CAVA Group, Inc. (NYSE:CAVA) Position Increased by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. increased its position in CAVA Group, Inc. (NYSE:CAVA - Free Report) by 262.8% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 516,092 shares of the company's stock after purchasing an additional 373,835 shares during the quarter. Charles Schwab Investment Management Inc. owned 0.45% of CAVA Group worth $63,918,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in the company. Renaissance Technologies LLC raised its position in shares of CAVA Group by 102.5% in 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 boosted its stake in CAVA Group by 51.8% during the 2nd quarter. Driehaus Capital Management LLC now owns 732,603 shares of the company's stock valued at $67,949,000 after acquiring an additional 250,110 shares during the last quarter. Marshall Wace LLP grew its holdings in CAVA Group by 130.5% during the 2nd quarter. Marshall Wace LLP now owns 420,577 shares of the company's stock worth $39,009,000 after acquiring an additional 238,087 shares in the last quarter. ING Groep NV bought a new stake in shares of CAVA Group in the 3rd quarter worth about $17,748,000. Finally, Nepsis Inc. acquired a new stake in shares of CAVA Group in the 2nd quarter valued at about $13,090,000. 73.15% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on CAVA. Sanford C. Bernstein began coverage on CAVA Group in a report on Wednesday, November 20th. They issued a "market perform" rating and a $145.00 price objective for the company. TD Cowen boosted their price target on CAVA Group from $130.00 to $150.00 and gave the company a "buy" rating in a report on Wednesday, November 13th. Wedbush raised their price objective on CAVA Group from $155.00 to $190.00 and gave the stock an "outperform" rating in a research note on Wednesday, November 13th. Jefferies Financial Group boosted their target price on shares of CAVA Group from $94.00 to $117.00 and gave the company a "buy" rating in a research note on Friday, August 23rd. Finally, Citigroup raised their price target on shares of CAVA Group from $140.00 to $163.00 and gave the stock a "neutral" rating in a research report on Wednesday, November 13th. Eight equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company's stock. According to MarketBeat, CAVA Group presently has a consensus rating of "Moderate Buy" and an average target price of $143.80.

Insiders Place Their Bets

In other news, Director Karen Kochevar sold 15,000 shares of the business's stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $142.23, for a total value of $2,133,450.00. Following the sale, the director now owns 1,307 shares of the company's stock, valued at approximately $185,894.61. The trade was a 91.99 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 12.10% of the stock is owned by insiders.

CAVA Group Trading Down 0.2 %

CAVA traded down $0.30 during trading hours on Friday, hitting $140.90. The company's stock had a trading volume of 1,054,106 shares, compared to its average volume of 2,777,238. The company has a 50-day simple moving average of $135.37 and a 200 day simple moving average of $108.99. The firm has a market capitalization of $16.14 billion, a PE ratio of 306.39 and a beta of 3.23. 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 quarterly earnings results on Tuesday, November 12th. The company reported $0.15 EPS for the quarter, beating analysts' consensus estimates of $0.11 by $0.04. The company had revenue of $243.82 million for the quarter, compared to analyst estimates of $233.05 million. CAVA Group had a return on equity of 9.10% and a net margin of 5.88%. The company's quarterly revenue was up 38.9% compared to the same quarter last year. During the same period last year, the company earned $0.06 earnings per share. Research analysts expect 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.