Teachers Retirement System of The State of Kentucky acquired a new stake in CAVA Group, Inc. (NYSE:CAVA - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 24,500 shares of the company's stock, valued at approximately $2,117,000.
A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Jennison Associates LLC increased its holdings in CAVA Group by 246.1% in the 1st quarter. Jennison Associates LLC now owns 8,519,459 shares of the company's stock worth $736,166,000 after purchasing an additional 6,057,727 shares in the last quarter. Vanguard Group Inc. lifted its position in shares of CAVA Group by 20.4% in the 4th quarter. Vanguard Group Inc. now owns 8,011,602 shares of the company's stock worth $903,709,000 after purchasing an additional 1,357,187 shares during the period. Man Group plc lifted its holdings in CAVA Group by 563.7% in the fourth 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 period. Barclays PLC boosted its position in CAVA Group by 116.7% during the fourth 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 last quarter. Finally, Norges Bank acquired a new position in shares of CAVA Group in the 4th quarter valued at about $64,538,000. Institutional investors and hedge funds own 73.15% of the company's stock.
CAVA Group Stock Down 5.7%
NYSE CAVA traded down $5.27 during trading on Thursday, hitting $86.43. The stock had a trading volume of 5,279,259 shares, compared to its average volume of 4,072,750. The company has a market capitalization of $10.00 billion, a PE ratio of 72.02, a PEG ratio of 4.58 and a beta of 2.65. CAVA Group, Inc. has a twelve month low of $70.00 and a twelve month high of $172.43. The firm has a 50 day moving average price of $83.17 and a 200 day moving average price of $95.42.
CAVA Group (NYSE:CAVA - Get Free Report) last announced its quarterly earnings data on Thursday, May 15th. The company reported $0.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.14 by $0.08. The business 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 10.61% and a net margin of 13.70%. The business's quarterly revenue was up 28.1% compared to the same quarter last year. During the same quarter last year, the business posted $0.12 EPS. On average, sell-side analysts anticipate that CAVA Group, Inc. will post 0.5 earnings per share for the current year.
Analyst Upgrades and Downgrades
A number of equities analysts have issued reports on CAVA shares. Sanford C. Bernstein raised shares of CAVA Group from a "market perform" rating to an "outperform" rating and set a $115.00 price objective on the stock in a report on Wednesday, April 23rd. Bank of America lifted their target price on CAVA Group from $112.00 to $121.00 and gave the company a "buy" rating in a report on Monday, May 19th. Robert W. Baird upped their target price 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. Barclays boosted their price target on shares of CAVA Group from $90.00 to $91.00 and gave the company an "equal weight" rating in a research report on Thursday, July 17th. Finally, UBS Group dropped their price objective on CAVA Group from $125.00 to $112.00 and set a "neutral" rating for the company in a research note on Tuesday, May 13th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, CAVA Group presently has a consensus rating of "Moderate Buy" and an average target price of $115.06.
Check Out Our Latest Stock Report on CAVA Group
Insiders Place Their Bets
In other CAVA Group news, CFO Tricia K. Tolivar sold 4,845 shares of the firm's stock in a transaction on Monday, June 16th. The shares were sold at an average price of $75.16, for a total transaction of $364,150.20. Following the transaction, the chief financial officer directly owned 236,345 shares of the company's stock, valued at approximately $17,763,690.20. This trade represents a 2.01% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Jennifer Somers sold 2,861 shares of the company's stock in a transaction that occurred on Monday, June 16th. The stock was sold at an average price of $75.16, for a total value of $215,032.76. Following the sale, the insider owned 137,048 shares of the company's stock, valued at $10,300,527.68. This trade represents a 2.04% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 67,951 shares of company stock worth $5,409,027. Corporate insiders own 6.80% of the company's stock.
About CAVA Group
(
Free Report)
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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