Man Group plc Has $105.48 Million Holdings in CAVA Group, Inc. (NYSE:CAVA)

Man Group plc lifted its holdings in shares of CAVA Group, Inc. (NYSE:CAVA - Free Report) by 563.7% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 935,075 shares of the company's stock after buying an additional 794,187 shares during the period. Man Group plc owned 0.82% of CAVA Group worth $105,476,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of CAVA. GAMMA Investing LLC grew its position in shares of CAVA Group by 37.0% during the 4th quarter. GAMMA Investing LLC now owns 422 shares of the company's stock valued at $48,000 after buying an additional 114 shares during the last quarter. Brookstone Capital Management boosted its stake in CAVA Group by 21.6% during the 4th quarter. Brookstone Capital Management now owns 11,187 shares of the company's stock valued at $1,262,000 after purchasing an additional 1,985 shares during the period. Miracle Mile Advisors LLC boosted its stake in CAVA Group by 2.1% during the 4th quarter. Miracle Mile Advisors LLC now owns 8,097 shares of the company's stock valued at $913,000 after purchasing an additional 170 shares during the period. Tsfg LLC boosted its stake in CAVA Group by 250.0% during the 4th quarter. Tsfg LLC now owns 770 shares of the company's stock valued at $87,000 after purchasing an additional 550 shares during the period. Finally, PSI Advisors LLC boosted its stake in CAVA Group by 11.3% during the 4th quarter. PSI Advisors LLC now owns 1,473 shares of the company's stock valued at $166,000 after purchasing an additional 150 shares during the period. Institutional investors own 73.15% of the company's stock.

Insider Activity at CAVA Group

In related news, insider Theodoros Xenohristos sold 9,348 shares of the stock in a transaction that occurred on Friday, May 9th. The shares were sold at an average price of $94.88, for a total transaction of $886,938.24. Following the completion of the sale, the insider now directly owns 353,271 shares of the company's stock, valued at $33,518,352.48. This represents a 2.58% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 6.80% of the company's stock.

CAVA Group Trading Down 2.1%

CAVA stock traded down $2.03 on Friday, hitting $97.03. 9,780,331 shares of the company's stock traded hands, compared to its average volume of 3,164,491. CAVA Group, Inc. has a 1-year low of $70.00 and a 1-year high of $172.43. The stock has a market cap of $11.22 billion, a price-to-earnings ratio of 210.93 and a beta of 3.28. The stock has a fifty day moving average of $88.07 and a 200-day moving average of $111.91.

CAVA Group (NYSE:CAVA - Get Free Report) last released its earnings results 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 5.88% and a return on equity of 9.10%. The business had revenue of $331.83 million during the quarter, compared to analyst estimates of $327.98 million. During the same period in the prior year, the business earned $0.12 earnings per share. The business's quarterly revenue was up 28.1% on a year-over-year basis. On average, equities research analysts anticipate that CAVA Group, Inc. will post 0.5 earnings per share for the current fiscal year.

Analysts Set New Price Targets

CAVA has been the subject of a number of analyst reports. Loop Capital reduced their target price on shares of CAVA Group from $147.00 to $100.00 and set a "hold" rating for the company in a research note on Thursday, February 27th. UBS Group reduced their target price on shares of CAVA Group from $125.00 to $112.00 and set a "neutral" rating for the company in a research note on Tuesday. Piper Sandler raised shares of CAVA Group from a "neutral" rating to an "overweight" rating and reduced their target price for the company from $142.00 to $115.00 in a research note on Friday, February 28th. Sanford C. Bernstein raised shares of CAVA Group from a "market perform" rating to an "outperform" rating and set a $115.00 target price for the company in a research note on Wednesday, April 23rd. Finally, Barclays reduced their target price on shares of CAVA Group from $104.00 to $90.00 and set an "equal weight" rating for the company in a research note on Tuesday, April 22nd. Five analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $122.44.

About CAVA Group

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.