Advisory Services Network LLC Decreases Stock Position in CAVA Group, Inc. (NYSE:CAVA)

Advisory Services Network LLC reduced its holdings in CAVA Group, Inc. (NYSE:CAVA - Free Report) by 45.7% in the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 4,073 shares of the company's stock after selling 3,430 shares during the quarter. Advisory Services Network LLC's holdings in CAVA Group were worth $459,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the business. Jennison Associates LLC raised its holdings in CAVA Group by 36,658.7% during the 4th quarter. Jennison Associates LLC now owns 2,461,732 shares of the company's stock worth $277,683,000 after purchasing an additional 2,455,035 shares during the last quarter. Vanguard Group Inc. increased its position in shares of CAVA Group by 20.4% during the fourth quarter. Vanguard Group Inc. now owns 8,011,602 shares of the company's stock worth $903,709,000 after buying an additional 1,357,187 shares during the period. Norges Bank bought a new position in CAVA Group during the fourth quarter worth $64,538,000. Raymond James Financial Inc. acquired a new position in CAVA Group in the fourth quarter valued at $59,516,000. Finally, FMR LLC lifted its holdings in CAVA Group by 14.1% in the fourth quarter. FMR LLC now owns 3,976,353 shares of the company's stock valued at $448,533,000 after buying an additional 491,320 shares during the period. Institutional investors own 73.15% of the company's stock.

Insider Buying and Selling at CAVA Group

In other CAVA Group news, CEO Brett Schulman sold 2,936 shares of the company's stock in a transaction on Monday, January 27th. The stock was sold at an average price of $124.39, for a total value of $365,209.04. Following the completion of the transaction, the chief executive officer now owns 773,433 shares in the company, valued at $96,207,330.87. This represents a 0.38 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Tricia K. Tolivar sold 1,505 shares of CAVA Group stock in a transaction on Monday, January 27th. The stock was sold at an average price of $124.39, for a total value of $187,206.95. Following the sale, the chief financial officer now owns 234,087 shares in the company, valued at $29,118,081.93. The trade was a 0.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 5,734 shares of company stock worth $713,252. Insiders own 12.10% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on CAVA. Piper Sandler raised CAVA Group from a "neutral" rating to an "overweight" rating and dropped their price objective for the company from $142.00 to $115.00 in a research note on Friday, February 28th. Wedbush reissued an "outperform" rating and issued a $150.00 price target on shares of CAVA Group in a research note on Wednesday, February 26th. TD Securities reduced their price objective on shares of CAVA Group from $130.00 to $120.00 and set a "buy" rating for the company in a research report on Monday. Citigroup lowered their price objective on shares of CAVA Group from $163.00 to $140.00 and set a "neutral" rating for the company in a research note on Friday, February 21st. Finally, Bank of America initiated coverage on shares of CAVA Group in a research note on Monday, March 31st. They set a "buy" rating and a $112.00 target price on the stock. Six research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $126.06.

CAVA Group Trading Up 1.1 %

Shares of NYSE:CAVA traded up $0.91 during mid-day trading on Tuesday, hitting $81.28. 2,394,053 shares of the company traded hands, compared to its average volume of 3,118,473. The stock has a 50-day moving average price of $90.32 and a two-hundred day moving average price of $116.74. CAVA Group, Inc. has a 12-month low of $59.02 and a 12-month high of $172.43. The stock has a market cap of $9.40 billion, a P/E ratio of 176.70 and a beta of 3.33.

CAVA Group (NYSE:CAVA - Get Free Report) last posted its quarterly earnings data on Tuesday, February 25th. The company reported $0.05 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.06 by ($0.01). CAVA Group had a return on equity of 9.10% and a net margin of 5.88%. The firm had revenue of $227.40 million for the quarter, compared to analysts' expectations of $223.34 million. As a group, analysts expect 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.