset Management Inc. Increases Stake in CAVA Group, Inc. (NYSE:CAVA)

Eagle Asset Management Inc. lifted its stake in CAVA Group, Inc. (NYSE:CAVA) by 233.4% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 398,991 shares of the company’s stock after purchasing an additional 279,306 shares during the quarter. Eagle Asset Management Inc.’s holdings in CAVA Group were worth $49,415,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Jamison Private Wealth Management Inc. purchased a new position in CAVA Group during the 2nd quarter worth approximately $28,000. Nemes Rush Group LLC purchased a new position in shares of CAVA Group during the 2nd quarter valued at approximately $28,000. Mark Sheptoff Financial Planning LLC purchased a new position in shares of CAVA Group during the 2nd quarter valued at approximately $36,000. Headlands Technologies LLC purchased a new position in shares of CAVA Group during the 2nd quarter valued at approximately $37,000. Finally, GAMMA Investing LLC increased its holdings in shares of CAVA Group by 68.3% during the 3rd quarter. GAMMA Investing LLC now owns 308 shares of the company’s stock valued at $38,000 after purchasing an additional 125 shares in the last quarter. 73.15% of the stock is owned by hedge funds and other institutional investors.

CAVA Group Trading Up 0.0 %

Shares of CAVA opened at $144.83 on Friday. The firm has a market cap of $16.59 billion, a P/E ratio of 314.85 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. The company’s 50-day moving average price is $133.21 and its 200 day moving average price is $106.20.

CAVA Group (NYSE:CAVA) last issued its quarterly earnings data on Tuesday, November 12th. The company reported $0.15 earnings per share (EPS) 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 analyst estimates of $233.05 million. CAVA Group had a net margin of 5.88% and a return on equity of 9.10%. CAVA Group’s revenue was up 38.9% on a year-over-year basis. During the same period in the previous year, the firm earned $0.06 EPS. Equities research analysts forecast that CAVA Group, Inc. will post 0.5 earnings per share for the current year.

Analyst Upgrades and Downgrades

CAVA has been the subject of several recent research reports. Argus lifted their target price on shares of CAVA Group from $104.00 to $128.00 and gave the company a “buy” rating in a report on Wednesday, September 11th. Stifel Nicolaus lifted their price target on shares of CAVA Group from $118.00 to $175.00 and gave the company a “buy” rating in a research note on Wednesday, November 13th. TD Securities lifted their target price on shares of CAVA Group from $115.00 to $130.00 and gave the stock a “buy” rating in a research note on Tuesday, September 24th. Wedbush lifted 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. Finally, Citigroup lifted their target price on shares of CAVA Group from $140.00 to $163.00 and gave the stock 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 given a buy rating to the company’s stock. According to data from MarketBeat.com, CAVA Group currently has an average rating of “Moderate Buy” and a consensus price target of $143.80.

Insider Activity at CAVA Group

In other CAVA Group news, Director Theodoros Xenohristos sold 98,490 shares of the business’s stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $125.77, for a total transaction of $12,387,087.30. Following the sale, the director now directly owns 424,846 shares in the company, valued at $53,432,881.42. This represents a 18.82 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Tricia K. Tolivar sold 5,000 shares of the business’s stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $125.64, for a total transaction of $628,200.00. Following the sale, the chief financial officer now owns 292,600 shares in the company, valued at $36,762,264. This trade represents a 1.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 334,994 shares of company stock worth $42,543,534. Company insiders own 12.10% of the company’s stock.

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.