Prudential Financial Inc. Has $27.19 Million Stock Holdings in CAVA Group, Inc. (NYSE:CAVA)

Prudential Financial Inc. raised its position in CAVA Group, Inc. (NYSE:CAVA - Free Report) by 149.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 241,050 shares of the company's stock after purchasing an additional 144,278 shares during the quarter. Prudential Financial Inc. owned 0.21% of CAVA Group worth $27,190,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of the company. Jennison Associates LLC grew its stake in shares of CAVA Group by 36,658.7% during the 4th quarter. Jennison Associates LLC now owns 2,461,732 shares of the company's stock worth $277,683,000 after acquiring an additional 2,455,035 shares in the last quarter. Vanguard Group Inc. grew its position in CAVA Group by 20.4% in the fourth quarter. Vanguard Group Inc. now owns 8,011,602 shares of the company's stock valued at $903,709,000 after purchasing an additional 1,357,187 shares in the last quarter. Geode Capital Management LLC increased its stake in CAVA Group by 121.0% in the 3rd quarter. Geode Capital Management LLC now owns 1,222,834 shares of the company's stock valued at $151,492,000 after buying an additional 669,599 shares during the last quarter. Raymond James Financial Inc. bought a new stake in CAVA Group during the 4th quarter worth about $59,516,000. Finally, Charles Schwab Investment Management Inc. boosted its stake in shares of CAVA Group by 262.8% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 516,092 shares of the company's stock worth $63,918,000 after buying an additional 373,835 shares during the last quarter. 73.15% of the stock is owned by institutional investors and hedge funds.

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Analysts Set New Price Targets

CAVA has been the topic of several analyst reports. Wedbush reiterated an "outperform" rating and set a $150.00 target price on shares of CAVA Group in a report on Wednesday, February 26th. William Blair reiterated an "outperform" rating on shares of CAVA Group in a research note on Wednesday, February 26th. Citigroup decreased their target price on shares of CAVA Group from $163.00 to $140.00 and set a "neutral" rating for the company in a research note on Friday, February 21st. Piper Sandler upgraded shares of CAVA Group from a "neutral" rating to an "overweight" rating and lowered their target price for the stock from $142.00 to $115.00 in a report on Friday, February 28th. Finally, Barclays cut their price target on shares of CAVA Group from $127.00 to $104.00 and set an "equal weight" rating for the company in a research note on Wednesday, February 26th. Six analysts have rated the stock with a hold rating and eleven have given a buy rating to the company's stock. Based on data from MarketBeat, CAVA Group has an average rating of "Moderate Buy" and a consensus target price of $130.25.

CAVA Group Trading Up 0.8 %

Shares of NYSE:CAVA traded up $0.68 during trading on Monday, reaching $86.53. 4,158,120 shares of the stock were exchanged, compared to its average volume of 3,035,172. CAVA Group, Inc. has a 12 month low of $58.22 and a 12 month high of $172.43. The stock has a 50-day moving average price of $107.40 and a 200-day moving average price of $121.67. The firm has a market cap of $10.00 billion, a PE ratio of 188.10 and a beta of 3.58.

CAVA Group (NYSE:CAVA - Get Free Report) last released its quarterly 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 firm 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%. On average, sell-side analysts expect that CAVA Group, Inc. will post 0.5 earnings per share for the current fiscal year.

Insider Activity at CAVA Group

In other news, CEO Brett Schulman sold 20,564 shares of the company'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 completion of the sale, the chief executive officer now directly owns 776,369 shares in the company, valued at approximately $92,527,657.42. This represents a 2.58 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Kenneth Robert Bertram sold 678 shares of the firm's stock in a transaction on Monday, January 27th. The stock was sold at an average price of $124.39, for a total value of $84,336.42. Following the completion of the transaction, the insider now owns 57,312 shares in the company, valued at $7,129,039.68. The trade was a 1.17 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 29,235 shares of company stock worth $3,514,101. Corporate insiders own 12.10% of the company's stock.

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.