CAVA Group, Inc. (NYSE:CAVA) Stock Position Lifted by Royal Bank of Canada

Royal Bank of Canada lifted its stake in CAVA Group, Inc. (NYSE:CAVA - Free Report) by 308.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 154,037 shares of the company's stock after purchasing an additional 116,313 shares during the period. Royal Bank of Canada owned about 0.13% of CAVA Group worth $17,376,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Utah Retirement Systems increased its stake in CAVA Group by 2.5% in the 4th quarter. Utah Retirement Systems now owns 4,100 shares of the company's stock valued at $462,000 after buying an additional 100 shares during the period. Whittier Trust Co. increased its position in CAVA Group by 80.9% during 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 period. Mainstream Capital Management LLC raised its stake in shares of CAVA Group by 0.7% during the 4th quarter. Mainstream Capital Management LLC now owns 17,758 shares of the company's stock worth $2,003,000 after buying an additional 132 shares in the last quarter. Centurion Wealth Management LLC grew its stake in shares of CAVA Group by 8.8% during the 4th quarter. Centurion Wealth Management LLC now owns 1,913 shares of the company's stock worth $216,000 after purchasing an additional 154 shares during the period. Finally, Kovitz Investment Group Partners LLC raised its holdings in CAVA Group by 7.0% during the fourth quarter. Kovitz Investment Group Partners LLC now owns 2,435 shares of the company's stock worth $275,000 after purchasing an additional 159 shares during the last quarter. 73.15% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on CAVA. Bank of America lifted their target price on shares of CAVA Group from $112.00 to $121.00 and gave the stock a "buy" rating in a research report on Monday, May 19th. Sanford C. Bernstein upgraded CAVA Group from a "market perform" rating to an "outperform" rating and set a $115.00 target price on the stock in a report on Wednesday, April 23rd. Piper Sandler raised CAVA Group from a "neutral" rating to an "overweight" rating and cut their price target for the stock from $142.00 to $115.00 in a report on Friday, February 28th. William Blair reiterated an "outperform" rating on shares of CAVA Group in a research report on Wednesday, February 26th. Finally, Barclays reduced their target price on shares of CAVA Group from $104.00 to $90.00 and set an "equal weight" rating on the stock in a report on Tuesday, April 22nd. Five equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat, CAVA Group presently has a consensus rating of "Moderate Buy" and an average target price of $123.00.

Insider Transactions at CAVA Group

In other CAVA Group news, insider Theodoros Xenohristos sold 9,348 shares of the firm'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 completion of the sale, the insider now owns 353,271 shares in the company, valued at $33,518,352.48. This trade represents a 2.58% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Kelly Costanza sold 10,243 shares of the company's stock in a transaction that occurred on Wednesday, May 21st. The shares were 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 in the company, valued at approximately $10,858,810.61. The trade was a 7.55% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 6.80% of the company's stock.

CAVA Group Stock Down 1.8%

Shares of CAVA Group stock traded down $1.46 during trading hours on Friday, hitting $80.42. The company's stock had a trading volume of 1,535,512 shares, compared to its average volume of 3,141,038. The business has a fifty day moving average of $88.69 and a 200 day moving average of $108.61. CAVA Group, Inc. has a 1-year low of $70.00 and a 1-year high of $172.43. The company has a market capitalization of $9.30 billion, a PE ratio of 174.47 and a beta of 3.28.

CAVA Group (NYSE:CAVA - Get Free Report) last released its quarterly earnings results on Thursday, May 15th. The company reported $0.22 earnings per share for the quarter, beating analysts' consensus estimates of $0.14 by $0.08. CAVA Group had a net margin of 5.88% and a return on equity of 9.10%. The business had revenue of $331.83 million during the quarter, compared to analyst estimates of $327.98 million. During the same period last year, the business earned $0.12 EPS. The business's revenue was up 28.1% on a year-over-year basis. On average, sell-side analysts anticipate that CAVA Group, Inc. will post 0.5 earnings per share for the current fiscal 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.