Eagle Asset Management Inc. Grows Stock Holdings in CAVA Group, Inc. (NYSE:CAVA)

Eagle Asset Management Inc. increased its stake in shares of CAVA Group, Inc. (NYSE:CAVA - Free Report) by 233.4% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 398,991 shares of the company's stock after purchasing an additional 279,306 shares during the period. Eagle Asset Management Inc. owned approximately 0.35% of CAVA Group worth $49,415,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently made changes to their positions in CAVA. CIBC Asset Management Inc grew its position in CAVA Group by 3.5% during the third quarter. CIBC Asset Management Inc now owns 3,287 shares of the company's stock valued at $407,000 after buying an additional 110 shares during the period. Farther Finance Advisors LLC grew its position in CAVA Group by 6.3% during the third quarter. Farther Finance Advisors LLC now owns 1,916 shares of the company's stock valued at $237,000 after buying an additional 113 shares during the period. GAMMA Investing LLC grew its position in CAVA Group by 68.3% during the third quarter. GAMMA Investing LLC now owns 308 shares of the company's stock valued at $38,000 after buying an additional 125 shares during the period. Dimensional Fund Advisors LP grew its position in CAVA Group by 0.5% during the second quarter. Dimensional Fund Advisors LP now owns 39,154 shares of the company's stock valued at $3,632,000 after buying an additional 184 shares during the period. Finally, Jaffetilchin Investment Partners LLC grew its position in CAVA Group by 4.2% during the second quarter. Jaffetilchin Investment Partners LLC now owns 6,907 shares of the company's stock valued at $641,000 after buying an additional 278 shares during the period. 73.15% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, Director Theodoros Xenohristos sold 98,490 shares of the firm's stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $125.77, for a total value of $12,387,087.30. Following the sale, the director now directly owns 424,846 shares in the company, valued at approximately $53,432,881.42. This trade represents a 18.82 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Brett Schulman sold 201,504 shares of the firm's stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $125.53, for a total transaction of $25,294,797.12. Following the completion of the sale, the chief executive officer now owns 702,590 shares in the company, valued at $88,196,122.70. This represents a 22.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 334,994 shares of company stock worth $42,543,534 in the last three months. Corporate insiders own 12.10% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on CAVA. Sanford C. Bernstein began coverage on shares of CAVA Group in a research report on Wednesday. They issued a "market perform" rating and a $145.00 price target for the company. UBS Group initiated coverage on shares of CAVA Group in a research report on Friday, September 27th. They set a "neutral" rating and a $135.00 target price for the company. William Blair restated an "outperform" rating on shares of CAVA Group in a research report on Wednesday, November 13th. JPMorgan Chase & Co. upped their target price on shares of CAVA Group from $90.00 to $110.00 and gave the stock a "neutral" rating in a research report on Wednesday, November 13th. Finally, Stifel Nicolaus upped their target price on shares of CAVA Group from $118.00 to $175.00 and gave the stock a "buy" rating in a research report on Wednesday, November 13th. Eight analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $143.80.

CAVA Group Price Performance

Shares of CAVA Group stock opened at $144.83 on Friday. CAVA Group, Inc. has a 1 year low of $31.47 and a 1 year high of $172.43. The firm's 50-day moving average is $133.21 and its two-hundred day moving average is $106.20. The stock has a market cap of $16.59 billion, a price-to-earnings ratio of 314.85 and a beta of 3.23.

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. CAVA Group had a net margin of 5.88% and a return on equity of 9.10%. The company had revenue of $243.82 million for the quarter, compared to analysts' expectations of $233.05 million. During the same period in the prior year, the business earned $0.06 EPS. The firm's quarterly revenue was up 38.9% on a year-over-year basis. On average, equities analysts expect that CAVA Group, Inc. will post 0.5 earnings per share for the current 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.

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