Swiss National Bank Raises Stock Position in CAVA Group, Inc. (NYSE:CAVA)

Key Points

• The Swiss National Bank increased its stake in CAVA Group, Inc. by 5.7%, holding 166,400 shares valued at approximately $14.38 million as of the recent SEC filing.
• Several hedge funds significantly raised their positions in CAVA, with Jennison Associates LLC increasing its stake by 246.1% and Vanguard Group by 13.2% during the first quarter.
• Equities analysts have adjusted their price targets for CAVA Group, with KeyCorp lowering their target from $100 to $85, while TD Securities reaffirmed a buy rating with a target of $120.

Swiss National Bank grew its holdings in CAVA Group, Inc. (NYSE:CAVA - Free Report) by 5.7% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 166,400 shares of the company's stock after acquiring an additional 9,000 shares during the period. Swiss National Bank owned about 0.14% of CAVA Group worth $14,379,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in CAVA. Jennison Associates LLC raised its stake in shares of CAVA Group by 246.1% in the 1st quarter. Jennison Associates LLC now owns 8,519,459 shares of the company's stock valued at $736,166,000 after acquiring an additional 6,057,727 shares during the period. Vanguard Group Inc. raised its stake in shares of CAVA Group by 13.2% in the 1st quarter. Vanguard Group Inc. now owns 9,065,782 shares of the company's stock valued at $783,374,000 after acquiring an additional 1,054,180 shares during the period. Man Group plc raised its stake in shares of CAVA Group by 563.7% in the 4th 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 during the period. Barclays PLC raised its stake in shares of CAVA Group by 116.7% in the 4th quarter. Barclays PLC now owns 84,755 shares of the company's stock valued at $9,560,000 after acquiring an additional 591,866 shares during the period. Finally, Canada Pension Plan Investment Board raised its stake in shares of CAVA Group by 393.2% in the 4th quarter. Canada Pension Plan Investment Board now owns 628,300 shares of the company's stock valued at $70,872,000 after acquiring an additional 500,900 shares during the period. Hedge funds and other institutional investors own 73.15% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the stock. KeyCorp dropped their price target on shares of CAVA Group from $100.00 to $85.00 and set an "overweight" rating on the stock in a research note on Wednesday. Barclays dropped their price target on shares of CAVA Group from $91.00 to $74.00 and set an "equal weight" rating on the stock in a research note on Wednesday. TD Cowen dropped their price target on shares of CAVA Group from $120.00 to $90.00 and set a "buy" rating on the stock in a research note on Wednesday. UBS Group dropped their price target on shares of CAVA Group from $96.00 to $75.00 and set a "neutral" rating on the stock in a research note on Wednesday. Finally, TD Securities reaffirmed a "buy" rating and set a $120.00 price target on shares of CAVA Group in a research note on Friday, May 16th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and twelve have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $100.44.

Insiders Place Their Bets

In other news, CFO Tricia K. Tolivar sold 4,845 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 value of $364,150.20. Following the completion of the transaction, the chief financial officer directly owned 236,345 shares of the company's stock, valued at approximately $17,763,690.20. The trade was a 2.01% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Brett Schulman sold 31,856 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 $2,394,296.96. Following the completion of the sale, the chief executive officer owned 792,318 shares in the company, valued at approximately $59,550,620.88. This represents a 3.87% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 58,603 shares of company stock worth $4,522,089. Corporate insiders own 6.80% of the company's stock.

CAVA Group Stock Performance

NYSE CAVA opened at $70.31 on Thursday. CAVA Group, Inc. has a one year low of $65.70 and a one year high of $172.43. The company has a 50-day simple moving average of $83.23 and a 200-day simple moving average of $92.14. The firm has a market capitalization of $8.13 billion, a PE ratio of 59.08, a price-to-earnings-growth ratio of 4.22 and a beta of 2.65.

CAVA Group (NYSE:CAVA - Get Free Report) last posted its quarterly earnings results on Tuesday, August 12th. The company reported $0.16 EPS for the quarter, beating the consensus estimate of $0.13 by $0.03. CAVA Group had a net margin of 12.98% and a return on equity of 10.09%. The business had revenue of $280.62 million during the quarter, compared to analyst estimates of $285.65 million. During the same period in the previous year, the business posted $0.17 EPS. The company's quarterly revenue was up 20.2% on a year-over-year basis. Equities analysts forecast that CAVA Group, Inc. will post 0.5 earnings per share for the current year.

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.

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