Public Employees Retirement Association of Colorado Increases Stock Holdings in CAVA Group, Inc. (NYSE:CAVA)

Public Employees Retirement Association of Colorado increased its position in CAVA Group, Inc. (NYSE:CAVA - Free Report) by 107.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 8,850 shares of the company's stock after purchasing an additional 4,579 shares during the period. Public Employees Retirement Association of Colorado's holdings in CAVA Group were worth $998,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in CAVA. Vanguard Group Inc. increased its stake in CAVA Group by 20.4% during the 4th quarter. Vanguard Group Inc. now owns 8,011,602 shares of the company's stock valued at $903,709,000 after purchasing an additional 1,357,187 shares in the last quarter. FMR LLC raised its holdings in CAVA Group by 14.1% in the 4th quarter. FMR LLC now owns 3,976,353 shares of the company's stock worth $448,533,000 after acquiring an additional 491,320 shares during the last quarter. Jennison Associates LLC lifted its position in CAVA Group by 36,658.7% in the 4th quarter. Jennison Associates LLC now owns 2,461,732 shares of the company's stock valued at $277,683,000 after acquiring an additional 2,455,035 shares in the last quarter. Federated Hermes Inc. boosted its stake in CAVA Group by 33.0% during the 4th quarter. Federated Hermes Inc. now owns 1,464,987 shares of the company's stock valued at $165,243,000 after purchasing an additional 363,814 shares during the last quarter. Finally, Lord Abbett & CO. LLC increased its holdings in shares of CAVA Group by 2.3% in the 4th quarter. Lord Abbett & CO. LLC now owns 1,389,327 shares of the company's stock worth $156,716,000 after purchasing an additional 31,077 shares in the last quarter. Institutional investors own 73.15% of the company's stock.

CAVA Group Price Performance

Shares of CAVA stock traded up $2.05 during mid-day trading on Friday, hitting $96.58. The company had a trading volume of 2,406,742 shares, compared to its average volume of 3,110,621. The company has a market capitalization of $11.17 billion, a P/E ratio of 209.96 and a beta of 3.33. CAVA Group, Inc. has a 52-week low of $70.00 and a 52-week high of $172.43. The stock's 50 day moving average price is $86.14 and its 200-day moving average price is $114.51.

CAVA Group (NYSE:CAVA - Get Free Report) last posted its earnings results on Tuesday, February 25th. The company reported $0.05 EPS for the quarter, missing analysts' consensus estimates of $0.06 by ($0.01). The firm had revenue of $227.40 million during the quarter, compared to analysts' expectations of $223.34 million. CAVA Group had a return on equity of 9.10% and a net margin of 5.88%. On average, equities research analysts expect that CAVA Group, Inc. will post 0.5 earnings per share for the current year.

Analysts Set New Price Targets

CAVA has been the subject of several research reports. Piper Sandler raised shares of CAVA Group from a "neutral" rating to an "overweight" rating and decreased their price objective for the company from $142.00 to $115.00 in a report on Friday, February 28th. TD Securities lowered their price target on CAVA Group from $130.00 to $120.00 and set a "buy" rating on the stock in a report on Monday, April 21st. Citigroup dropped their price target on CAVA Group from $163.00 to $140.00 and set a "neutral" rating on the stock in a research note on Friday, February 21st. UBS Group reduced their price objective on CAVA Group from $160.00 to $125.00 and set a "neutral" rating for the company in a research report on Tuesday, January 7th. Finally, JPMorgan Chase & Co. raised CAVA Group from a "neutral" rating to an "overweight" rating and set a $110.00 target price on the stock in a research report on Thursday, March 20th. Five investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $124.19.

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.