CAVA Group, Inc. (NYSE:CAVA) Shares Acquired by Fmr LLC

FMR LLC lifted its position in CAVA Group, Inc. (NYSE:CAVA - Free Report) by 0.9% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 3,485,033 shares of the company's stock after purchasing an additional 29,668 shares during the quarter. FMR LLC owned about 3.05% of CAVA Group worth $431,621,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Jamison Private Wealth Management Inc. purchased a new position in shares of CAVA Group during the 2nd quarter worth approximately $28,000. Nemes Rush Group LLC acquired a new stake in shares of CAVA Group in the second quarter valued at $28,000. Mark Sheptoff Financial Planning LLC purchased a new stake in shares of CAVA Group in the 2nd quarter valued at $36,000. Headlands Technologies LLC acquired a new position in CAVA Group during the 2nd quarter worth about $37,000. Finally, GAMMA Investing LLC boosted its holdings in CAVA Group by 68.3% during the 3rd quarter. GAMMA Investing LLC now owns 308 shares of the company's stock valued at $38,000 after acquiring an additional 125 shares during the period. 73.15% of the stock is currently owned by institutional investors and hedge funds.

CAVA Group Stock Down 0.2 %

CAVA traded down $0.30 on Friday, reaching $140.90. The company had a trading volume of 1,054,106 shares, compared to its average volume of 2,777,238. The stock has a 50-day moving average price of $135.37 and a 200-day moving average price of $109.20. The stock has a market capitalization of $16.14 billion, a PE ratio of 306.30 and a beta of 3.23. CAVA Group, Inc. has a 1 year low of $31.47 and a 1 year high of $172.43.

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

Analyst Upgrades and Downgrades

CAVA has been the topic of a number of recent research reports. Morgan Stanley boosted their price target on shares of CAVA Group from $123.00 to $135.00 and gave the stock an "equal weight" rating in a research note on Thursday, November 14th. William Blair reaffirmed an "outperform" rating on shares of CAVA Group in a research note on Wednesday, November 13th. Piper Sandler raised their price target on shares of CAVA Group from $100.00 to $142.00 and gave the company a "neutral" rating in a research report on Friday, November 15th. TD Securities lifted their target price on CAVA Group from $115.00 to $130.00 and gave the company a "buy" rating in a report on Tuesday, September 24th. Finally, Wedbush upped their price target on CAVA Group from $155.00 to $190.00 and gave the stock an "outperform" rating in a report on Wednesday, November 13th. Eight analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $143.80.

Insider Activity

In other news, Director Karen Kochevar sold 15,000 shares of the company's stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $140.00, for a total transaction of $2,100,000.00. Following the completion of the sale, the director now owns 1,307 shares in the company, valued at $182,980. This represents a 91.99 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 12.10% of the company's stock.

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.