American Century Companies Inc. Buys 38,363 Shares of CAVA Group, Inc. (NYSE:CAVA)

American Century Companies Inc. raised its position in shares of CAVA Group, Inc. (NYSE:CAVA - Free Report) by 91.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 80,241 shares of the company's stock after acquiring an additional 38,363 shares during the period. American Century Companies Inc. owned approximately 0.07% of CAVA Group worth $9,051,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Arcadia Investment Management Corp MI acquired a new position in shares of CAVA Group during the 4th quarter worth approximately $25,000. Allworth Financial LP increased its stake in CAVA Group by 369.2% during the 4th quarter. Allworth Financial LP now owns 244 shares of the company's stock worth $30,000 after acquiring an additional 192 shares during the period. Larson Financial Group LLC increased its stake in CAVA Group by 274.0% during the 4th quarter. Larson Financial Group LLC now owns 273 shares of the company's stock worth $31,000 after acquiring an additional 200 shares during the period. Whittier Trust Co. raised its holdings in CAVA Group by 80.9% in the 4th quarter. Whittier Trust Co. now owns 284 shares of the company's stock valued at $32,000 after acquiring an additional 127 shares in the last quarter. Finally, Signaturefd LLC grew its holdings in shares of CAVA Group by 884.4% during the 4th quarter. Signaturefd LLC now owns 315 shares of the company's stock worth $36,000 after purchasing an additional 283 shares in the last quarter. Institutional investors and hedge funds own 73.15% of the company's stock.

Remove Ads

Analyst Upgrades and Downgrades

CAVA has been the subject of a number of analyst reports. Citigroup dropped their price target on CAVA Group from $163.00 to $140.00 and set a "neutral" rating for the company in a research note on Friday, February 21st. Barclays cut their price target on shares of CAVA Group from $127.00 to $104.00 and set an "equal weight" rating for the company in a report on Wednesday, February 26th. Wedbush reissued an "outperform" rating and issued a $150.00 price objective on shares of CAVA Group in a research note on Wednesday, February 26th. Loop Capital cut their target price on CAVA Group from $147.00 to $100.00 and set a "hold" rating for the company in a research note on Thursday, February 27th. Finally, Bank of America started coverage on CAVA Group in a research note on Monday, March 31st. They issued a "buy" rating and a $112.00 price target on the stock. Six investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $127.56.

CAVA Group Stock Up 5.4 %

NYSE CAVA traded up $4.05 on Monday, hitting $79.24. The company's stock had a trading volume of 5,937,116 shares, compared to its average volume of 3,083,483. The company's 50-day moving average is $103.40 and its 200 day moving average is $120.25. The firm has a market cap of $9.16 billion, a PE ratio of 172.25 and a beta of 3.33. CAVA Group, Inc. has a 1-year low of $58.22 and a 1-year high of $172.43.

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 for the quarter, missing analysts' consensus estimates of $0.06 by ($0.01). CAVA Group had a net margin of 5.88% and a return on equity of 9.10%. The company had revenue of $227.40 million during the quarter, compared to analyst estimates of $223.34 million. On average, equities analysts expect that CAVA Group, Inc. will post 0.5 EPS for the current year.

Insider Transactions at CAVA Group

In related news, CAO Adam David Phillips sold 615 shares of CAVA Group stock in a transaction on Monday, January 27th. The shares were sold at an average price of $124.39, for a total transaction of $76,499.85. Following the completion of the transaction, the chief accounting officer now owns 10,884 shares of the company's stock, valued at $1,353,860.76. This trade represents a 5.35 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Tricia K. Tolivar sold 2,086 shares of the company's stock in a transaction on Tuesday, January 21st. The shares were sold at an average price of $119.18, for a total transaction of $248,609.48. Following the sale, the chief financial officer now directly owns 235,592 shares in the company, valued at $28,077,854.56. This trade represents a 0.88 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 29,235 shares of company stock worth $3,514,101 over the last ninety days. 12.10% of the stock is owned by insiders.

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.