CAVA Group, Inc. (NYSE:CAVA) Shares Acquired by Lord Abbett & CO. LLC

Lord Abbett & CO. LLC increased its stake in shares of CAVA Group, Inc. (NYSE:CAVA - Free Report) by 2.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,389,327 shares of the company's stock after acquiring an additional 31,077 shares during the quarter. Lord Abbett & CO. LLC owned about 1.21% of CAVA Group worth $156,716,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Kovitz Investment Group Partners LLC grew its position in CAVA Group by 7.0% during the 4th quarter. Kovitz Investment Group Partners LLC now owns 2,435 shares of the company's stock worth $275,000 after purchasing an additional 159 shares during the last quarter. Integrated Wealth Concepts LLC boosted its stake in shares of CAVA Group by 4.5% during the fourth quarter. Integrated Wealth Concepts LLC now owns 6,678 shares of the company's stock worth $753,000 after buying an additional 288 shares during the period. Quantessence Capital LLC purchased a new position in shares of CAVA Group during the fourth quarter worth about $1,126,000. Hsbc Holdings PLC acquired a new position in CAVA Group in the 4th quarter valued at about $2,047,000. Finally, Stifel Financial Corp raised its stake in CAVA Group by 17.0% during the 4th quarter. Stifel Financial Corp now owns 67,166 shares of the company's stock valued at $7,576,000 after acquiring an additional 9,771 shares during the last quarter. Institutional investors and hedge funds own 73.15% of the company's stock.

CAVA Group Stock Performance

NYSE:CAVA traded down $0.62 during mid-day trading on Wednesday, hitting $91.29. 1,122,808 shares of the company's stock traded hands, compared to its average volume of 3,104,129. The company has a market cap of $10.55 billion, a PE ratio of 198.46 and a beta of 3.33. The firm's 50 day simple moving average is $86.70 and its 200 day simple moving average is $115.34. CAVA Group, Inc. has a 1 year low of $66.15 and a 1 year high of $172.43.

CAVA Group (NYSE:CAVA - Get Free Report) last posted its 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 company had revenue of $227.40 million during the quarter, compared to analysts' expectations of $223.34 million. CAVA Group had a net margin of 5.88% and a return on equity of 9.10%. On average, research analysts expect that CAVA Group, Inc. will post 0.5 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on CAVA shares. 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 research note on Thursday, March 20th. Citigroup lowered their target price on shares of CAVA Group from $163.00 to $140.00 and set a "neutral" rating on the stock in a report on Friday, February 21st. Piper Sandler upgraded shares of 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. Barclays dropped their target price on CAVA Group from $104.00 to $90.00 and set an "equal weight" rating on the stock in a research report on Tuesday, April 22nd. Finally, William Blair reissued an "outperform" rating on shares of CAVA Group in a report on Wednesday, February 26th. Five research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $124.19.

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.