Federated Hermes Inc. Has $165.24 Million Stake in CAVA Group, Inc. (NYSE:CAVA)

Federated Hermes Inc. lifted its holdings in shares of CAVA Group, Inc. (NYSE:CAVA - Free Report) by 33.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 1,464,987 shares of the company's stock after acquiring an additional 363,814 shares during the quarter. Federated Hermes Inc. owned 1.28% of CAVA Group worth $165,243,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Vanguard Group Inc. increased its holdings in CAVA Group by 20.4% in the fourth quarter. Vanguard Group Inc. now owns 8,011,602 shares of the company's stock valued at $903,709,000 after buying an additional 1,357,187 shares during the last quarter. Jennison Associates LLC increased its holdings in shares of CAVA Group by 36,658.7% in the 4th quarter. Jennison Associates LLC now owns 2,461,732 shares of the company's stock valued at $277,683,000 after acquiring an additional 2,455,035 shares during the last quarter. Lord Abbett & CO. LLC raised its position in shares of CAVA Group by 1.5% during the 3rd quarter. Lord Abbett & CO. LLC now owns 1,358,250 shares of the company's stock valued at $168,219,000 after acquiring an additional 19,493 shares in the last quarter. 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. Finally, Arrowstreet Capital Limited Partnership boosted its holdings in CAVA Group by 62.8% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 1,246,209 shares of the company's stock worth $140,572,000 after purchasing an additional 480,900 shares during the period. Institutional investors and hedge funds own 73.15% of the company's stock.

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Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the stock. Bank of America assumed coverage on shares of CAVA Group in a report on Monday, March 31st. They issued a "buy" rating and a $112.00 target price on the stock. 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. 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 report on Wednesday, February 26th. Robert W. Baird set a $105.00 price objective on CAVA Group and gave the stock an "outperform" rating in a report on Monday. Finally, Loop Capital decreased their target price on shares of CAVA Group from $147.00 to $100.00 and set a "hold" rating for the company in a research report on Thursday, February 27th. Six analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $127.56.

Insider Buying and Selling at CAVA Group

In other CAVA Group news, CFO Tricia K. Tolivar sold 2,086 shares of CAVA Group stock in a transaction that occurred on Tuesday, January 21st. The shares were sold at an average price of $119.18, for a total value of $248,609.48. Following the completion of the sale, the chief financial officer now directly owns 235,592 shares in the company, valued at $28,077,854.56. The trade was a 0.88 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Brett Schulman sold 20,564 shares of the stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $119.18, for a total transaction of $2,450,817.52. Following the transaction, the chief executive officer now owns 776,369 shares in the company, valued at approximately $92,527,657.42. This trade represents a 2.58 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 29,235 shares of company stock valued at $3,514,101 in the last quarter. Company insiders own 12.10% of the company's stock.

CAVA Group Stock Performance

Shares of CAVA stock traded down $4.35 on Thursday, reaching $87.61. 1,765,197 shares of the company's stock traded hands, compared to its average volume of 3,095,088. The company has a market capitalization of $10.13 billion, a P/E ratio of 189.72 and a beta of 3.33. CAVA Group, Inc. has a 12-month low of $58.22 and a 12-month high of $172.43. The business's 50 day moving average price is $99.52 and its two-hundred day moving average price is $119.16.

CAVA Group (NYSE:CAVA - Get Free Report) last issued its earnings results on Tuesday, February 25th. The company reported $0.05 earnings per share for the quarter, missing analysts' consensus estimates of $0.06 by ($0.01). CAVA Group had a net margin of 5.88% and a return on equity of 9.10%. The business had revenue of $227.40 million during the quarter, compared to analyst estimates of $223.34 million. Research analysts predict 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.