Capital Research Global Investors Cuts Holdings in CAVA Group, Inc. (NYSE:CAVA)

Capital Research Global Investors lessened its stake in CAVA Group, Inc. (NYSE:CAVA - Free Report) by 10.2% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 3,402,031 shares of the company's stock after selling 387,462 shares during the quarter. Capital Research Global Investors owned approximately 2.97% of CAVA Group worth $383,749,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Dimensional Fund Advisors LP raised its position in CAVA Group by 43.2% during the 4th quarter. Dimensional Fund Advisors LP now owns 239,561 shares of the company's stock worth $27,019,000 after buying an additional 72,288 shares during the last quarter. Forum Financial Management LP purchased a new stake in shares of CAVA Group in the 4th quarter valued at $230,000. Canada Pension Plan Investment Board raised its holdings in CAVA Group by 393.2% in the fourth quarter. Canada Pension Plan Investment Board now owns 628,300 shares of the company's stock valued at $70,872,000 after acquiring an additional 500,900 shares in the last quarter. NewEdge Advisors LLC grew its position in shares of CAVA Group by 24.6% in the 4th quarter. NewEdge Advisors LLC now owns 15,666 shares of the company's stock valued at $1,767,000 after buying an additional 3,094 shares during the last quarter. Finally, Jump Financial LLC increased its position in CAVA Group by 1,344.1% in the 4th quarter. Jump Financial LLC now owns 222,562 shares of the company's stock valued at $25,105,000 after acquiring an additional 207,150 shares during the period. 73.15% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on CAVA shares. Piper Sandler raised CAVA Group from a "neutral" rating to an "overweight" rating and dropped their price target for the stock from $142.00 to $115.00 in a research report on Friday, February 28th. JPMorgan Chase & Co. raised CAVA Group from a "neutral" rating to an "overweight" rating and set a $110.00 price target on the stock in a report on Thursday, March 20th. Citigroup lowered their price target on CAVA Group from $163.00 to $140.00 and set a "neutral" rating on the stock in a research report on Friday, February 21st. Sanford C. Bernstein upgraded shares of CAVA Group from a "market perform" rating to an "outperform" rating and set a $115.00 price target on the stock in a report on Wednesday. Finally, TD Securities cut their price target on CAVA Group from $130.00 to $120.00 and set a "buy" rating for the company in a research note on Monday. Five analysts have rated the stock with a hold rating and twelve have given a buy rating to the company's stock. According to data from MarketBeat.com, CAVA Group currently has a consensus rating of "Moderate Buy" and an average price target of $124.19.

Insider Buying and Selling at CAVA Group

In other news, CFO Tricia K. Tolivar sold 1,505 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 transaction of $187,206.95. Following the completion of the sale, the chief financial officer now owns 234,087 shares in the company, valued at approximately $29,118,081.93. This represents a 0.64 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Kenneth Robert Bertram sold 678 shares of the firm'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 transaction of $84,336.42. Following the transaction, 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 ninety days, insiders sold 5,734 shares of company stock worth $713,252. Insiders own 12.10% of the company's stock.

CAVA Group Price Performance

Shares of CAVA Group stock traded up $5.10 during trading hours on Wednesday, reaching $86.40. The company had a trading volume of 3,069,115 shares, compared to its average volume of 3,126,237. CAVA Group, Inc. has a one year low of $59.02 and a one year high of $172.43. The firm has a market cap of $9.99 billion, a PE ratio of 187.83 and a beta of 3.33. The business has a fifty day simple moving average of $90.32 and a 200 day simple moving average of $116.74.

CAVA Group (NYSE:CAVA - Get Free Report) last posted its earnings results on Tuesday, February 25th. The company reported $0.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.06 by ($0.01). The business had revenue of $227.40 million during the quarter, compared to the consensus estimate of $223.34 million. CAVA Group had a return on equity of 9.10% and a net margin of 5.88%. On average, research analysts forecast that CAVA Group, Inc. will post 0.5 EPS for the current year.

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.