AQR Capital Management LLC Acquires 82,704 Shares of CAVA Group, Inc. (NYSE:CAVA)

AQR Capital Management LLC grew its stake in shares of CAVA Group, Inc. (NYSE:CAVA - Free Report) by 50.3% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 246,984 shares of the company's stock after acquiring an additional 82,704 shares during the period. AQR Capital Management LLC owned 0.22% of CAVA Group worth $27,860,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Jennison Associates LLC boosted its holdings in CAVA Group by 36,658.7% in the 4th quarter. Jennison Associates LLC now owns 2,461,732 shares of the company's stock valued at $277,683,000 after purchasing an additional 2,455,035 shares during the period. Vanguard Group Inc. lifted its stake in CAVA Group by 20.4% in the fourth quarter. Vanguard Group Inc. now owns 8,011,602 shares of the company's stock valued at $903,709,000 after buying an additional 1,357,187 shares in the last quarter. Barclays PLC grew its stake in shares of CAVA Group by 116.7% during the 4th quarter. Barclays PLC now owns 84,755 shares of the company's stock worth $9,560,000 after acquiring an additional 591,866 shares in the last quarter. Norges Bank acquired a new position in CAVA Group during the fourth quarter valued at approximately $64,538,000. Finally, Raymond James Financial Inc. bought a new stake in CAVA Group in the 4th quarter valued at $59,516,000. 73.15% of the stock is currently owned by institutional investors and hedge funds.

CAVA Group Price Performance

Shares of CAVA stock traded down $2.46 on Tuesday, hitting $93.38. The stock had a trading volume of 2,835,455 shares, compared to its average volume of 3,104,847. CAVA Group, Inc. has a 12-month low of $70.00 and a 12-month high of $172.43. The stock has a market cap of $10.80 billion, a price-to-earnings ratio of 203.00 and a beta of 3.28. The business has a 50 day moving average of $86.08 and a 200 day moving average of $114.10.

CAVA Group (NYSE:CAVA - Get Free Report) last issued its quarterly earnings results on Tuesday, February 25th. The company reported $0.05 EPS for the quarter, missing analysts' consensus estimates of $0.06 by ($0.01). CAVA Group had a net margin of 5.88% and a return on equity of 9.10%. The business had revenue of $227.40 million for the quarter, compared to analysts' expectations of $223.34 million. As a group, research analysts expect that CAVA Group, Inc. will post 0.5 earnings per share for the current fiscal year.

Analyst Ratings Changes

CAVA has been the topic of a number of recent research reports. Piper Sandler raised CAVA Group from a "neutral" rating to an "overweight" rating and cut their price target for the company from $142.00 to $115.00 in a research note on Friday, February 28th. Wedbush restated an "outperform" rating and set a $150.00 price objective on shares of CAVA Group in a research report on Wednesday, February 26th. Sanford C. Bernstein upgraded CAVA Group from a "market perform" rating to an "outperform" rating and set a $115.00 target price on the stock in a report on Wednesday, April 23rd. Citigroup lowered their price target on shares of CAVA Group from $163.00 to $140.00 and set a "neutral" rating for the company in a report on Friday, February 21st. Finally, UBS Group reduced their price objective on shares of CAVA Group from $160.00 to $125.00 and set a "neutral" rating on the stock in a research note on Tuesday, January 7th. Five equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $124.19.

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.