Independent Advisor Alliance Buys 15,481 Shares of CAVA Group, Inc. (NYSE:CAVA)

Independent Advisor Alliance increased its position in CAVA Group, Inc. (NYSE:CAVA - Free Report) by 155.2% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 25,455 shares of the company's stock after buying an additional 15,481 shares during the quarter. Independent Advisor Alliance's holdings in CAVA Group were worth $3,153,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its position in shares of CAVA Group by 215.7% in the 1st quarter. Vanguard Group Inc. now owns 4,944,036 shares of the company's stock worth $346,330,000 after buying an additional 3,377,840 shares during the period. Renaissance Technologies LLC grew its stake 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 worth $82,770,000 after buying an additional 451,800 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in CAVA Group by 262.8% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 516,092 shares of the company's stock valued at $63,918,000 after buying an additional 373,835 shares in the last quarter. Eagle Asset Management Inc. raised its stake in CAVA Group by 233.4% during the third quarter. Eagle Asset Management Inc. now owns 398,991 shares of the company's stock valued at $49,415,000 after buying an additional 279,306 shares during the last quarter. Finally, Driehaus Capital Management LLC boosted its holdings in CAVA Group by 51.8% in the second quarter. Driehaus Capital Management LLC now owns 732,603 shares of the company's stock worth $67,949,000 after acquiring an additional 250,110 shares in the last quarter. 73.15% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on CAVA shares. Morgan Stanley increased their price target on shares of CAVA Group from $123.00 to $135.00 and gave the company an "equal weight" rating in a report on Thursday, November 14th. Citigroup raised their price target on shares of CAVA Group from $140.00 to $163.00 and gave the company a "neutral" rating in a report on Wednesday, November 13th. Jefferies Financial Group boosted their price objective on shares of CAVA Group from $94.00 to $117.00 and gave the company a "buy" rating in a report on Friday, August 23rd. Robert W. Baird lifted their target price on shares of CAVA Group from $125.00 to $148.00 and gave the stock an "outperform" rating in a research report on Monday, November 4th. Finally, William Blair restated an "outperform" rating on shares of CAVA Group in a research note on Wednesday, November 13th. Eight investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $143.80.

Insider Buying and Selling at CAVA Group

In other CAVA Group news, Director Karen Kochevar sold 15,000 shares of the stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $142.23, for a total transaction of $2,133,450.00. Following the transaction, the director now directly owns 1,307 shares in the company, valued at $185,894.61. This represents a 91.99 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 12.10% of the stock is currently owned by corporate insiders.

CAVA Group Price Performance

Shares of CAVA Group stock traded up $0.96 on Tuesday, reaching $143.50. The company had a trading volume of 1,929,268 shares, compared to its average volume of 2,789,377. The firm has a market cap of $16.44 billion, a price-to-earnings ratio of 309.91 and a beta of 3.23. The firm's 50-day moving average price is $134.05 and its two-hundred day moving average price is $107.62. 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 released 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 firm had revenue of $243.82 million during the quarter, compared to analyst estimates of $233.05 million. During the same quarter last year, the business earned $0.06 EPS. The business's revenue was up 38.9% on a year-over-year basis. As a group, analysts anticipate that CAVA Group, Inc. will post 0.5 EPS 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.