Oregon Public Employees Retirement Fund Takes $1.43 Million Position in CAVA Group, Inc. (NYSE:CAVA)

Oregon Public Employees Retirement Fund acquired a new stake in shares of CAVA Group, Inc. (NYSE:CAVA - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 16,600 shares of the company's stock, valued at approximately $1,434,000.

Several other institutional investors have also added to or reduced their stakes in the company. SRS Capital Advisors Inc. grew its stake in shares of CAVA Group by 125.8% during the fourth quarter. SRS Capital Advisors Inc. now owns 438 shares of the company's stock worth $49,000 after buying an additional 244 shares during the last quarter. Jones Financial Companies Lllp grew its stake in shares of CAVA Group by 377.3% during the fourth quarter. Jones Financial Companies Lllp now owns 3,599 shares of the company's stock worth $406,000 after buying an additional 2,845 shares during the last quarter. Steward Partners Investment Advisory LLC grew its stake in shares of CAVA Group by 229.0% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 1,793 shares of the company's stock worth $202,000 after buying an additional 1,248 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of CAVA Group by 2.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 527,868 shares of the company's stock worth $59,544,000 after buying an additional 11,776 shares during the last quarter. Finally, Victory Capital Management Inc. grew its stake in shares of CAVA Group by 46.7% during the fourth quarter. Victory Capital Management Inc. now owns 29,851 shares of the company's stock worth $3,367,000 after buying an additional 9,497 shares during the last quarter. 73.15% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, insider Jennifer Somers sold 2,861 shares of the business's stock in a transaction on Monday, June 16th. The shares were sold at an average price of $75.16, for a total value of $215,032.76. Following the transaction, the insider owned 137,048 shares in the company, valued at $10,300,527.68. The trade was a 2.04% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Kelly Costanza sold 10,243 shares of the business's stock in a transaction on Wednesday, May 21st. The shares were sold at an average price of $86.63, for a total transaction of $887,351.09. Following the completion of the transaction, the insider owned 125,347 shares in the company, valued at approximately $10,858,810.61. The trade was a 7.55% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 67,951 shares of company stock valued at $5,409,027 over the last quarter. Company insiders own 12.10% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have weighed in on CAVA shares. TD Securities reaffirmed a "buy" rating and set a $120.00 target price on shares of CAVA Group in a research note on Friday, May 16th. Citigroup boosted their target price on shares of CAVA Group from $114.00 to $115.00 and gave the stock a "neutral" rating in a research note on Friday, May 16th. Stifel Nicolaus reduced their price objective on shares of CAVA Group from $175.00 to $125.00 and set a "buy" rating on the stock in a research note on Wednesday, June 18th. UBS Group reduced their price objective on shares of CAVA Group from $125.00 to $112.00 and set a "neutral" rating on the stock in a research note on Tuesday, May 13th. Finally, Barclays reduced their price objective on shares of CAVA Group from $104.00 to $90.00 and set an "equal weight" rating on the stock in a research note on Tuesday, April 22nd. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, CAVA Group currently has an average rating of "Moderate Buy" and an average target price of $117.82.

CAVA Group Trading Up 5.1%

CAVA stock traded up $4.23 during midday trading on Friday, hitting $86.94. The stock had a trading volume of 4,952,461 shares, compared to its average volume of 3,227,266. The firm has a market cap of $10.06 billion, a P/E ratio of 72.45, a price-to-earnings-growth ratio of 4.06 and a beta of 2.65. CAVA Group, Inc. has a 1-year low of $70.00 and a 1-year high of $172.43. The business has a fifty day moving average price of $84.82 and a two-hundred day moving average price of $97.56.

CAVA Group (NYSE:CAVA - Get Free Report) last released its earnings results on Thursday, May 15th. The company reported $0.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.14 by $0.08. The business had revenue of $331.83 million for the quarter, compared to analyst estimates of $327.98 million. CAVA Group had a net margin of 13.70% and a return on equity of 10.61%. CAVA Group's revenue for the quarter was up 28.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.12 earnings per share. On average, equities analysts anticipate that CAVA Group, Inc. will post 0.5 EPS for the current year.

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.