Fmr LLC Increases Stock Position in CAVA Group, Inc. (NYSE:CAVA)

FMR LLC grew its stake in shares of CAVA Group, Inc. (NYSE:CAVA - Free Report) by 14.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,976,353 shares of the company's stock after buying an additional 491,320 shares during the period. FMR LLC owned approximately 3.47% of CAVA Group worth $448,533,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently modified their holdings of CAVA. Janus Henderson Group PLC grew its holdings in shares of CAVA Group by 21.4% in the 3rd quarter. Janus Henderson Group PLC now owns 25,500 shares of the company's stock valued at $3,157,000 after buying an additional 4,500 shares during the period. Stifel Financial Corp increased its holdings in shares of CAVA Group by 7.9% in the third quarter. Stifel Financial Corp now owns 57,395 shares of the company's stock worth $7,108,000 after acquiring an additional 4,214 shares in the last quarter. State Street Corp raised its position in shares of CAVA Group by 33.3% during the third quarter. State Street Corp now owns 1,267,333 shares of the company's stock worth $156,959,000 after purchasing an additional 316,514 shares during the period. National Bank of Canada FI lifted its holdings in shares of CAVA Group by 782.7% during the 3rd quarter. National Bank of Canada FI now owns 4,855 shares of the company's stock valued at $601,000 after purchasing an additional 4,305 shares in the last quarter. Finally, XTX Topco Ltd acquired a new position in shares of CAVA Group in the 3rd quarter valued at approximately $828,000. 73.15% of the stock is currently owned by institutional investors and hedge funds.

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Insider Activity

In other news, insider Kenneth Robert Bertram sold 678 shares of the stock in a transaction that occurred on Monday, January 27th. The shares were sold at an average price of $124.39, for a total transaction of $84,336.42. Following the completion of 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Adam David Phillips sold 615 shares of CAVA Group 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 $76,499.85. Following the completion of the sale, the chief accounting officer now directly owns 10,884 shares in the company, valued at $1,353,860.76. This trade represents a 5.35 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 29,235 shares of company stock valued at $3,514,101 over the last three months. Corporate insiders own 12.10% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the stock. Wedbush reaffirmed an "outperform" rating and issued a $150.00 price objective on shares of CAVA Group in a research report 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 report on Friday, February 21st. UBS Group cut their price target on shares of CAVA Group from $160.00 to $125.00 and set a "neutral" rating on the stock in a research report on Tuesday, January 7th. Bank of America assumed coverage on CAVA Group in a report on Monday, March 31st. They set a "buy" rating and a $112.00 target price on the stock. Finally, Loop Capital decreased their price target on CAVA Group from $147.00 to $100.00 and set a "hold" rating for the company in a research note on Thursday, February 27th. Six investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $127.56.

CAVA Group Stock Up 1.1 %

Shares of NYSE CAVA traded up $0.96 during trading on Monday, reaching $91.03. The company had a trading volume of 542,234 shares, compared to its average volume of 3,090,713. CAVA Group, Inc. has a 12 month low of $58.22 and a 12 month high of $172.43. The company's fifty day moving average price is $97.49 and its 200-day moving average price is $118.58. The stock has a market cap of $10.52 billion, a P/E ratio of 197.89 and a beta of 3.33.

CAVA Group (NYSE:CAVA - Get Free Report) last posted its quarterly earnings results on Tuesday, February 25th. The company reported $0.05 earnings per share for the quarter, missing the consensus estimate of $0.06 by ($0.01). The company 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%. As a group, equities analysts predict that CAVA Group, Inc. will post 0.5 earnings per share for the current year.

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.