Rhumbline Advisers Has $19.42 Million Stock Holdings in CAVA Group, Inc. (NYSE:CAVA)

Rhumbline Advisers increased its holdings in shares of CAVA Group, Inc. (NYSE:CAVA - Free Report) by 150.7% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 224,727 shares of the company's stock after buying an additional 135,100 shares during the quarter. Rhumbline Advisers owned 0.19% of CAVA Group worth $19,419,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently bought and sold shares of CAVA. Arcadia Investment Management Corp MI acquired a new stake in shares of CAVA Group during the 4th quarter valued at $25,000. Allworth Financial LP boosted its position in CAVA Group by 369.2% during the fourth quarter. Allworth Financial LP now owns 244 shares of the company's stock valued at $30,000 after purchasing an additional 192 shares during the last quarter. Larson Financial Group LLC grew its stake in CAVA Group by 274.0% in the fourth quarter. Larson Financial Group LLC now owns 273 shares of the company's stock valued at $31,000 after purchasing an additional 200 shares in the last quarter. Versant Capital Management Inc purchased a new position in CAVA Group in the first quarter valued at about $31,000. Finally, Whittier Trust Co. increased its position in CAVA Group by 80.9% in the 4th quarter. Whittier Trust Co. now owns 284 shares of the company's stock worth $32,000 after purchasing an additional 127 shares during the last quarter. 73.15% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the company. Barclays reduced their price target on CAVA Group from $104.00 to $90.00 and set an "equal weight" rating for the company in a report on Tuesday, April 22nd. TD Securities reiterated a "buy" rating and issued a $120.00 target price on shares of CAVA Group in a research note on Friday, May 16th. Loop Capital dropped their price target on shares of CAVA Group from $147.00 to $100.00 and set a "hold" rating on the stock in a research note on Thursday, February 27th. Citigroup raised their price target on shares of CAVA Group from $114.00 to $115.00 and gave the company a "neutral" rating in a report on Friday, May 16th. Finally, Bank of America upped their price objective on shares of CAVA Group from $112.00 to $121.00 and gave the stock a "buy" rating in a report on Monday, May 19th. Five investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $123.00.

Insiders Place Their Bets

In other news, insider Theodoros Xenohristos sold 9,348 shares of the business's stock in a transaction that occurred on Friday, May 9th. The stock was sold at an average price of $94.88, for a total transaction of $886,938.24. Following the sale, the insider now directly owns 353,271 shares in the company, valued at approximately $33,518,352.48. The trade was a 2.58% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Kelly Costanza sold 10,243 shares of the firm's stock in a transaction on Wednesday, May 21st. The stock was sold at an average price of $86.63, for a total value of $887,351.09. Following the completion of the transaction, the insider now directly owns 125,347 shares of the company's stock, valued at approximately $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. Company insiders own 6.80% of the company's stock.

CAVA Group Price Performance

Shares of NYSE CAVA traded up $0.19 during trading hours on Tuesday, hitting $78.41. 3,257,444 shares of the company's stock were exchanged, compared to its average volume of 3,085,776. The company's 50-day moving average price is $87.50 and its 200-day moving average price is $104.92. CAVA Group, Inc. has a 1-year low of $70.00 and a 1-year high of $172.43. The stock has a market capitalization of $9.07 billion, a price-to-earnings ratio of 170.46 and a beta of 2.77.

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