T. Rowe Price Investment Management Inc. Sells 802,933 Shares of CAVA Group, Inc. (NYSE:CAVA)

T. Rowe Price Investment Management Inc. lessened its stake in CAVA Group, Inc. (NYSE:CAVA - Free Report) by 90.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 85,492 shares of the company's stock after selling 802,933 shares during the quarter. T. Rowe Price Investment Management Inc. owned 0.07% of CAVA Group worth $9,644,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently bought and sold shares of the company. Howard Financial Services LTD. grew its holdings in shares of CAVA Group by 1.8% during the fourth quarter. Howard Financial Services LTD. now owns 6,194 shares of the company's stock valued at $699,000 after buying an additional 109 shares during the last quarter. GAMMA Investing LLC boosted its stake in 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 purchasing an additional 114 shares during the last quarter. Whittier Trust Co. increased its holdings in shares of CAVA Group by 80.9% in the 4th quarter. Whittier Trust Co. now owns 284 shares of the company's stock worth $32,000 after purchasing an additional 127 shares in the last quarter. Mainstream Capital Management LLC raised its stake in shares of CAVA Group by 0.7% in the fourth quarter. Mainstream Capital Management LLC now owns 17,758 shares of the company's stock worth $2,003,000 after purchasing an additional 132 shares during the last quarter. Finally, PSI Advisors LLC lifted its holdings in shares of CAVA Group by 11.3% during the fourth quarter. PSI Advisors LLC now owns 1,473 shares of the company's stock valued at $166,000 after purchasing an additional 150 shares in the last quarter. 73.15% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on CAVA shares. Bank of America assumed coverage on CAVA Group in a research report on Monday, March 31st. They issued a "buy" rating and a $112.00 target price for the company. Robert W. Baird set a $105.00 price target on shares of CAVA Group and gave the stock an "outperform" rating in a research report on Monday, April 7th. Wedbush reissued an "outperform" rating and issued a $150.00 target price on shares of CAVA Group in a report on Wednesday, February 26th. UBS Group dropped their price objective on CAVA Group from $160.00 to $125.00 and set a "neutral" rating for the company in a research note on Tuesday, January 7th. Finally, William Blair reissued an "outperform" rating on shares of CAVA Group in a research note on Wednesday, February 26th. Five research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $124.19.

CAVA Group Trading Up 2.2 %

Shares of NYSE CAVA traded up $2.05 during mid-day trading on Friday, reaching $96.58. The company had a trading volume of 2,405,843 shares, compared to its average volume of 3,268,156. The stock has a market cap of $11.17 billion, a price-to-earnings ratio of 209.96 and a beta of 3.33. CAVA Group, Inc. has a 52 week low of $69.28 and a 52 week high of $172.43. The business's 50-day moving average is $86.20 and its 200-day moving average is $114.91.

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

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.