Geode Capital Management LLC Boosts Stock Holdings in CAVA Group, Inc. (NYSE:CAVA)

Geode Capital Management LLC increased its holdings in CAVA Group, Inc. (NYSE:CAVA - Free Report) by 121.0% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,222,834 shares of the company's stock after buying an additional 669,599 shares during the quarter. Geode Capital Management LLC owned about 1.07% of CAVA Group worth $151,492,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the business. Conway Capital Management Inc. purchased a new position in CAVA Group during the third quarter valued at approximately $5,524,000. M&T Bank Corp raised its position in shares of CAVA Group by 75.2% in the third quarter. M&T Bank Corp now owns 6,320 shares of the company's stock worth $783,000 after acquiring an additional 2,712 shares during the period. Nomura Asset Management Co. Ltd. purchased a new stake in shares of CAVA Group during the 3rd quarter worth about $285,000. MML Investors Services LLC acquired a new stake in shares of CAVA Group during the 3rd quarter valued at about $288,000. Finally, XTX Topco Ltd purchased a new position in CAVA Group during the third quarter worth approximately $828,000. 73.15% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, Director Ronald M. Shaich sold 622,549 shares of the stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $149.40, for a total transaction of $93,008,820.60. Following the completion of the transaction, the director now owns 6,307 shares of the company's stock, valued at approximately $942,265.80. This trade represents a 99.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Karen Kochevar sold 15,000 shares of the business's stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $140.00, for a total value of $2,100,000.00. Following the completion of the sale, the director now directly owns 1,307 shares in the company, valued at approximately $182,980. The trade was a 91.99 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 652,549 shares of company stock valued at $97,242,271 over the last quarter. 12.10% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

CAVA has been the subject of a number of recent analyst reports. Jefferies Financial Group boosted their price objective on CAVA Group from $94.00 to $117.00 and gave the company a "buy" rating in a research report on Friday, August 23rd. Loop Capital boosted their price target on shares of CAVA Group from $122.00 to $147.00 and gave the stock a "hold" rating in a report on Thursday, November 14th. Stifel Nicolaus increased their price objective on shares of CAVA Group from $118.00 to $175.00 and gave the company a "buy" rating in a report on Wednesday, November 13th. TD Securities boosted their target price on shares of CAVA Group from $115.00 to $130.00 and gave the stock a "buy" rating in a research note on Tuesday, September 24th. Finally, Robert W. Baird raised their price target on shares of CAVA Group from $125.00 to $148.00 and gave the company an "outperform" rating in a research note on Monday, November 4th. Eight equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $143.80.

CAVA Group Trading Down 2.7 %

NYSE:CAVA traded down $3.39 during trading hours on Tuesday, hitting $123.40. The company had a trading volume of 1,920,570 shares, compared to its average volume of 2,791,971. CAVA Group, Inc. has a 1 year low of $39.05 and a 1 year high of $172.43. The company has a 50-day moving average of $137.68 and a 200 day moving average of $113.61. The company has a market cap of $14.14 billion, a P/E ratio of 269.20 and a beta of 2.93.

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

CAVA Group Company 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.