Teacher Retirement System of Texas Increases Stock Position in CAVA Group, Inc. (NYSE:CAVA)

Teacher Retirement System of Texas boosted its position in shares of CAVA Group, Inc. (NYSE:CAVA - Free Report) by 284.2% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 12,530 shares of the company's stock after buying an additional 9,269 shares during the quarter. Teacher Retirement System of Texas' holdings in CAVA Group were worth $1,083,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in CAVA. Vanguard Group Inc. raised its holdings in CAVA Group by 20.4% during the 4th quarter. Vanguard Group Inc. now owns 8,011,602 shares of the company's stock valued at $903,709,000 after buying an additional 1,357,187 shares during the last quarter. Man Group plc raised its holdings in CAVA Group by 563.7% during the 4th quarter. Man Group plc now owns 935,075 shares of the company's stock valued at $105,476,000 after buying an additional 794,187 shares during the last quarter. Barclays PLC raised its holdings in CAVA Group by 116.7% during the 4th quarter. Barclays PLC now owns 84,755 shares of the company's stock valued at $9,560,000 after buying an additional 591,866 shares during the last quarter. Norges Bank bought a new stake in CAVA Group during the 4th quarter valued at $64,538,000. Finally, Canada Pension Plan Investment Board raised its holdings in CAVA Group by 393.2% during the 4th quarter. Canada Pension Plan Investment Board now owns 628,300 shares of the company's stock valued at $70,872,000 after buying an additional 500,900 shares during the last quarter. 73.15% of the stock is currently owned by institutional investors.

Insider Activity at CAVA Group

In related news, CFO Tricia K. Tolivar sold 4,845 shares of the stock in a transaction dated Monday, June 16th. The shares were sold at an average price of $75.16, for a total transaction of $364,150.20. Following the sale, the chief financial officer directly owned 236,345 shares of the company's stock, valued at approximately $17,763,690.20. This represents a 2.01% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Theodoros Xenohristos sold 3,062 shares of the stock in a transaction dated Monday, June 16th. The shares were sold at an average price of $75.16, for a total transaction of $230,139.92. Following the sale, the insider directly owned 350,209 shares in the company, valued at $26,321,708.44. This trade represents a 0.87% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 67,951 shares of company stock worth $5,409,027 in the last ninety days. 6.80% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on CAVA shares. Morgan Stanley set a $107.00 price target on shares of CAVA Group and gave the company an "equal weight" rating in a report on Monday. Robert W. Baird upped their price objective on shares of CAVA Group from $105.00 to $115.00 and gave the stock an "outperform" rating in a report on Friday, May 16th. KeyCorp initiated coverage on shares of CAVA Group in a report on Wednesday, July 2nd. They issued an "overweight" rating and a $100.00 price objective for the company. Barclays upped their price objective on shares of CAVA Group from $90.00 to $91.00 and gave the stock an "equal weight" rating in a report on Thursday. Finally, Melius initiated coverage on shares of CAVA Group in a report on Monday. They issued a "hold" rating and a $95.00 price objective for the company. One analyst has rated the stock with a sell rating, six have assigned a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $115.06.

CAVA Group Stock Down 2.3%

Shares of NYSE:CAVA traded down $2.01 during midday trading on Thursday, reaching $86.97. The company's stock had a trading volume of 6,610,384 shares, compared to its average volume of 3,247,530. The firm has a 50 day moving average of $83.87 and a 200-day moving average of $96.10. The firm has a market capitalization of $10.06 billion, a P/E ratio of 72.48, a PEG ratio of 4.19 and a beta of 2.65. CAVA Group, Inc. has a 12-month low of $70.00 and a 12-month high of $172.43.

CAVA Group (NYSE:CAVA - Get Free Report) last announced its quarterly earnings data on Thursday, May 15th. The company reported $0.22 EPS for the quarter, beating the consensus estimate of $0.14 by $0.08. CAVA Group had a net margin of 13.70% and a return on equity of 10.61%. The company had revenue of $331.83 million for the quarter, compared to the consensus estimate of $327.98 million. During the same period in the prior year, the firm posted $0.12 EPS. CAVA Group's revenue for the quarter was up 28.1% on a year-over-year basis. On average, research analysts predict 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.