Charles Schwab Investment Management Inc. Raises Stock Position in CAVA Group, Inc. (NYSE:CAVA)

Charles Schwab Investment Management Inc. grew its holdings in CAVA Group, Inc. (NYSE:CAVA) by 5.1% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 554,934 shares of the company’s stock after buying an additional 27,066 shares during the period. Charles Schwab Investment Management Inc. owned approximately 0.48% of CAVA Group worth $47,952,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Utah Retirement Systems lifted its holdings in CAVA Group by 2.5% during the 4th quarter. Utah Retirement Systems now owns 4,100 shares of the company’s stock valued at $462,000 after buying an additional 100 shares in the last quarter. Whittier Trust Co. of Nevada Inc. raised its holdings in shares of CAVA Group by 37.3% in the 1st quarter. Whittier Trust Co. of Nevada Inc. now owns 530 shares of the company’s stock valued at $46,000 after purchasing an additional 144 shares in the last quarter. Miracle Mile Advisors LLC raised its holdings in shares of CAVA Group by 1.9% in the 1st quarter. Miracle Mile Advisors LLC now owns 8,247 shares of the company’s stock valued at $713,000 after purchasing an additional 150 shares in the last quarter. Kovitz Investment Group Partners LLC raised its holdings in shares of CAVA Group by 7.0% in the 4th quarter. Kovitz Investment Group Partners LLC now owns 2,435 shares of the company’s stock valued at $275,000 after purchasing an additional 159 shares in the last quarter. Finally, Regent Peak Wealth Advisors LLC raised its holdings in shares of CAVA Group by 6.2% in the 1st quarter. Regent Peak Wealth Advisors LLC now owns 3,166 shares of the company’s stock valued at $274,000 after purchasing an additional 186 shares in the last quarter. 73.15% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the stock. Citigroup reduced their price target on shares of CAVA Group from $102.00 to $88.00 and set a “neutral” rating for the company in a report on Wednesday. Morgan Stanley reduced their price target on shares of CAVA Group from $107.00 to $97.00 and set an “equal weight” rating for the company in a report on Wednesday. TD Securities restated a “buy” rating and issued a $120.00 price target on shares of CAVA Group in a report on Friday, May 16th. KeyCorp reduced their price target on shares of CAVA Group from $100.00 to $85.00 and set an “overweight” rating for the company in a report on Wednesday. Finally, TD Cowen reduced their price target on shares of CAVA Group from $120.00 to $90.00 and set a “buy” rating for the company in a report on Wednesday. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $100.44.

CAVA Group Trading Up 1.2%

NYSE:CAVA opened at $69.76 on Friday. The company has a market cap of $8.09 billion, a PE ratio of 58.62, a P/E/G ratio of 3.49 and a beta of 2.65. CAVA Group, Inc. has a twelve month low of $65.70 and a twelve month high of $172.43. The company’s 50 day moving average is $82.85 and its two-hundred day moving average is $91.08.

CAVA Group (NYSE:CAVA) last released its earnings results on Tuesday, August 12th. The company reported $0.16 earnings per share for the quarter, topping the consensus estimate of $0.13 by $0.03. The company had revenue of $280.62 million for the quarter, compared to the consensus estimate of $285.65 million. CAVA Group had a net margin of 12.98% and a return on equity of 9.83%. CAVA Group’s revenue was up 20.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.17 EPS. As a group, analysts expect that CAVA Group, Inc. will post 0.5 EPS for the current fiscal year.

Insider Activity at CAVA Group

In other news, CFO Tricia K. Tolivar sold 4,845 shares of the company’s stock in a transaction on Monday, June 16th. The shares were sold at an average price of $75.16, for a total value of $364,150.20. Following the sale, the chief financial officer directly owned 236,345 shares of the company’s stock, valued at $17,763,690.20. This represents a 2.01% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Brett Schulman sold 31,856 shares of the company’s stock in a transaction on Monday, June 16th. The shares were sold at an average price of $75.16, for a total transaction of $2,394,296.96. Following the completion of the sale, the chief executive officer directly owned 792,318 shares in the company, valued at $59,550,620.88. This trade represents a 3.87% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 58,603 shares of company stock worth $4,522,089 in the last 90 days. 6.80% of the stock is owned by insiders.

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.