California Public Employees Retirement System Raises Holdings in CAVA Group, Inc. (NYSE:CAVA)

California Public Employees Retirement System lifted its stake in shares of CAVA Group, Inc. (NYSE:CAVA - Free Report) by 17.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 126,540 shares of the company's stock after purchasing an additional 19,078 shares during the period. California Public Employees Retirement System owned about 0.11% of CAVA Group worth $14,274,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of CAVA. The Manufacturers Life Insurance Company lifted its position in shares of CAVA Group by 5.5% in the third quarter. The Manufacturers Life Insurance Company now owns 22,162 shares of the company's stock valued at $2,745,000 after acquiring an additional 1,155 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in CAVA Group by 31.5% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 10,470 shares of the company's stock valued at $1,297,000 after purchasing an additional 2,511 shares in the last quarter. Captrust Financial Advisors boosted its stake in CAVA Group by 17.6% during the 3rd quarter. Captrust Financial Advisors now owns 9,173 shares of the company's stock worth $1,136,000 after purchasing an additional 1,372 shares during the last quarter. Janus Henderson Group PLC grew its holdings in shares of CAVA Group by 21.4% during the third quarter. Janus Henderson Group PLC now owns 25,500 shares of the company's stock worth $3,157,000 after buying an additional 4,500 shares in the last quarter. Finally, Integrated Wealth Concepts LLC raised its position in shares of CAVA Group by 10.1% in the third quarter. Integrated Wealth Concepts LLC now owns 6,390 shares of the company's stock valued at $791,000 after buying an additional 585 shares during the last quarter. Institutional investors and hedge funds own 73.15% of the company's stock.

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Insider Transactions at CAVA Group

In other CAVA Group news, CAO Adam David Phillips sold 615 shares of the stock in a transaction 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 completion of the transaction, the chief accounting officer now owns 10,884 shares in the company, valued at approximately $1,353,860.76. This represents a 5.35 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Brett Schulman sold 20,564 shares of the business's stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $119.18, for a total transaction of $2,450,817.52. Following the sale, the chief executive officer now owns 776,369 shares in the company, valued at $92,527,657.42. The trade was a 2.58 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 29,235 shares of company stock worth $3,514,101. Company insiders own 12.10% of the company's stock.

CAVA Group Stock Performance

CAVA Group stock traded up $13.48 during midday trading on Wednesday, hitting $91.94. 6,253,410 shares of the company's stock were exchanged, compared to its average volume of 3,099,922. CAVA Group, Inc. has a 12-month low of $58.22 and a 12-month high of $172.43. The stock has a market cap of $10.63 billion, a price-to-earnings ratio of 199.88 and a beta of 3.33. The firm's 50 day simple moving average is $99.52 and its 200 day simple moving average is $119.16.

CAVA Group (NYSE:CAVA - Get Free Report) last released its earnings results 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 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 research analysts forecast that CAVA Group, Inc. will post 0.5 EPS for the current fiscal year.

Analyst Ratings Changes

CAVA has been the topic of several recent research reports. TD Securities lowered their target price on CAVA Group from $150.00 to $130.00 and set a "buy" rating on the stock in a report on Wednesday, February 26th. Citigroup dropped their target price on CAVA Group from $163.00 to $140.00 and set a "neutral" rating for the company in a report on Friday, February 21st. Loop Capital reduced their price target on CAVA Group from $147.00 to $100.00 and set a "hold" rating on the stock in a report on Thursday, February 27th. Robert W. Baird set a $105.00 price objective on shares of CAVA Group and gave the stock an "outperform" rating in a research report on Monday. Finally, UBS Group decreased their target price on shares of CAVA Group from $160.00 to $125.00 and set a "neutral" rating on the stock in a report on Tuesday, January 7th. Six investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat, CAVA Group currently has a consensus rating of "Moderate Buy" and an average target price of $127.56.

CAVA Group 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.