CAVA Group, Inc. (NYSE:CAVA) Shares Sold by Ameriprise Financial Inc.

Ameriprise Financial Inc. trimmed its stake in CAVA Group, Inc. (NYSE:CAVA - Free Report) by 93.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 14,436 shares of the company's stock after selling 201,964 shares during the quarter. Ameriprise Financial Inc.'s holdings in CAVA Group were worth $1,628,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the stock. Vanguard Group Inc. raised its holdings in shares of CAVA Group by 20.4% in the fourth quarter. Vanguard Group Inc. now owns 8,011,602 shares of the company's stock worth $903,709,000 after acquiring an additional 1,357,187 shares during the last quarter. FMR LLC raised its holdings in shares of CAVA Group by 14.1% in the fourth quarter. FMR LLC now owns 3,976,353 shares of the company's stock worth $448,533,000 after acquiring an additional 491,320 shares during the last quarter. Jennison Associates LLC increased its stake in CAVA Group by 36,658.7% in the fourth 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 last quarter. Federated Hermes Inc. increased its stake in CAVA Group by 33.0% in the fourth quarter. Federated Hermes Inc. now owns 1,464,987 shares of the company's stock valued at $165,243,000 after purchasing an additional 363,814 shares during the last quarter. Finally, Lord Abbett & CO. LLC increased its stake in CAVA Group by 2.3% in the fourth quarter. Lord Abbett & CO. LLC now owns 1,389,327 shares of the company's stock valued at $156,716,000 after purchasing an additional 31,077 shares during the last quarter. 73.15% of the stock is owned by institutional investors and hedge funds.

Insider Activity at CAVA Group

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

Analyst Ratings Changes

Several equities analysts recently commented on CAVA shares. Citigroup upped their target price on CAVA Group from $114.00 to $115.00 and gave the company a "neutral" rating in a research note on Friday, May 16th. Bank of America upped their target price on CAVA Group from $112.00 to $121.00 and gave the company a "buy" rating in a research note on Monday, May 19th. Sanford C. Bernstein upgraded CAVA Group from a "market perform" rating to an "outperform" rating and set a $115.00 target price for the company in a research note on Wednesday, April 23rd. JPMorgan Chase & Co. upgraded CAVA Group from a "neutral" rating to an "overweight" rating and set a $110.00 target price for the company in a research note on Thursday, March 20th. Finally, Wedbush reissued an "outperform" rating and set a $150.00 price target on shares of CAVA Group in a research report on Wednesday, February 26th. Five equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $123.00.

CAVA Group Stock Down 0.0%

Shares of NYSE CAVA traded down $0.01 on Monday, hitting $81.26. The company had a trading volume of 2,794,956 shares, compared to its average volume of 3,113,514. CAVA Group, Inc. has a 12-month low of $70.00 and a 12-month high of $172.43. The business has a 50 day moving average of $88.51 and a two-hundred day moving average of $107.69. The firm has a market capitalization of $9.40 billion, a P/E ratio of 176.65 and a beta of 3.28.

CAVA Group (NYSE:CAVA - Get Free Report) last issued its earnings results on Thursday, May 15th. The company reported $0.22 earnings per share for the quarter, topping the consensus estimate of $0.14 by $0.08. The company had revenue of $331.83 million during the quarter, compared to the consensus estimate of $327.98 million. CAVA Group had a return on equity of 9.10% and a net margin of 5.88%. The company's revenue was up 28.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.12 earnings per share. On average, sell-side analysts anticipate 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.