Victory Capital Management Inc. Buys 9,497 Shares of CAVA Group, Inc. (NYSE:CAVA)

Victory Capital Management Inc. boosted its stake in shares of CAVA Group, Inc. (NYSE:CAVA) by 46.7% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 29,851 shares of the company’s stock after purchasing an additional 9,497 shares during the period. Victory Capital Management Inc.’s holdings in CAVA Group were worth $3,367,000 as of its most recent filing with the SEC.

Several other institutional investors also recently added to or reduced their stakes in the stock. FMR LLC grew its position in CAVA Group by 0.9% during the third quarter. FMR LLC now owns 3,485,033 shares of the company’s stock valued at $431,621,000 after buying an additional 29,668 shares during the period. Jennison Associates LLC boosted its position in CAVA Group by 36,658.7% during the fourth quarter. Jennison Associates LLC now owns 2,461,732 shares of the company’s stock worth $277,683,000 after purchasing an additional 2,455,035 shares during the period. Two Sigma Advisers LP increased its stake in shares of CAVA Group by 17.0% in the third 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 increased its stake in shares of CAVA Group by 1.5% in 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 in the last quarter. Finally, State Street Corp increased its stake in shares of CAVA Group by 33.3% in 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 in the last quarter. Institutional investors own 73.15% of the company’s stock.

Wall Street Analysts Forecast Growth

CAVA has been the subject of several recent research reports. TD Securities reduced their target price on shares of CAVA Group from $150.00 to $130.00 and set a “buy” rating for the company in a research note on Wednesday, February 26th. William Blair reiterated an “outperform” rating on shares of CAVA Group in a research note on Wednesday, February 26th. Wedbush reiterated an “outperform” rating and issued a $150.00 target price on shares of CAVA Group in a research note on Wednesday, February 26th. Sanford C. Bernstein initiated coverage on shares of CAVA Group in a research note on Wednesday, November 20th. They issued a “market perform” rating and a $145.00 target price for the company. Finally, Barclays reduced their price objective on shares of CAVA Group from $127.00 to $104.00 and set an “equal weight” rating for the company in a research note on Wednesday, February 26th. Seven investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $131.47.

CAVA Group Price Performance

Shares of CAVA Group stock opened at $77.45 on Monday. CAVA Group, Inc. has a 1 year low of $58.22 and a 1 year high of $172.43. The firm has a market cap of $8.95 billion, a PE ratio of 168.37 and a beta of 3.58. The company has a 50 day simple moving average of $114.08 and a two-hundred day simple moving average of $124.14.

CAVA Group (NYSE:CAVA) last announced its earnings results on Tuesday, February 25th. The company reported $0.05 earnings per share (EPS) for the quarter, missing the consensus estimate 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 for the quarter, compared to the consensus estimate of $223.34 million. As a group, research analysts anticipate that CAVA Group, Inc. will post 0.5 earnings per share for the current year.

Insider Buying and Selling at CAVA Group

In other news, CFO Tricia K. Tolivar sold 2,086 shares of the business’s stock in a transaction that occurred on Tuesday, January 21st. The shares were 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 approximately $28,077,854.56. The trade was a 0.88 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Brett Schulman sold 20,564 shares of the business’s stock in a transaction that occurred on Tuesday, January 21st. The stock was sold at an average price of $119.18, for a total transaction of $2,450,817.52. Following the completion of the sale, the chief executive officer now owns 776,369 shares of the company’s stock, valued at approximately $92,527,657.42. The trade was a 2.58 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 29,235 shares of company stock worth $3,514,101 over the last three months. 12.10% of the stock is owned by insiders.

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.