Principal Financial Group Inc. Trims Holdings in CAVA Group, Inc. (NYSE:CAVA)

Principal Financial Group Inc. trimmed its holdings in shares of CAVA Group, Inc. (NYSE:CAVA - Free Report) by 18.0% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 97,750 shares of the company's stock after selling 21,389 shares during the period. Principal Financial Group Inc. owned 0.09% of CAVA Group worth $12,106,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently bought and sold shares of the company. Farther Finance Advisors LLC increased its position in shares of CAVA Group by 6.3% during the third quarter. Farther Finance Advisors LLC now owns 1,916 shares of the company's stock worth $237,000 after purchasing an additional 113 shares in the last quarter. GAMMA Investing LLC increased its holdings in shares of CAVA Group by 68.3% during the 3rd quarter. GAMMA Investing LLC now owns 308 shares of the company's stock worth $38,000 after buying an additional 125 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of CAVA Group by 0.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 39,154 shares of the company's stock worth $3,632,000 after buying an additional 184 shares during the last quarter. Jaffetilchin Investment Partners LLC increased its holdings in CAVA Group by 4.2% in the 2nd quarter. Jaffetilchin Investment Partners LLC now owns 6,907 shares of the company's stock valued at $641,000 after purchasing an additional 278 shares in the last quarter. Finally, Jamison Private Wealth Management Inc. acquired a new position in CAVA Group in the second quarter worth about $28,000. 73.15% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

CAVA has been the subject of a number of research reports. Jefferies Financial Group lifted their price target on CAVA Group from $94.00 to $117.00 and gave the stock a "buy" rating in a research note on Friday, August 23rd. Robert W. Baird lifted their target price on CAVA Group from $125.00 to $148.00 and gave the company an "outperform" rating in a research note on Monday, November 4th. TD Cowen lifted their price target on CAVA Group from $130.00 to $150.00 and gave the company a "buy" rating in a report on Wednesday, November 13th. TD Securities boosted their target price on CAVA Group from $115.00 to $130.00 and gave the stock a "buy" rating in a report on Tuesday, September 24th. Finally, Wedbush boosted their target price on CAVA Group from $155.00 to $190.00 and gave the stock an "outperform" rating in a report on Wednesday, November 13th. Seven investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $143.71.

CAVA Group Trading Down 2.9 %

Shares of CAVA traded down $4.14 during midday trading on Monday, reaching $137.24. The stock had a trading volume of 6,298,857 shares, compared to its average volume of 2,779,386. The firm has a 50 day simple moving average of $131.69 and a 200-day simple moving average of $104.72. CAVA Group, Inc. has a one year low of $31.47 and a one year high of $172.43. The firm has a market cap of $15.72 billion, a PE ratio of 295.33 and a beta of 3.23.

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

Insider Transactions at CAVA Group

In related news, CEO Brett Schulman sold 201,504 shares of the company's stock in a transaction on Monday, August 26th. The shares were sold at an average price of $125.53, for a total transaction of $25,294,797.12. Following the completion of the sale, the chief executive officer now directly owns 702,590 shares in the company, valued at $88,196,122.70. This represents a 22.29 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Theodoros Xenohristos sold 98,490 shares of the company's stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $125.77, for a total transaction of $12,387,087.30. Following the completion of the sale, the director now directly owns 424,846 shares in the company, valued at $53,432,881.42. This represents a 18.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 304,994 shares of company stock worth $38,310,084 in the last quarter. 12.10% of the stock is currently owned by corporate 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.