Cerity Partners LLC Makes New Investment in CAVA Group, Inc. (NYSE:CAVA)

Cerity Partners LLC acquired a new stake in shares of CAVA Group, Inc. (NYSE:CAVA - Free Report) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 11,508 shares of the company's stock, valued at approximately $1,425,000.

Other hedge funds have also bought and sold shares of the company. California State Teachers Retirement System lifted its stake in shares of CAVA Group by 54.6% during the 1st quarter. California State Teachers Retirement System now owns 35,861 shares of the company's stock worth $2,512,000 after acquiring an additional 12,660 shares during the last quarter. Comerica Bank increased its stake in CAVA Group by 14.9% in the 1st quarter. Comerica Bank now owns 12,105 shares of the company's stock worth $848,000 after buying an additional 1,567 shares during the period. Cetera Investment Advisers purchased a new position in CAVA Group in the 1st quarter worth about $2,455,000. Cetera Advisors LLC bought a new stake in CAVA Group during the 1st quarter valued at about $301,000. Finally, Mather Group LLC. purchased a new stake in CAVA Group in the 2nd quarter valued at about $45,000. Institutional investors own 73.15% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the stock. TD Securities lifted their price target on shares of CAVA Group from $115.00 to $130.00 and gave the company a "buy" rating in a research note on Tuesday, September 24th. JPMorgan Chase & Co. lifted their target price on CAVA Group from $90.00 to $110.00 and gave the company a "neutral" rating in a research report on Wednesday, November 13th. UBS Group began coverage on CAVA Group in a research report on Friday, September 27th. They set a "neutral" rating and a $135.00 price target on the stock. TD Cowen lifted their price objective on CAVA Group from $130.00 to $150.00 and gave the company a "buy" rating in a report on Wednesday, November 13th. Finally, Piper Sandler increased their target price on shares of CAVA Group from $100.00 to $142.00 and gave the stock a "neutral" rating in a report on Friday, November 15th. Eight research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $143.80.

Insider Transactions at CAVA Group

In related news, Director Karen Kochevar sold 15,000 shares of the firm's stock in a transaction on Friday, November 15th. The shares were sold at an average price of $140.00, for a total transaction of $2,100,000.00. Following the sale, the director now owns 1,307 shares in the company, valued at approximately $182,980. This trade represents a 91.99 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 12.10% of the company's stock.

CAVA Group Price Performance

CAVA traded up $5.69 on Wednesday, reaching $147.53. 2,386,348 shares of the stock were exchanged, compared to its average volume of 2,770,838. The company's 50-day moving average price is $135.91 and its 200 day moving average price is $110.32. The firm has a market capitalization of $16.90 billion, a PE ratio of 311.09 and a beta of 2.93. CAVA Group, Inc. has a fifty-two week low of $31.47 and a fifty-two week high of $172.43.

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

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.