Commonwealth Equity Services LLC Purchases 586 Shares of CAVA Group, Inc. (NYSE:CAVA)

Commonwealth Equity Services LLC grew its position in shares of CAVA Group, Inc. (NYSE:CAVA) by 1.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 45,288 shares of the company’s stock after acquiring an additional 586 shares during the period. Commonwealth Equity Services LLC’s holdings in CAVA Group were worth $5,109,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the business. FMR LLC lifted its holdings in CAVA Group by 0.9% in the 3rd quarter. FMR LLC now owns 3,485,033 shares of the company’s stock worth $431,621,000 after buying an additional 29,668 shares during the period. Jennison Associates LLC boosted its holdings in 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 acquiring an additional 2,455,035 shares in the last quarter. Two Sigma Advisers LP raised its holdings 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 in the last quarter. Lord Abbett & CO. LLC lifted its position in shares of 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. Finally, State Street Corp increased its position in shares of CAVA Group by 33.3% during the third quarter. State Street Corp now owns 1,267,333 shares of the company’s stock valued at $156,959,000 after buying an additional 316,514 shares during the period. 73.15% of the stock is owned by institutional investors.

CAVA Group Trading Down 1.3 %

CAVA Group stock opened at $83.59 on Friday. The firm has a market cap of $9.66 billion, a price-to-earnings ratio of 181.71 and a beta of 3.58. CAVA Group, Inc. has a 12 month low of $58.22 and a 12 month high of $172.43. The stock has a fifty day simple moving average of $110.68 and a two-hundred day simple moving average of $122.96.

CAVA Group (NYSE:CAVA) last released 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). The firm had revenue of $227.40 million during the quarter, compared to analysts’ expectations of $223.34 million. CAVA Group had a return on equity of 9.10% and a net margin of 5.88%. On average, equities research analysts forecast that CAVA Group, Inc. will post 0.5 EPS for the current fiscal year.

Insider Transactions at CAVA Group

In other news, insider Kenneth Robert Bertram sold 678 shares of CAVA Group 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 sale, the insider now directly owns 57,312 shares of the company’s stock, valued at approximately $7,129,039.68. The trade was a 1.17 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Tricia K. Tolivar sold 2,086 shares of CAVA Group stock in a transaction dated Tuesday, January 21st. The stock was sold at an average price of $119.18, for a total value of $248,609.48. Following the completion of the sale, the chief financial officer now directly owns 235,592 shares in the company, valued at $28,077,854.56. This trade represents a 0.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 29,235 shares of company stock worth $3,514,101 in the last ninety days. Insiders own 12.10% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on CAVA. Barclays reduced their target price on CAVA Group from $127.00 to $104.00 and set an “equal weight” rating on the stock in a report on Wednesday, February 26th. JPMorgan Chase & Co. upgraded CAVA Group from a “neutral” rating to an “overweight” rating and set a $110.00 target price on the stock in a report on Thursday. William Blair restated an “outperform” rating on shares of CAVA Group in a research note on Wednesday, February 26th. Piper Sandler raised CAVA Group from a “neutral” rating to an “overweight” rating and reduced their price objective for the company from $142.00 to $115.00 in a research report on Friday, February 28th. Finally, Loop Capital reduced their price objective on CAVA Group from $147.00 to $100.00 and set a “hold” rating for the company in a research report on Thursday, February 27th. Six equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat.com, CAVA Group presently has an average rating of “Moderate Buy” and an average target price of $131.47.

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.