Federated Hermes Inc. Has $24.29 Million Stock Holdings in CAVA Group, Inc. (NYSE:CAVA)

Federated Hermes Inc. lifted its stake in shares of CAVA Group, Inc. (NYSE:CAVA - Free Report) by 25.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 565,054 shares of the company's stock after acquiring an additional 115,054 shares during the quarter. Federated Hermes Inc. owned about 0.50% of CAVA Group worth $24,286,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in CAVA. FMR LLC grew its position in CAVA Group by 92.1% in the third quarter. FMR LLC now owns 1,138,113 shares of the company's stock worth $34,860,000 after buying an additional 545,799 shares during the last quarter. Jennison Associates LLC grew its position in CAVA Group by 47.4% in the third quarter. Jennison Associates LLC now owns 979,864 shares of the company's stock worth $30,013,000 after buying an additional 314,924 shares during the last quarter. Lord Abbett & CO. LLC grew its position in CAVA Group by 45.2% in the third quarter. Lord Abbett & CO. LLC now owns 768,693 shares of the company's stock worth $23,545,000 after buying an additional 239,471 shares during the last quarter. Vanguard Group Inc. grew its position in CAVA Group by 15.5% in the third quarter. Vanguard Group Inc. now owns 1,460,824 shares of the company's stock worth $44,745,000 after buying an additional 196,019 shares during the last quarter. Finally, Cadian Capital Management LP acquired a new position in CAVA Group in the third quarter worth approximately $4,594,000. Institutional investors and hedge funds own 73.15% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on CAVA shares. JPMorgan Chase & Co. lifted their price target on shares of CAVA Group from $50.00 to $64.00 and gave the stock an "overweight" rating in a research report on Tuesday, March 19th. Robert W. Baird lifted their price objective on shares of CAVA Group from $54.00 to $62.00 and gave the stock an "outperform" rating in a research report on Thursday, February 15th. Morgan Stanley lifted their price objective on shares of CAVA Group from $62.00 to $68.00 and gave the stock an "overweight" rating in a research report on Friday, April 12th. Piper Sandler lifted their price objective on shares of CAVA Group from $46.00 to $63.00 and gave the stock an "overweight" rating in a research report on Wednesday, February 28th. Finally, Barclays assumed coverage on shares of CAVA Group in a research report on Monday, April 15th. They set an "equal weight" rating and a $58.00 price objective on the stock. Four analysts have rated the stock with a hold rating and ten have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $60.42.

CAVA Group Stock Down 0.2 %

Shares of CAVA stock traded down $0.09 on Monday, hitting $59.58. The company's stock had a trading volume of 1,434,109 shares, compared to its average volume of 2,203,615. CAVA Group, Inc. has a fifty-two week low of $29.05 and a fifty-two week high of $71.60. The firm's fifty day moving average price is $61.26 and its 200-day moving average price is $46.59.

CAVA Group (NYSE:CAVA - Get Free Report) last released its quarterly earnings data on Monday, February 26th. The company reported $0.02 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.01 by $0.01. CAVA Group had a net margin of 1.82% and a return on equity of 4.28%. The business had revenue of $175.50 million during the quarter, compared to analyst estimates of $240.03 million. The business's revenue was up 52.6% on a year-over-year basis. Sell-side analysts anticipate that CAVA Group, Inc. will post 0.25 EPS for the current fiscal year.

Insider Activity at CAVA Group

In other CAVA Group news, Director International S.C.A. Artal sold 2,000,000 shares of the business's stock in a transaction on Thursday, March 21st. The shares were sold at an average price of $66.25, for a total transaction of $132,500,000.00. Following the completion of the transaction, the director now owns 26,507,990 shares of the company's stock, valued at approximately $1,756,154,337.50. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other CAVA Group news, Director International S.C.A. Artal sold 2,000,000 shares of the business's stock in a transaction on Thursday, March 21st. The shares were sold at an average price of $66.25, for a total transaction of $132,500,000.00. Following the completion of the transaction, the director now owns 26,507,990 shares of the company's stock, valued at approximately $1,756,154,337.50. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, major shareholder Ronald M. Shaich sold 1,500,000 shares of the business's stock in a transaction on Monday, March 4th. The stock was sold at an average price of $57.20, for a total transaction of $85,800,000.00. Following the transaction, the insider now directly owns 4,457,634 shares of the company's stock, valued at approximately $254,976,664.80. The disclosure for this sale can be found here. In the last 90 days, insiders sold 3,547,239 shares of company stock valued at $221,525,951.

CAVA Group 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.