Bank of New York Mellon Corp Sells 13,778 Shares of CAVA Group, Inc. (NYSE:CAVA)

Bank of New York Mellon Corp decreased its stake in shares of CAVA Group, Inc. (NYSE:CAVA - Free Report) by 4.9% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 269,347 shares of the company's stock after selling 13,778 shares during the period. Bank of New York Mellon Corp owned 0.24% of CAVA Group worth $30,382,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in CAVA. Nwam LLC grew its holdings in CAVA Group by 2.6% during the third quarter. Nwam LLC now owns 3,368 shares of the company's stock valued at $417,000 after purchasing an additional 85 shares during the last quarter. Howard Financial Services LTD. boosted its holdings in shares of CAVA Group by 1.8% during the 4th quarter. Howard Financial Services LTD. now owns 6,194 shares of the company's stock worth $699,000 after buying an additional 109 shares during the period. CIBC Asset Management Inc grew its stake in CAVA Group by 3.5% in the 3rd quarter. CIBC Asset Management Inc now owns 3,287 shares of the company's stock valued at $407,000 after buying an additional 110 shares during the last quarter. Farther Finance Advisors LLC raised its holdings in CAVA Group by 6.3% in the 3rd quarter. Farther Finance Advisors LLC now owns 1,916 shares of the company's stock worth $237,000 after acquiring an additional 113 shares during the period. Finally, GAMMA Investing LLC lifted its position in CAVA Group by 37.0% during the 4th quarter. GAMMA Investing LLC now owns 422 shares of the company's stock worth $48,000 after acquiring an additional 114 shares during the last quarter. 73.15% of the stock is owned by institutional investors.

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Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on CAVA shares. Barclays dropped their price objective on CAVA Group from $127.00 to $104.00 and set an "equal weight" rating on the stock in a research note on Wednesday, February 26th. Loop Capital dropped their price target on CAVA Group from $147.00 to $100.00 and set a "hold" rating on the stock in a research report on Thursday, February 27th. Sanford C. Bernstein began coverage on CAVA Group in a research report on Wednesday, November 20th. They issued a "market perform" rating and a $145.00 price objective for the company. Citigroup dropped their target price on shares of CAVA Group from $163.00 to $140.00 and set a "neutral" rating on the stock in a research report on Friday, February 21st. Finally, TD Securities cut their target price on shares of CAVA Group from $150.00 to $130.00 and set a "buy" rating for the company in a research note on Wednesday, February 26th. Seven investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $131.47.

CAVA Group Stock Performance

NYSE CAVA traded up $2.34 during trading on Wednesday, reaching $82.35. 1,800,216 shares of the company traded hands, compared to its average volume of 2,921,662. CAVA Group, Inc. has a 1-year low of $58.22 and a 1-year high of $172.43. The company has a market cap of $9.52 billion, a price-to-earnings ratio of 178.52 and a beta of 3.58. The stock's 50 day moving average price is $116.27 and its two-hundred day moving average price is $125.05.

CAVA Group (NYSE:CAVA - Get Free Report) last announced its quarterly earnings results 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). The company had revenue of $227.40 million during 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%. Equities research analysts expect that CAVA Group, Inc. will post 0.5 EPS for the current fiscal year.

Insider Transactions at CAVA Group

In other news, CAO Adam David Phillips sold 615 shares of the business's stock in a transaction that occurred on Monday, January 27th. The stock was sold at an average price of $124.39, for a total value of $76,499.85. Following the transaction, the chief accounting officer now directly owns 10,884 shares of the company's stock, valued at $1,353,860.76. The trade was a 5.35 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Kenneth Robert Bertram sold 678 shares of the firm's stock in a transaction on Monday, January 27th. The shares were sold at an average price of $124.39, for a total value of $84,336.42. Following the sale, the insider now directly owns 57,312 shares of the company's stock, valued at $7,129,039.68. This represents a 1.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 29,235 shares of company stock valued at $3,514,101. 12.10% of the stock is owned by insiders.

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.