American Century Companies Inc. Raises Stake in CAVA Group, Inc. $CAVA

Key Points

• American Century Companies Inc. increased its stake in CAVA Group, purchasing 133,222 shares and raising its overall ownership to 213,463 shares, now valued at approximately $18.45 million.
• Analysts have adjusted their price targets for CAVA Group, with estimates ranging from $74.00 to $125.00, and the stock currently holds an average rating of "Moderate Buy."
• CAVA Group reported a quarterly earnings per share of $0.16, beating expectations, but fell short on revenue with $280.62 million compared to a forecast of $285.65 million.

American Century Companies Inc. boosted its stake in CAVA Group, Inc. (NYSE:CAVA - Free Report) by 166.0% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 213,463 shares of the company's stock after acquiring an additional 133,222 shares during the period. American Century Companies Inc. owned 0.18% of CAVA Group worth $18,445,000 as of its most recent filing with the SEC.

Other hedge funds have also added to or reduced their stakes in the company. First Horizon Advisors Inc. raised its position in shares of CAVA Group by 1,400.0% in the first quarter. First Horizon Advisors Inc. now owns 285 shares of the company's stock valued at $25,000 after purchasing an additional 266 shares during the period. Vision Financial Markets LLC bought a new stake in shares of CAVA Group in the first quarter valued at approximately $26,000. Dagco Inc. bought a new stake in shares of CAVA Group in the first quarter valued at approximately $27,000. Versant Capital Management Inc bought a new stake in shares of CAVA Group in the first quarter valued at approximately $31,000. Finally, Horizon Investments LLC bought a new stake in shares of CAVA Group in the first quarter valued at approximately $42,000. Institutional investors own 73.15% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the stock. UBS Group lowered their price target on shares of CAVA Group from $96.00 to $75.00 and set a "neutral" rating on the stock in a research report on Wednesday, August 13th. TD Securities reaffirmed a "buy" rating and set a $120.00 target price on shares of CAVA Group in a report on Friday, May 16th. Stifel Nicolaus decreased their target price on shares of CAVA Group from $175.00 to $125.00 and set a "buy" rating on the stock in a report on Wednesday, June 18th. Cfra Research upgraded shares of CAVA Group to a "strong-buy" rating in a report on Thursday, August 14th. Finally, Robert W. Baird set a $95.00 price target on shares of CAVA Group in a report on Wednesday, August 13th. One research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and seven have given a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $99.47.

Insider Transactions at CAVA Group

In related news, insider Jennifer Somers sold 2,861 shares of the firm'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 $215,032.76. Following the completion of the transaction, the insider directly owned 137,048 shares of the company's stock, valued at approximately $10,300,527.68. This trade represents a 2.04% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Theodoros Xenohristos sold 3,062 shares of the firm'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 $230,139.92. Following the completion of the transaction, the insider directly owned 350,209 shares of the company's stock, valued at approximately $26,321,708.44. This trade represents a 0.87% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 48,360 shares of company stock valued at $3,634,738 in the last 90 days. Company insiders own 6.80% of the company's stock.

CAVA Group Stock Performance

Shares of CAVA Group stock traded down $0.90 on Friday, hitting $67.31. 1,791,975 shares of the company traded hands, compared to its average volume of 3,835,762. The stock has a market capitalization of $7.81 billion, a P/E ratio of 56.57, a price-to-earnings-growth ratio of 3.39 and a beta of 2.65. CAVA Group, Inc. has a 52 week low of $65.03 and a 52 week high of $172.43. The business has a 50-day simple moving average of $81.39 and a 200 day simple moving average of $86.96.

CAVA Group (NYSE:CAVA - Get Free Report) last released its quarterly earnings data on Tuesday, August 12th. The company reported $0.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.13 by $0.03. The firm had revenue of $280.62 million for the quarter, compared to analysts' expectations of $285.65 million. CAVA Group had a net margin of 12.98% and a return on equity of 9.83%. The company's revenue for the quarter was up 20.2% compared to the same quarter last year. During the same quarter last year, the business posted $0.17 earnings per share. Research analysts expect that CAVA Group, Inc. will post 0.5 earnings per share for the current year.

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.