CAVA Group, Inc. (NYSE:CAVA) Stake Boosted by Jennison Associates LLC

Jennison Associates LLC lifted its stake in shares of CAVA Group, Inc. (NYSE:CAVA - Free Report) by 36,658.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,461,732 shares of the company's stock after buying an additional 2,455,035 shares during the quarter. Jennison Associates LLC owned approximately 2.15% of CAVA Group worth $277,683,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also made changes to their positions in the company. GAMMA Investing LLC lifted its stake in CAVA Group by 68.3% during the third quarter. GAMMA Investing LLC now owns 308 shares of the company's stock worth $38,000 after purchasing an additional 125 shares during the last quarter. R Squared Ltd bought a new position in CAVA Group during the fourth quarter worth $49,000. Sunbelt Securities Inc. bought a new position in CAVA Group during the third quarter worth $50,000. Burkett Financial Services LLC bought a new position in CAVA Group during the fourth quarter worth $56,000. Finally, Geneos Wealth Management Inc. bought a new position in CAVA Group during the fourth quarter worth $63,000. Institutional investors and hedge funds own 73.15% of the company's stock.

Analysts Set New Price Targets

Several equities analysts recently issued reports on CAVA shares. William Blair restated an "outperform" rating on shares of CAVA Group in a research note on Wednesday, November 13th. Morgan Stanley raised their target price on CAVA Group from $123.00 to $135.00 and gave the company an "equal weight" rating in a research note on Thursday, November 14th. Robert W. Baird raised their target price on CAVA Group from $125.00 to $148.00 and gave the company an "outperform" rating in a research note on Monday, November 4th. Wedbush raised their target price on CAVA Group from $155.00 to $190.00 and gave the company an "outperform" rating in a research note on Wednesday, November 13th. Finally, Loop Capital raised their target price on CAVA Group from $122.00 to $147.00 and gave the company a "hold" rating in a research note on Thursday, November 14th. Eight research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $142.13.

Insider Buying and Selling

In related news, Director Ronald M. Shaich sold 622,549 shares of CAVA Group stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $149.40, for a total transaction of $93,008,820.60. Following the transaction, the director now directly owns 6,307 shares of the company's stock, valued at $942,265.80. The trade was a 99.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Kenneth Robert Bertram sold 678 shares of CAVA Group stock in a transaction dated Monday, January 27th. The stock was sold at an average price of $124.39, for a total value of $84,336.42. Following the transaction, the insider now directly owns 57,312 shares in the company, valued at approximately $7,129,039.68. The trade was a 1.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 681,784 shares of company stock valued at $100,756,372 over the last three months. Company insiders own 12.10% of the company's stock.

CAVA Group Price Performance

Shares of CAVA traded down $1.01 during trading hours on Thursday, reaching $141.89. 1,185,902 shares of the company's stock traded hands, compared to its average volume of 2,044,820. The firm has a market capitalization of $16.26 billion, a price-to-earnings ratio of 308.46 and a beta of 3.25. CAVA Group, Inc. has a twelve month low of $48.10 and a twelve month high of $172.43. The business's fifty day simple moving average is $124.97 and its two-hundred day simple moving average is $121.41.

CAVA Group (NYSE:CAVA - Get Free Report) last released its earnings results on Tuesday, November 12th. The company reported $0.15 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.11 by $0.04. The firm had revenue of $243.82 million for the quarter, compared to analyst estimates of $233.05 million. CAVA Group had a return on equity of 9.10% and a net margin of 5.88%. CAVA Group's revenue was up 38.9% compared to the same quarter last year. During the same period in the previous year, the company earned $0.06 earnings per share. On average, equities research analysts expect 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.