MetLife Investment Management LLC Grows Position in CAVA Group, Inc. $CAVA

Key Points

• MetLife Investment Management LLC significantly increased its stake in CAVA Group by 939.8% during the first quarter, now holding 48,352 shares valued at approximately $4.18 million.
• CAVA Group reported an EPS of $0.16 for the last quarter, exceeding expectations, but its revenue of $280.62 million was below the forecast of $285.65 million.
• Recent analyst ratings have generally downgraded CAVA Group's price targets, with KeyCorp reducing their price objective from $100.00 to $85.00, while the consensus rating remains a Moderate Buy.

MetLife Investment Management LLC raised its holdings in shares of CAVA Group, Inc. (NYSE:CAVA - Free Report) by 939.8% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 48,352 shares of the company's stock after acquiring an additional 43,702 shares during the period. MetLife Investment Management LLC's holdings in CAVA Group were worth $4,178,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. First Horizon Advisors Inc. lifted its stake in CAVA Group by 1,400.0% during the 1st quarter. First Horizon Advisors Inc. now owns 285 shares of the company's stock valued at $25,000 after acquiring an additional 266 shares during the period. Vision Financial Markets LLC acquired a new stake in CAVA Group during the 1st quarter valued at approximately $26,000. Dagco Inc. acquired a new stake in CAVA Group during the 1st quarter valued at approximately $27,000. Versant Capital Management Inc acquired a new stake in CAVA Group during the 1st quarter valued at approximately $31,000. Finally, Brooklyn Investment Group lifted its stake in CAVA Group by 168.0% during the 1st quarter. Brooklyn Investment Group now owns 402 shares of the company's stock valued at $35,000 after acquiring an additional 252 shares during the period. 73.15% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at CAVA Group

In other CAVA Group news, CFO Tricia K. Tolivar sold 4,845 shares of the company'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 $364,150.20. Following the completion of the transaction, the chief financial officer directly owned 236,345 shares in the company, valued at approximately $17,763,690.20. This represents a 2.01% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Jennifer Somers sold 2,861 shares of the company's stock in a transaction on Monday, June 16th. The stock was sold at an average price of $75.16, for a total transaction of $215,032.76. Following the transaction, the insider owned 137,048 shares of the company's stock, valued at $10,300,527.68. This represents a 2.04% 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 three months. Company insiders own 12.10% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. Melius assumed coverage on shares of CAVA Group in a research note on Monday, July 14th. They set a "hold" rating and a $95.00 price objective for the company. UBS Group decreased their target price on shares of CAVA Group from $96.00 to $75.00 and set a "neutral" rating for the company in a research note on Wednesday, August 13th. Stifel Nicolaus decreased their target price on shares of CAVA Group from $175.00 to $125.00 and set a "buy" rating for the company in a research note on Wednesday, June 18th. TD Cowen decreased their target price on shares of CAVA Group from $120.00 to $90.00 and set a "buy" rating for the company in a research note on Wednesday, August 13th. Finally, Wall Street Zen cut shares of CAVA Group from a "hold" rating to a "sell" rating in a research note on Friday, June 27th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and seven have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $99.47.

CAVA Group Trading Down 3.0%

NYSE:CAVA traded down $2.01 during trading hours on Tuesday, reaching $65.54. 3,520,536 shares of the company were exchanged, compared to its average volume of 3,841,158. The stock's 50-day moving average is $81.10 and its 200-day moving average is $85.46. The firm has a market cap of $7.60 billion, a PE ratio of 55.08, a price-to-earnings-growth ratio of 3.38 and a beta of 2.62. CAVA Group, Inc. has a twelve month low of $65.03 and a twelve month high of $172.43.

CAVA Group (NYSE:CAVA - Get Free Report) last posted its quarterly earnings data on Tuesday, August 12th. The company reported $0.16 earnings per share for the quarter, topping analysts' consensus estimates of $0.13 by $0.03. The company had revenue of $280.62 million during 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 firm's revenue for the quarter was up 20.2% on a year-over-year basis. During the same period in the prior year, the business posted $0.17 earnings per share. As a group, research analysts anticipate that CAVA Group, Inc. will post 0.5 EPS 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.