Nuveen LLC Invests $72.80 Million in CAVA Group, Inc. (NYSE:CAVA)

Key Points

• Nuveen LLC has invested $72.80 million in CAVA Group, Inc., acquiring approximately 842,494 shares, which represents about 0.73% of the company as of the latest SEC filing.
• Several institutional investors have increased their stakes in CAVA, collectively holding 73.15% of the company's stock, with Barclays PLC notably raising their position by 116.7%.
• CAVA Group's recent earnings report showed a revenue of $280.62 million, surpassing earnings expectations while also reflecting a 20.2% year-over-year revenue growth.

Nuveen LLC acquired a new position in CAVA Group, Inc. (NYSE:CAVA - Free Report) during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 842,494 shares of the company's stock, valued at approximately $72,800,000. Nuveen LLC owned 0.73% of CAVA Group at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Vanguard Group Inc. increased its stake in shares of CAVA Group by 13.2% in the first 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 during the period. Jennison Associates LLC increased its stake in shares of CAVA Group by 246.1% in the first quarter. Jennison Associates LLC now owns 8,519,459 shares of the company's stock worth $736,166,000 after acquiring an additional 6,057,727 shares during the period. Lord Abbett & CO. LLC increased its stake in shares of CAVA Group by 2.3% in the fourth quarter. Lord Abbett & CO. LLC now owns 1,389,327 shares of the company's stock worth $156,716,000 after acquiring an additional 31,077 shares during the period. Man Group plc increased its stake in shares of CAVA Group by 563.7% in the fourth quarter. Man Group plc now owns 935,075 shares of the company's stock worth $105,476,000 after acquiring an additional 794,187 shares during the period. Finally, Driehaus Capital Management LLC grew its position in CAVA Group by 5.1% during the fourth quarter. Driehaus Capital Management LLC now owns 760,097 shares of the company's stock valued at $85,739,000 after buying an additional 36,770 shares during the period. Institutional investors and hedge funds own 73.15% of the company's stock.

CAVA Group Price Performance

CAVA traded up $0.83 on Friday, reaching $69.76. 4,820,851 shares of the company's stock were exchanged, compared to its average volume of 6,001,963. The stock has a market cap of $8.09 billion, a PE ratio of 58.62, a P/E/G ratio of 3.45 and a beta of 2.65. CAVA Group, Inc. has a twelve month low of $65.70 and a twelve month high of $172.43. The stock's fifty day moving average price is $82.85 and its 200-day moving average price is $91.38.

CAVA Group (NYSE:CAVA - Get Free Report) last posted its quarterly earnings results 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. CAVA Group had a net margin of 12.98% and a return on equity of 9.83%. The firm had revenue of $280.62 million for the quarter, compared to analyst estimates of $285.65 million. During the same period in the previous year, the business posted $0.17 earnings per share. CAVA Group's quarterly revenue was up 20.2% on a year-over-year basis. As a group, research analysts predict that CAVA Group, Inc. will post 0.5 earnings per share for the current fiscal year.

Insider Activity at CAVA Group

In other CAVA Group news, insider Theodoros Xenohristos sold 3,062 shares of CAVA Group stock in a transaction dated Monday, June 16th. The shares were sold at an average price of $75.16, for a total transaction of $230,139.92. Following the transaction, the insider directly owned 350,209 shares of the company's stock, valued at $26,321,708.44. The trade was a 0.87% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Kelly Costanza sold 10,243 shares of CAVA Group stock in a transaction dated Wednesday, May 21st. The stock was sold at an average price of $86.63, for a total transaction of $887,351.09. Following the transaction, the insider directly owned 125,347 shares in the company, valued at $10,858,810.61. This trade represents a 7.55% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 58,603 shares of company stock valued at $4,522,089 over the last ninety days. Corporate insiders own 6.80% of the company's stock.

Analyst Ratings Changes

Several analysts recently commented on the stock. Morgan Stanley dropped their price target on shares of CAVA Group from $107.00 to $97.00 and set an "equal weight" rating on the stock in a research report on Wednesday. JPMorgan Chase & Co. dropped their price target on shares of CAVA Group from $115.00 to $95.00 and set an "overweight" rating on the stock in a research report on Wednesday, June 25th. TD Securities restated a "buy" rating and set a $120.00 price target on shares of CAVA Group in a research report on Friday, May 16th. Sanford C. Bernstein set a $74.00 price target on shares of CAVA Group in a research report on Wednesday. Finally, Wall Street Zen lowered shares of CAVA Group from a "hold" rating to a "sell" rating in a research report on Friday, June 27th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat.com, CAVA Group has an average rating of "Moderate Buy" and a consensus target price of $100.44.

CAVA Group Company 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.