Thrivent Financial for Lutherans Sells 16,001 Shares of CAVA Group, Inc. (NYSE:CAVA)

Thrivent Financial for Lutherans reduced its position in CAVA Group, Inc. (NYSE:CAVA - Free Report) by 78.6% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 4,347 shares of the company's stock after selling 16,001 shares during the period. Thrivent Financial for Lutherans' holdings in CAVA Group were worth $538,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Renaissance Technologies LLC lifted its holdings in shares of CAVA Group by 102.5% during the 2nd quarter. Renaissance Technologies LLC now owns 892,400 shares of the company's stock valued at $82,770,000 after purchasing an additional 451,800 shares in the last quarter. Driehaus Capital Management LLC grew 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 valued at $67,949,000 after buying an additional 250,110 shares in the last quarter. Marshall Wace LLP lifted its position in shares of CAVA Group by 130.5% during the 2nd quarter. Marshall Wace LLP now owns 420,577 shares of the company's stock valued at $39,009,000 after acquiring an additional 238,087 shares during the period. ING Groep NV acquired a new stake in CAVA Group in the third quarter valued at approximately $17,748,000. Finally, Nepsis Inc. acquired a new position in CAVA Group in the 2nd quarter valued at approximately $13,090,000. Institutional investors own 73.15% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have issued reports on CAVA shares. Jefferies Financial Group lifted their price objective on shares of CAVA Group from $94.00 to $117.00 and gave the stock a "buy" rating in a report on Friday, August 23rd. Piper Sandler upped their target price on CAVA Group from $100.00 to $142.00 and gave the company a "neutral" rating in a report on Friday, November 15th. Morgan Stanley lifted their price target on CAVA Group from $123.00 to $135.00 and gave the stock an "equal weight" rating in a report on Thursday, November 14th. Citigroup lifted their target price on CAVA Group from $140.00 to $163.00 and gave the stock a "neutral" rating in a research note on Wednesday, November 13th. Finally, Loop Capital increased their price target on shares of CAVA Group from $122.00 to $147.00 and gave the company a "hold" rating in a research report on Thursday, November 14th. Eight investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $143.80.

CAVA Group Stock Performance

Shares of NYSE CAVA traded up $2.90 during midday trading on Thursday, hitting $150.50. 3,341,004 shares of the company's stock traded hands, compared to its average volume of 2,773,281. CAVA Group, Inc. has a 1 year low of $31.47 and a 1 year high of $172.43. The stock has a market capitalization of $17.24 billion, a price-to-earnings ratio of 320.72 and a beta of 2.93. The firm has a fifty day moving average of $136.33 and a 200 day moving average of $110.58.

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

Insiders Place Their Bets

In other news, Director Karen Kochevar sold 15,000 shares of the stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $142.23, for a total transaction of $2,133,450.00. Following the completion of the transaction, the director now directly owns 1,307 shares in the company, valued at approximately $185,894.61. This represents a 91.99 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 12.10% of the stock is currently owned by corporate insiders.

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.