ING Groep NV Purchases Shares of 143,300 CAVA Group, Inc. (NYSE:CAVA)

ING Groep NV purchased a new position in shares of CAVA Group, Inc. (NYSE:CAVA - Free Report) during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 143,300 shares of the company's stock, valued at approximately $17,748,000. ING Groep NV owned approximately 0.13% of CAVA Group at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. SpiderRock Advisors LLC raised its holdings in shares of CAVA Group by 8.9% in the 3rd quarter. SpiderRock Advisors LLC now owns 479,319 shares of the company's stock valued at $59,364,000 after purchasing an additional 39,319 shares during the period. Xponance Inc. grew its stake in CAVA Group by 95.2% in the 2nd quarter. Xponance Inc. now owns 9,846 shares of the company's stock valued at $913,000 after buying an additional 4,803 shares during the last quarter. PFG Investments LLC grew its stake in CAVA Group by 36.8% in the 3rd quarter. PFG Investments LLC now owns 15,907 shares of the company's stock valued at $1,970,000 after buying an additional 4,275 shares during the last quarter. Intech Investment Management LLC acquired a new position in CAVA Group in the 2nd quarter valued at about $1,728,000. Finally, Aigen Investment Management LP acquired a new position in CAVA Group in the 3rd quarter valued at about $1,293,000. 73.15% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

CAVA has been the topic of a number of research reports. Morgan Stanley upped their price target on shares of CAVA Group from $123.00 to $135.00 and gave the company an "equal weight" rating in a research note on Thursday. Jefferies Financial Group raised their target price on shares of CAVA Group from $94.00 to $117.00 and gave the stock a "buy" rating in a report on Friday, August 23rd. Citigroup raised their target price on shares of CAVA Group from $140.00 to $163.00 and gave the stock a "neutral" rating in a report on Wednesday. Argus raised their target price on shares of CAVA Group from $104.00 to $128.00 and gave the stock a "buy" rating in a report on Wednesday, September 11th. Finally, Barclays raised their target price on shares of CAVA Group from $113.00 to $142.00 and gave the stock an "equal weight" rating in a report on Wednesday. Eight equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, CAVA Group presently has a consensus rating of "Moderate Buy" and a consensus target price of $143.71.

CAVA Group Trading Up 2.1 %

CAVA Group stock traded up $2.89 during mid-day trading on Friday, reaching $141.23. The company had a trading volume of 3,968,069 shares, compared to its average volume of 2,763,479. CAVA Group, Inc. has a fifty-two week low of $31.47 and a fifty-two week high of $172.43. The company has a market cap of $16.15 billion, a P/E ratio of 307.02 and a beta of 3.23. The business has a fifty day simple moving average of $131.69 and a 200 day simple moving average of $104.24.

CAVA Group (NYSE:CAVA - Get Free Report) last issued its quarterly earnings results on Tuesday, November 12th. The company reported $0.15 EPS for the quarter, topping analysts' consensus estimates 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 9.23%. CAVA Group's revenue was up 38.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.06 earnings per share. Research analysts forecast that CAVA Group, Inc. will post 0.46 EPS for the current year.

Insider Transactions at CAVA Group

In related news, CFO Tricia K. Tolivar sold 5,000 shares of the business's stock in a transaction on Monday, August 26th. The shares were sold at an average price of $125.64, for a total value of $628,200.00. Following the transaction, the chief financial officer now owns 292,600 shares in the company, valued at $36,762,264. The trade was a 1.68 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Theodoros Xenohristos sold 98,490 shares of the business's stock in a transaction on Monday, August 26th. The shares were sold at an average price of $125.77, for a total transaction of $12,387,087.30. Following the completion of the transaction, the director now owns 424,846 shares in the company, valued at approximately $53,432,881.42. The trade was a 18.82 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 304,994 shares of company stock worth $38,310,084. Company 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.