Jennison Associates LLC Grows Stake in CAVA Group, Inc. (NYSE:CAVA)

Jennison Associates LLC grew its stake in shares of CAVA Group, Inc. (NYSE:CAVA - Free Report) by 24.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,222,240 shares of the company's stock after purchasing an additional 242,376 shares during the quarter. Jennison Associates LLC owned approximately 1.08% of CAVA Group worth $52,532,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the stock. Vanguard Group Inc. lifted its stake 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 acquiring an additional 196,019 shares during the period. FMR LLC lifted its stake 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 acquiring an additional 545,799 shares during the period. Lord Abbett & CO. LLC lifted its stake 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 acquiring an additional 239,471 shares during the period. Federated Hermes Inc. lifted its stake in CAVA Group by 25.6% in the fourth quarter. Federated Hermes Inc. now owns 565,054 shares of the company's stock worth $24,286,000 after acquiring an additional 115,054 shares during the period. Finally, Artisan Partners Limited Partnership lifted its stake in CAVA Group by 143.1% in the third quarter. Artisan Partners Limited Partnership now owns 245,235 shares of the company's stock worth $7,512,000 after acquiring an additional 144,359 shares during the period. Hedge funds and other institutional investors own 73.15% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have commented on CAVA shares. William Blair reissued an "outperform" rating on shares of CAVA Group in a research report on Tuesday, February 27th. Barclays assumed coverage on CAVA Group in a research report on Monday, April 15th. They set an "equal weight" rating and a $58.00 price objective for the company. TD Cowen restated a "buy" rating and set a $63.00 price target on shares of CAVA Group in a report on Wednesday, April 10th. Wedbush raised their price target on CAVA Group from $65.00 to $74.00 and gave the company an "outperform" rating in a report on Tuesday, April 16th. Finally, Argus upgraded CAVA Group from a "hold" rating to a "buy" rating and set a $70.00 price target for the company in a report on Wednesday, April 10th. Four investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $60.42.

CAVA Group Stock Down 1.3 %

Shares of CAVA stock traded down $0.80 during trading hours on Wednesday, reaching $60.39. 1,048,547 shares of the company traded hands, compared to its average volume of 2,175,431. CAVA Group, Inc. has a 12-month low of $29.05 and a 12-month high of $71.60. The firm has a 50-day moving average price of $61.67 and a 200 day moving average price of $47.09.

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

Insider Buying and Selling

In related news, Director Theodoros Xenohristos sold 47,239 shares of the business's stock in a transaction that occurred on Tuesday, March 26th. The stock was sold at an average price of $68.29, for a total value of $3,225,951.31. Following the transaction, the director now directly owns 526,521 shares of the company's stock, valued at approximately $35,956,119.09. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, Director Theodoros Xenohristos sold 47,239 shares of the business's stock in a transaction that occurred on Tuesday, March 26th. The stock was sold at an average price of $68.29, for a total value of $3,225,951.31. Following the transaction, the director now directly owns 526,521 shares of the company's stock, valued at approximately $35,956,119.09. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director International S.C.A. Artal sold 2,000,000 shares of the company's stock in a transaction that occurred on Thursday, March 21st. The stock was sold at an average price of $66.25, for a total value of $132,500,000.00. Following the sale, the director now directly owns 26,507,990 shares in the company, valued at $1,756,154,337.50. The disclosure for this sale can be found here. In the last three months, insiders have sold 3,547,239 shares of company stock valued at $221,525,951.

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.