CAVA Group, Inc. $CAVA Shares Acquired by State of New Jersey Common Pension Fund D

State of New Jersey Common Pension Fund D lifted its position in shares of CAVA Group, Inc. (NYSE:CAVA - Free Report) by 45.2% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 47,877 shares of the company's stock after buying an additional 14,898 shares during the quarter. State of New Jersey Common Pension Fund D's holdings in CAVA Group were worth $2,810,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. DMC Group LLC raised its stake in shares of CAVA Group by 3.7% during the 4th quarter. DMC Group LLC now owns 4,426 shares of the company's stock worth $260,000 after buying an additional 157 shares during the last quarter. Envestnet Portfolio Solutions Inc. raised its stake in shares of CAVA Group by 6.0% during the 3rd quarter. Envestnet Portfolio Solutions Inc. now owns 3,852 shares of the company's stock worth $233,000 after buying an additional 219 shares during the last quarter. Clearstead Advisors LLC raised its stake in shares of CAVA Group by 23.5% during the 3rd quarter. Clearstead Advisors LLC now owns 1,325 shares of the company's stock worth $80,000 after buying an additional 252 shares during the last quarter. Brown Advisory Inc. raised its stake in shares of CAVA Group by 9.3% during the 2nd quarter. Brown Advisory Inc. now owns 2,979 shares of the company's stock worth $251,000 after buying an additional 253 shares during the last quarter. Finally, Kingswood Wealth Advisors LLC raised its stake in shares of CAVA Group by 8.2% during the 3rd quarter. Kingswood Wealth Advisors LLC now owns 4,292 shares of the company's stock worth $259,000 after buying an additional 327 shares during the last quarter. Institutional investors and hedge funds own 73.15% of the company's stock.

CAVA Group Trading Up 1.3%

CAVA Group stock opened at $90.33 on Wednesday. The stock has a market cap of $10.51 billion, a PE ratio of 167.27, a P/E/G ratio of 6.35 and a beta of 1.90. The stock has a 50-day moving average price of $84.74 and a 200 day moving average price of $68.13. CAVA Group, Inc. has a 52 week low of $43.41 and a 52 week high of $101.50.

CAVA Group (NYSE:CAVA - Get Free Report) last posted its quarterly earnings data on Tuesday, February 24th. The company reported $0.04 EPS for the quarter, beating analysts' consensus estimates of $0.03 by $0.01. CAVA Group had a net margin of 5.40% and a return on equity of 8.43%. The company had revenue of $274.99 million during the quarter, compared to the consensus estimate of $268.04 million. During the same quarter in the prior year, the company posted $0.05 EPS. The company's quarterly revenue was up 20.9% compared to the same quarter last year. On average, equities analysts predict that CAVA Group, Inc. will post 0.52 EPS for the current year.

Analysts Set New Price Targets

A number of analysts recently commented on CAVA shares. TD Cowen lifted their price objective on CAVA Group from $90.00 to $100.00 and gave the stock a "buy" rating in a research report on Thursday, April 2nd. JPMorgan Chase & Co. lifted their price objective on CAVA Group from $80.00 to $90.00 and gave the stock an "overweight" rating in a research report on Friday, April 24th. Truist Financial lifted their price objective on CAVA Group from $80.00 to $85.00 and gave the stock a "buy" rating in a research report on Wednesday, February 25th. DA Davidson started coverage on CAVA Group in a research report on Friday, March 6th. They set a "neutral" rating and a $80.00 price objective for the company. Finally, Wall Street Zen upgraded CAVA Group from a "sell" rating to a "hold" rating in a research report on Sunday. One analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, eleven have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $89.70.

About CAVA Group

CAVA Group, Inc NYSE: CAVA is a leading fast-casual restaurant company specializing in Mediterranean-inspired cuisine. Operating under the CAVA brand, the company offers customizable bowls, pitas and salads built around a variety of proteins, grains, fresh vegetables and house-made spreads. With a focus on high-quality ingredients and made-to-order preparation, CAVA aims to deliver a casual yet elevated dining experience for dine-in, takeout and catering customers.

Founded in 2011 in the Washington, DC metro area by Ike Grigoropoulos, Dimitri Katsanis and Brett Schulman, CAVA has pursued an aggressive growth strategy that included the 2018 acquisition of Zoe's Kitchen.

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