California State Teachers Retirement System Purchases 19,225 Shares of CAVA Group, Inc. (NYSE:CAVA)

California State Teachers Retirement System increased its stake in CAVA Group, Inc. (NYSE:CAVA - Free Report) by 34.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 74,542 shares of the company's stock after purchasing an additional 19,225 shares during the quarter. California State Teachers Retirement System owned about 0.06% of CAVA Group worth $8,408,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Janney Montgomery Scott LLC purchased a new stake in shares of CAVA Group during the 4th quarter worth about $3,056,000. Geneos Wealth Management Inc. bought a new position in CAVA Group during the fourth quarter worth $63,000. Kingswood Wealth Advisors LLC bought a new stake in shares of CAVA Group in the fourth quarter valued at about $260,000. KBC Group NV lifted its position in shares of CAVA Group by 114.8% in the 4th quarter. KBC Group NV now owns 3,433 shares of the company's stock worth $387,000 after acquiring an additional 1,835 shares during the period. Finally, Perigon Wealth Management LLC boosted its stake in CAVA Group by 89.7% during the fourth quarter. Perigon Wealth Management LLC now owns 4,099 shares of the company's stock worth $482,000 after buying an additional 1,938 shares in the last quarter. Institutional investors and hedge funds own 73.15% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the company. William Blair restated an "outperform" rating on shares of CAVA Group in a research note on Wednesday, February 26th. TD Securities reiterated a "buy" rating and issued a $120.00 price target on shares of CAVA Group in a report on Friday, May 16th. Citigroup boosted their price target on shares of CAVA Group from $114.00 to $115.00 and gave the stock a "neutral" rating in a research report on Friday, May 16th. Wedbush reissued an "outperform" rating and issued a $150.00 target price on shares of CAVA Group in a research note on Wednesday, February 26th. Finally, JPMorgan Chase & Co. upgraded CAVA Group from a "neutral" rating to an "overweight" rating and set a $110.00 price objective on the stock in a research note on Thursday, March 20th. Five investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat.com, CAVA Group currently has an average rating of "Moderate Buy" and an average target price of $123.00.

Insider Activity

In other CAVA Group news, insider Theodoros Xenohristos sold 9,348 shares of the stock in a transaction dated Friday, May 9th. The stock was sold at an average price of $94.88, for a total value of $886,938.24. Following the transaction, the insider now owns 353,271 shares of the company's stock, valued at approximately $33,518,352.48. This represents a 2.58% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Kelly Costanza sold 10,243 shares of the stock in a transaction on Wednesday, May 21st. The stock was sold at an average price of $86.63, for a total value of $887,351.09. Following the transaction, the insider now directly owns 125,347 shares in the company, valued at $10,858,810.61. The trade was a 7.55% decrease in their position. The disclosure for this sale can be found here. 6.80% of the stock is owned by company insiders.

CAVA Group Price Performance

Shares of NYSE:CAVA traded up $0.94 during mid-day trading on Wednesday, reaching $82.00. 3,260,892 shares of the company were exchanged, compared to its average volume of 3,103,977. The firm has a market cap of $9.48 billion, a price-to-earnings ratio of 178.26 and a beta of 2.77. CAVA Group, Inc. has a 1 year low of $70.00 and a 1 year high of $172.43. The firm's 50-day simple moving average is $88.18 and its 200 day simple moving average is $106.91.

CAVA Group (NYSE:CAVA - Get Free Report) last posted its earnings results on Thursday, May 15th. The company reported $0.22 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.14 by $0.08. CAVA Group had a return on equity of 9.10% and a net margin of 5.88%. The company had revenue of $331.83 million for the quarter, compared to analysts' expectations of $327.98 million. During the same period last year, the business posted $0.12 earnings per share. The firm's quarterly revenue was up 28.1% compared to the same quarter last year. On average, research analysts forecast that CAVA Group, Inc. will post 0.5 earnings per share for the current fiscal 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.