Charles Schwab Investment Management Inc. Raises Position in CAVA Group, Inc. (NYSE:CAVA)

Charles Schwab Investment Management Inc. lifted its stake in CAVA Group, Inc. (NYSE:CAVA - Free Report) by 2.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 527,868 shares of the company's stock after acquiring an additional 11,776 shares during the quarter. Charles Schwab Investment Management Inc. owned approximately 0.46% of CAVA Group worth $59,544,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. FMR LLC increased its stake in shares of CAVA Group by 0.9% during the 3rd quarter. FMR LLC now owns 3,485,033 shares of the company's stock worth $431,621,000 after purchasing an additional 29,668 shares during the last quarter. Jennison Associates LLC raised its position in shares of CAVA Group by 36,658.7% in the fourth quarter. Jennison Associates LLC now owns 2,461,732 shares of the company's stock valued at $277,683,000 after purchasing an additional 2,455,035 shares during the period. Two Sigma Advisers LP lifted its position in CAVA Group by 17.0% during the third quarter. Two Sigma Advisers LP now owns 2,210,900 shares of the company's stock worth $273,820,000 after acquiring an additional 321,800 shares during the last quarter. Lord Abbett & CO. LLC raised its position in shares of CAVA Group by 1.5% in the third quarter. Lord Abbett & CO. LLC now owns 1,358,250 shares of the company's stock valued at $168,219,000 after buying an additional 19,493 shares in the last quarter. Finally, State Street Corp lifted its stake in 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 last quarter. Institutional investors own 73.15% of the company's stock.

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CAVA Group Trading Up 4.9 %

Shares of NYSE:CAVA traded up $3.65 during trading on Friday, reaching $77.72. 1,925,803 shares of the company traded hands, compared to its average volume of 2,956,532. CAVA Group, Inc. has a 52-week low of $58.22 and a 52-week high of $172.43. The business's fifty day moving average is $114.84 and its 200-day moving average is $124.40. The firm has a market capitalization of $8.98 billion, a price-to-earnings ratio of 168.63 and a beta of 3.58.

CAVA Group (NYSE:CAVA - Get Free Report) last announced its quarterly earnings results on Tuesday, February 25th. The company reported $0.05 earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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 return on equity of 9.10% and a net margin of 5.88%. On average, sell-side analysts predict that CAVA Group, Inc. will post 0.5 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CAO Adam David Phillips sold 615 shares of the stock in a transaction 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 transaction, the chief accounting officer now directly owns 10,884 shares of the company's stock, valued at $1,353,860.76. This represents a 5.35 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Theodoros Xenohristos sold 851 shares of the firm's stock in a transaction that occurred on Tuesday, January 21st. The stock was sold at an average price of $119.18, for a total transaction of $101,422.18. Following the completion of the transaction, the insider now directly owns 358,995 shares in the company, valued at approximately $42,785,024.10. The trade was a 0.24 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 29,235 shares of company stock worth $3,514,101 over the last three months. Company insiders own 12.10% of the company's stock.

Analyst Ratings Changes

CAVA has been the topic of a number of recent research reports. TD Securities cut their price target on CAVA Group from $150.00 to $130.00 and set a "buy" rating on the stock in a research note on Wednesday, February 26th. Wedbush reiterated an "outperform" rating and set a $150.00 price target on shares of CAVA Group in a report on Wednesday, February 26th. Loop Capital decreased their price objective on CAVA Group from $147.00 to $100.00 and set a "hold" rating for the company in a report on Thursday, February 27th. Piper Sandler raised CAVA Group from a "neutral" rating to an "overweight" rating and cut their target price for the stock from $142.00 to $115.00 in a report on Friday, February 28th. Finally, William Blair reissued an "outperform" rating on shares of CAVA Group in a research note on Wednesday, February 26th. Seven analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $131.47.

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.