Vanguard Group Inc. Has $783.37 Million Position in CAVA Group, Inc. (NYSE:CAVA)

Key Points

• Vanguard Group Inc. has increased its holdings in CAVA Group, Inc. by 13.2%, now owning approximately $783 million worth of shares, representing around 7.84% of the company.
• CAVA Group's recent earnings report showed an EPS of $0.16, beating estimates, but revenue of $280.62 million fell short of the expected $285.65 million.
• Analysts have mixed views on CAVA Group, with target prices ranging from $112 to $196, while the stock has seen institutional ownership rise to 73.15%.

Vanguard Group Inc. boosted its stake in CAVA Group, Inc. (NYSE:CAVA - Free Report) by 13.2% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 9,065,782 shares of the company's stock after acquiring an additional 1,054,180 shares during the quarter. Vanguard Group Inc. owned 7.84% of CAVA Group worth $783,374,000 as of its most recent filing with the SEC.

Other institutional investors have also recently added to or reduced their stakes in the company. Envestnet Asset Management Inc. lifted its holdings in CAVA Group by 20.8% in the 4th quarter. Envestnet Asset Management Inc. now owns 10,871 shares of the company's stock valued at $1,226,000 after purchasing an additional 1,874 shares in the last quarter. Cerity Partners LLC lifted its holdings in CAVA Group by 32.9% in the 4th quarter. Cerity Partners LLC now owns 15,299 shares of the company's stock valued at $1,730,000 after purchasing an additional 3,791 shares in the last quarter. Legal & General Group Plc lifted its holdings in CAVA Group by 23.7% in the 4th quarter. Legal & General Group Plc now owns 90,002 shares of the company's stock valued at $10,152,000 after purchasing an additional 17,254 shares in the last quarter. Treasurer of the State of North Carolina lifted its holdings in CAVA Group by 0.6% in the 4th quarter. Treasurer of the State of North Carolina now owns 33,176 shares of the company's stock valued at $3,742,000 after purchasing an additional 210 shares in the last quarter. Finally, Barclays PLC raised its holdings in shares of CAVA Group by 116.7% during the 4th quarter. Barclays PLC now owns 84,755 shares of the company's stock worth $9,560,000 after acquiring an additional 591,866 shares during the period. Institutional investors and hedge funds own 73.15% of the company's stock.

Insider Buying and Selling

In other CAVA Group news, insider Jennifer Somers sold 2,861 shares of the business's stock in a transaction on Monday, June 16th. The stock was sold at an average price of $75.16, for a total transaction of $215,032.76. Following the completion of the transaction, the insider owned 137,048 shares in the company, valued at approximately $10,300,527.68. The trade was a 2.04% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Theodoros Xenohristos sold 3,062 shares of the business's stock in a transaction on Monday, June 16th. The stock was sold at an average price of $75.16, for a total value of $230,139.92. Following the transaction, the insider owned 350,209 shares of the company's stock, valued at $26,321,708.44. This trade represents a 0.87% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 58,603 shares of company stock worth $4,522,089. 6.80% of the stock is currently owned by insiders.

CAVA Group Stock Performance

Shares of NYSE:CAVA traded up $0.83 during mid-day trading on Friday, hitting $69.76. 4,820,851 shares of the company traded hands, compared to its average volume of 3,860,803. The firm has a market cap of $8.07 billion, a P/E ratio of 58.62, a PEG ratio of 3.58 and a beta of 2.65. CAVA Group, Inc. has a 52-week low of $65.70 and a 52-week high of $172.43. The firm's 50 day simple moving average is $83.04 and its 200 day simple moving average is $91.77.

CAVA Group (NYSE:CAVA - Get Free Report) last posted its quarterly earnings data on Tuesday, August 12th. The company reported $0.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.13 by $0.03. CAVA Group had a return on equity of 9.83% and a net margin of 12.98%. The company had revenue of $280.62 million for the quarter, compared to the consensus estimate of $285.65 million. During the same period in the previous year, the business earned $0.17 EPS. CAVA Group's revenue for the quarter was up 20.2% compared to the same quarter last year. Equities research analysts expect that CAVA Group, Inc. will post 0.5 EPS for the current fiscal year.

Wall Street Analyst Weigh In

CAVA has been the topic of several analyst reports. Morgan Stanley reduced their price target on CAVA Group from $107.00 to $97.00 and set an "equal weight" rating on the stock in a report on Wednesday. Piper Sandler reduced their price target on CAVA Group from $122.00 to $100.00 and set an "overweight" rating on the stock in a report on Wednesday. Barclays reduced their price target on CAVA Group from $91.00 to $74.00 and set an "equal weight" rating on the stock in a report on Wednesday. Citigroup cut their price objective on CAVA Group from $102.00 to $88.00 and set a "neutral" rating for the company in a research report on Wednesday. Finally, KeyCorp set a $85.00 price objective on shares of CAVA Group and gave the company an "overweight" rating in a report on Wednesday. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $100.44.

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.