Worldquant Millennium Advisors LLC Acquires New Stake in CAVA Group, Inc. (NYSE:CAVA)

Worldquant Millennium Advisors LLC purchased a new position in CAVA Group, Inc. (NYSE:CAVA - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 8,929 shares of the company's stock, valued at approximately $1,007,000.

Several other institutional investors have also recently added to or reduced their stakes in CAVA. Jennison Associates LLC boosted its holdings in CAVA Group by 36,658.7% in the fourth quarter. Jennison Associates LLC now owns 2,461,732 shares of the company's stock valued at $277,683,000 after purchasing an additional 2,455,035 shares during the last quarter. Vanguard Group Inc. lifted 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 worth $903,709,000 after buying an additional 1,357,187 shares during the last quarter. Man Group plc lifted 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 worth $105,476,000 after buying an additional 794,187 shares during the last quarter. Barclays PLC lifted its holdings in 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 buying an additional 591,866 shares during the last quarter. Finally, Norges Bank bought a new position in CAVA Group during the 4th quarter worth approximately $64,538,000. 73.15% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, insider Theodoros Xenohristos sold 9,348 shares of the business's stock in a transaction that occurred on Friday, May 9th. The stock was sold at an average price of $94.88, for a total value of $886,938.24. Following the completion of the sale, the insider now directly owns 353,271 shares in the company, valued at approximately $33,518,352.48. The trade was a 2.58% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Kelly Costanza sold 10,243 shares of the business's stock in a transaction that occurred on Wednesday, May 21st. The shares were sold at an average price of $86.63, for a total transaction of $887,351.09. Following the transaction, the insider now owns 125,347 shares of the company's stock, valued at approximately $10,858,810.61. This represents a 7.55% decrease in their ownership of the stock. The disclosure for this sale can be found here. 6.80% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research firms have commented on CAVA. TD Securities reaffirmed a "buy" rating and set a $120.00 target price on shares of CAVA Group in a report on Friday, May 16th. Robert W. Baird lifted their price target on CAVA Group from $105.00 to $115.00 and gave the company an "outperform" rating in a report on Friday, May 16th. UBS Group lowered their price target on CAVA Group from $125.00 to $112.00 and set a "neutral" rating on the stock in a report on Tuesday, May 13th. Barclays lowered their price target on CAVA Group from $104.00 to $90.00 and set an "equal weight" rating on the stock in a report on Tuesday, April 22nd. Finally, JPMorgan Chase & Co. raised CAVA Group from a "neutral" rating to an "overweight" rating and set a $110.00 price objective for the company in a research report on Thursday, March 20th. Five research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $123.00.

CAVA Group Trading Up 0.3%

Shares of NYSE:CAVA traded up $0.24 during midday trading on Wednesday, hitting $82.58. The company had a trading volume of 816,637 shares, compared to its average volume of 3,208,002. CAVA Group, Inc. has a 12 month low of $70.00 and a 12 month high of $172.43. The stock has a market cap of $9.55 billion, a price-to-earnings ratio of 179.52 and a beta of 3.28. The firm has a fifty day simple moving average of $88.89 and a 200 day simple moving average of $109.25.

CAVA Group (NYSE:CAVA - Get Free Report) last issued its quarterly earnings data on Thursday, May 15th. The company reported $0.22 EPS for the quarter, topping the consensus estimate of $0.14 by $0.08. The business had revenue of $331.83 million for the quarter, compared to the consensus estimate of $327.98 million. CAVA Group had a return on equity of 9.10% and a net margin of 5.88%. The firm's revenue was up 28.1% compared to the same quarter last year. During the same quarter last year, the business posted $0.12 EPS. Equities analysts forecast 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.