CAVA Group, Inc. (NYSE:CAVA) Holdings Trimmed by Boussard & Gavaudan Investment Management LLP

Boussard & Gavaudan Investment Management LLP lowered its position in shares of CAVA Group, Inc. (NYSE:CAVA - Free Report) by 57.6% in the third quarter, according to its most recent 13F filing with the SEC. The firm owned 15,200 shares of the company's stock after selling 20,646 shares during the quarter. Boussard & Gavaudan Investment Management LLP's holdings in CAVA Group were worth $1,876,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of the company. Renaissance Technologies LLC boosted its holdings in CAVA Group by 102.5% in the 2nd quarter. Renaissance Technologies LLC now owns 892,400 shares of the company's stock worth $82,770,000 after acquiring an additional 451,800 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in CAVA Group by 262.8% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 516,092 shares of the company's stock worth $63,918,000 after acquiring an additional 373,835 shares during the period. Eagle Asset Management Inc. boosted its holdings in CAVA Group by 233.4% in the 3rd quarter. Eagle Asset Management Inc. now owns 398,991 shares of the company's stock worth $49,415,000 after acquiring an additional 279,306 shares during the period. Driehaus Capital Management LLC boosted its holdings in CAVA Group by 51.8% in the 2nd quarter. Driehaus Capital Management LLC now owns 732,603 shares of the company's stock worth $67,949,000 after acquiring an additional 250,110 shares during the period. Finally, Marshall Wace LLP boosted its holdings in CAVA Group by 130.5% in the 2nd quarter. Marshall Wace LLP now owns 420,577 shares of the company's stock worth $39,009,000 after acquiring an additional 238,087 shares during the period. Hedge funds and other institutional investors own 73.15% of the company's stock.

Insider Activity

In other news, Director Karen Kochevar sold 15,000 shares of the firm's stock in a transaction on Friday, November 15th. The stock was sold at an average price of $140.00, for a total transaction of $2,100,000.00. Following the transaction, the director now directly owns 1,307 shares of the company's stock, valued at approximately $182,980. This trade represents a 91.99 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 12.10% of the company's stock.

Analysts Set New Price Targets

Several research firms have recently commented on CAVA. Stifel Nicolaus increased their target price on CAVA Group from $118.00 to $175.00 and gave the company a "buy" rating in a research note on Wednesday, November 13th. UBS Group began coverage on CAVA Group in a research note on Friday, September 27th. They set a "neutral" rating and a $135.00 target price for the company. Piper Sandler increased their target price on CAVA Group from $100.00 to $142.00 and gave the company a "neutral" rating in a research note on Friday, November 15th. Citigroup increased their target price on CAVA Group from $140.00 to $163.00 and gave the company a "neutral" rating in a research note on Wednesday, November 13th. Finally, Wedbush increased their target price on CAVA Group from $155.00 to $190.00 and gave the company an "outperform" rating in a research note on Wednesday, November 13th. Eight analysts have rated the stock with a hold rating and eight have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $143.80.

CAVA Group Price Performance

Shares of CAVA traded down $2.32 during trading hours on Thursday, reaching $141.20. 1,709,557 shares of the company's stock traded hands, compared to its average volume of 2,784,726. The firm has a market capitalization of $16.18 billion, a price-to-earnings ratio of 307.02 and a beta of 3.23. CAVA Group, Inc. has a twelve month low of $31.47 and a twelve month high of $172.43. The business's fifty day simple moving average is $134.81 and its two-hundred day simple moving average is $108.31.

CAVA Group (NYSE:CAVA - Get Free Report) last issued its quarterly earnings results on Tuesday, November 12th. The company reported $0.15 EPS for the quarter, beating analysts' consensus estimates of $0.11 by $0.04. The company had revenue of $243.82 million for the quarter, compared to analyst estimates of $233.05 million. CAVA Group had a return on equity of 9.10% and a net margin of 5.88%. The company's quarterly revenue was up 38.9% compared to the same quarter last year. During the same period last year, the company earned $0.06 earnings per share. On average, equities research analysts expect that CAVA Group, Inc. will post 0.5 EPS 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.