Jennison Associates LLC Acquires 2,455,035 Shares of CAVA Group, Inc. (NYSE:CAVA)

Jennison Associates LLC raised its holdings in CAVA Group, Inc. (NYSE:CAVA - Free Report) by 36,658.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 2,461,732 shares of the company's stock after acquiring an additional 2,455,035 shares during the quarter. Jennison Associates LLC owned about 2.15% of CAVA Group worth $277,683,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. GAMMA Investing LLC increased its stake in shares of CAVA Group by 68.3% in 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 last quarter. R Squared Ltd bought a new stake in CAVA Group in the fourth quarter valued at approximately $49,000. Sunbelt Securities Inc. acquired a new stake in CAVA Group in the third quarter worth $50,000. Burkett Financial Services LLC bought a new position in shares of CAVA Group during the fourth quarter worth $56,000. Finally, Geneos Wealth Management Inc. acquired a new position in shares of CAVA Group in the 4th quarter valued at $63,000. Institutional investors and hedge funds own 73.15% of the company's stock.

Analysts Set New Price Targets

Several brokerages recently commented on CAVA. TD Cowen raised their price objective on CAVA Group from $130.00 to $150.00 and gave the stock a "buy" rating in a research note on Wednesday, November 13th. Morgan Stanley raised their price target on CAVA Group from $123.00 to $135.00 and gave the stock an "equal weight" rating in a research report on Thursday, November 14th. Citigroup lifted their price objective on CAVA Group from $140.00 to $163.00 and gave the company a "neutral" rating in a report on Wednesday, November 13th. Loop Capital increased their target price on CAVA Group from $122.00 to $147.00 and gave the stock a "hold" rating in a research note on Thursday, November 14th. Finally, Robert W. Baird lifted 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 research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, CAVA Group currently has a consensus rating of "Moderate Buy" and a consensus target price of $142.13.

CAVA Group Stock Down 2.9 %

Shares of NYSE:CAVA opened at $134.92 on Monday. CAVA Group, Inc. has a 12-month low of $46.56 and a 12-month high of $172.43. The business has a 50 day moving average of $125.06 and a 200-day moving average of $120.41. The stock has a market cap of $15.46 billion, a PE ratio of 293.31 and a beta of 3.25.

CAVA Group (NYSE:CAVA - Get Free Report) last released 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. CAVA Group had a net margin of 5.88% and a return on equity of 9.10%. The business had revenue of $243.82 million for the quarter, compared to analyst estimates of $233.05 million. During the same period last year, the firm earned $0.06 earnings per share. CAVA Group's revenue for the quarter was up 38.9% compared to the same quarter last year. Equities research analysts expect that CAVA Group, Inc. will post 0.5 earnings per share for the current year.

Insider Activity at CAVA Group

In related news, insider Kenneth Robert Bertram sold 678 shares of the business's stock in a transaction on Monday, January 27th. The shares were sold at an average price of $124.39, for a total value of $84,336.42. Following the sale, the insider now owns 57,312 shares of the company's stock, valued at $7,129,039.68. The trade was a 1.17 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CAO Adam David Phillips sold 615 shares of the stock in a transaction on Monday, January 27th. The shares were sold at an average price of $124.39, for a total value of $76,499.85. Following the completion of the sale, the chief accounting officer now owns 10,884 shares of the company's stock, valued at $1,353,860.76. The trade was a 5.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 681,784 shares of company stock valued at $100,756,372 over the last three months. 12.10% of the stock is owned by insiders.

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.

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