Northwestern Mutual Wealth Management Co. Raises Stake in CAVA Group, Inc. $CAVA

Key Points

• Northwestern Mutual Wealth Management Co. significantly increased its stake in CAVA Group, Inc. by 9,322.4% during the first quarter, owning 378,497 shares worth approximately $32.71 million.
• CAVA Group received various ratings from analysts, including a "strong-buy" from Cfra Research and price target adjustments, with the consensus rating categorized as "Moderate Buy".
• After reporting quarterly earnings of $0.16 per share, which exceeded estimates, CAVA Group's revenue was up 20.2% year-over-year, although it fell short of analyst expectations.

Northwestern Mutual Wealth Management Co. grew its holdings in CAVA Group, Inc. (NYSE:CAVA - Free Report) by 9,322.4% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 378,497 shares of the company's stock after acquiring an additional 374,480 shares during the quarter. Northwestern Mutual Wealth Management Co. owned about 0.33% of CAVA Group worth $32,706,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Jennison Associates LLC raised its holdings in CAVA Group by 246.1% during the first quarter. Jennison Associates LLC now owns 8,519,459 shares of the company's stock worth $736,166,000 after purchasing an additional 6,057,727 shares in the last quarter. Price T Rowe Associates Inc. MD grew its position in shares of CAVA Group by 114.4% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 2,394,561 shares of the company's stock valued at $206,915,000 after buying an additional 1,277,912 shares during the last quarter. Vanguard Group Inc. raised its stake in CAVA Group by 13.2% during the 1st quarter. Vanguard Group Inc. now owns 9,065,782 shares of the company's stock worth $783,374,000 after acquiring an additional 1,054,180 shares in the last quarter. Nuveen LLC purchased a new stake in CAVA Group in the first quarter valued at $72,800,000. Finally, Man Group plc boosted its stake in CAVA Group by 563.7% in the fourth quarter. Man Group plc now owns 935,075 shares of the company's stock valued at $105,476,000 after acquiring an additional 794,187 shares in the last quarter. Hedge funds and other institutional investors own 73.15% of the company's stock.

CAVA Group Price Performance

Shares of NYSE:CAVA traded down $0.70 during trading on Friday, reaching $67.51. The company had a trading volume of 2,096,579 shares, compared to its average volume of 3,837,676. The stock's fifty day moving average price is $81.39 and its 200 day moving average price is $86.96. CAVA Group, Inc. has a fifty-two week low of $65.03 and a fifty-two week high of $172.43. The firm has a market capitalization of $7.83 billion, a price-to-earnings ratio of 56.72, a price-to-earnings-growth ratio of 3.39 and a beta of 2.65.

CAVA Group (NYSE:CAVA - Get Free Report) last announced 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 company 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%. CAVA Group's revenue was up 20.2% compared to the same quarter last year. During the same period in the previous year, the company posted $0.17 EPS. On average, equities analysts anticipate that CAVA Group, Inc. will post 0.5 EPS for the current fiscal year.

Insider Buying and Selling at CAVA Group

In other CAVA Group news, CFO Tricia K. Tolivar sold 4,845 shares of the business's stock in a transaction that occurred on Monday, June 16th. The stock was sold at an average price of $75.16, for a total transaction of $364,150.20. Following the transaction, the chief financial officer owned 236,345 shares in the company, valued at approximately $17,763,690.20. The trade was a 2.01% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Brett Schulman sold 31,856 shares of the stock in a transaction that occurred on Monday, June 16th. The stock was sold at an average price of $75.16, for a total value of $2,394,296.96. Following the transaction, the chief executive officer directly owned 792,318 shares of the company's stock, valued at approximately $59,550,620.88. This trade represents a 3.87% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 48,360 shares of company stock valued at $3,634,738. Insiders own 6.80% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have recently commented on CAVA. Melius initiated coverage on CAVA Group in a research report on Monday, July 14th. They set a "hold" rating and a $95.00 target price on the stock. Wall Street Zen lowered CAVA Group from a "hold" rating to a "sell" rating in a research report on Friday, June 27th. Stifel Nicolaus decreased their price objective on CAVA Group from $175.00 to $125.00 and set a "buy" rating for the company in a report on Wednesday, June 18th. Piper Sandler cut their target price on shares of CAVA Group from $122.00 to $100.00 and set an "overweight" rating on the stock in a report on Wednesday, August 13th. Finally, KeyCorp reduced their price target on shares of CAVA Group from $100.00 to $85.00 and set an "overweight" rating for the company in a research report on Wednesday, August 13th. One research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and seven have assigned a Hold rating to the stock. According to data from MarketBeat.com, CAVA Group has an average rating of "Moderate Buy" and an average price target of $99.47.

About CAVA Group

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.