CAVA Group, Inc. $CAVA Stake Lessened by T. Rowe Price Investment Management Inc.

Key Points

• T. Rowe Price Investment Management Inc. sold 10,708 shares of CAVA Group, Inc., reducing its stake by 12.5% to own 74,784 shares valued at approximately $6.46 million.
• Despite T. Rowe's sell-off, several institutional investors increased their holdings in CAVA Group, with Dimensional Fund Advisors LP boosting its stake by 43.2% in the fourth quarter.
• Research firms have given mixed reactions, with Cfra Research upgrading CAVA Group to a "strong-buy" rating, while others like UBS Group lowered their target price from $96.00 to $75.00.

T. Rowe Price Investment Management Inc. decreased its holdings in CAVA Group, Inc. (NYSE:CAVA - Free Report) by 12.5% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 74,784 shares of the company's stock after selling 10,708 shares during the quarter. T. Rowe Price Investment Management Inc. owned 0.06% of CAVA Group worth $6,463,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently modified their holdings of the company. Utah Retirement Systems increased its holdings in shares of CAVA Group by 2.5% during the 4th quarter. Utah Retirement Systems now owns 4,100 shares of the company's stock valued at $462,000 after acquiring an additional 100 shares during the last quarter. Whittier Trust Co. of Nevada Inc. lifted its position in shares of CAVA Group by 37.3% during the 1st quarter. Whittier Trust Co. of Nevada Inc. now owns 530 shares of the company's stock worth $46,000 after buying an additional 144 shares during the period. Miracle Mile Advisors LLC raised its position in CAVA Group by 1.9% in the 1st quarter. Miracle Mile Advisors LLC now owns 8,247 shares of the company's stock valued at $713,000 after purchasing an additional 150 shares during the last quarter. Kovitz Investment Group Partners LLC raised its position in shares of 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 acquiring an additional 159 shares during the last quarter. Finally, Regent Peak Wealth Advisors LLC raised its position in shares of CAVA Group by 6.2% during the first quarter. Regent Peak Wealth Advisors LLC now owns 3,166 shares of the company's stock worth $274,000 after acquiring an additional 186 shares during the last quarter. Institutional investors own 73.15% of the company's stock.

Analyst Ratings Changes

CAVA has been the subject of a number of research analyst reports. Sanford C. Bernstein set a $74.00 target price on CAVA Group in a research note on Wednesday, August 13th. TD Cowen dropped their price target on CAVA Group from $120.00 to $90.00 and set a "buy" rating for the company in a research note on Wednesday, August 13th. Robert W. Baird set a $95.00 target price on CAVA Group in a research report on Wednesday, August 13th. Stifel Nicolaus decreased their target price on CAVA Group from $175.00 to $125.00 and set a "buy" rating for the company in a research report on Wednesday, June 18th. Finally, TD Securities restated a "buy" rating and issued a $120.00 target price on shares of CAVA Group in a research note on Friday, May 16th. One analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and seven have given a Hold rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $99.47.

Insiders Place Their Bets

In other news, insider Theodoros Xenohristos sold 3,062 shares of the firm's stock in a transaction dated Monday, June 16th. The shares were sold at an average price of $75.16, for a total value of $230,139.92. Following the transaction, the insider directly owned 350,209 shares of the company's stock, valued at approximately $26,321,708.44. This trade represents a 0.87% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO Brett Schulman sold 31,856 shares of the business's stock in a transaction that occurred on 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 directly owned 792,318 shares in the company, valued at $59,550,620.88. This trade represents a 3.87% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 48,360 shares of company stock valued at $3,634,738. 6.80% of the stock is owned by company insiders.

CAVA Group Stock Performance

Shares of CAVA Group stock traded down $0.82 on Friday, hitting $67.39. 2,015,060 shares of the company's stock were exchanged, compared to its average volume of 3,836,794. The stock has a market capitalization of $7.81 billion, a PE ratio of 56.60, a PEG ratio of 3.39 and a beta of 2.65. CAVA Group, Inc. has a 1 year low of $65.03 and a 1 year high of $172.43. The company has a 50-day simple moving average of $81.39 and a 200-day simple moving average of $86.96.

CAVA Group (NYSE:CAVA - Get Free Report) last posted its 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. The firm had revenue of $280.62 million for the quarter, compared to the consensus estimate of $285.65 million. CAVA Group had a net margin of 12.98% and a return on equity of 9.83%. The business's quarterly revenue was up 20.2% on a year-over-year basis. During the same period in the previous year, the firm posted $0.17 EPS. On average, analysts expect that CAVA Group, Inc. will post 0.5 EPS for the current fiscal 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.