Lord Abbett & CO. LLC Purchases 19,493 Shares of CAVA Group, Inc. (NYSE:CAVA)

Lord Abbett & CO. LLC grew its holdings in shares of CAVA Group, Inc. (NYSE:CAVA - Free Report) by 1.5% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,358,250 shares of the company's stock after purchasing an additional 19,493 shares during the period. Lord Abbett & CO. LLC owned approximately 1.19% of CAVA Group worth $168,219,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of CAVA. Cetera Advisors LLC bought a new stake in CAVA Group during the first quarter worth approximately $301,000. Wealth Enhancement Advisory Services LLC lifted its holdings in shares of CAVA Group by 130.1% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 72,787 shares of the company's stock valued at $6,751,000 after buying an additional 41,154 shares during the period. Miracle Mile Advisors LLC boosted its stake in CAVA Group by 4.7% during the second quarter. Miracle Mile Advisors LLC now owns 7,927 shares of the company's stock valued at $735,000 after buying an additional 353 shares in the last quarter. Brookstone Capital Management acquired a new position in CAVA Group during the second quarter worth about $856,000. Finally, Raymond James & Associates raised its position in CAVA Group by 120.1% in the second quarter. Raymond James & Associates now owns 170,791 shares of the company's stock worth $15,841,000 after acquiring an additional 93,177 shares in the last quarter. 73.15% of the stock is currently owned by institutional investors.

Insider Activity at CAVA Group

In related news, Director Karen Kochevar sold 15,000 shares of CAVA Group stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $142.23, for a total value of $2,133,450.00. Following the completion of the sale, the director now owns 1,307 shares of the company's stock, valued at approximately $185,894.61. The trade was a 91.99 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Ronald M. Shaich sold 622,549 shares of the stock in a transaction on Monday, December 9th. The stock was sold at an average price of $149.40, for a total transaction of $93,008,820.60. Following the transaction, the director now directly owns 6,307 shares in the company, valued at $942,265.80. The trade was a 99.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 652,549 shares of company stock valued at $97,242,271. Insiders own 12.10% of the company's stock.

CAVA Group Stock Performance

Shares of NYSE CAVA traded down $1.32 during mid-day trading on Friday, reaching $124.05. The company had a trading volume of 2,470,396 shares, compared to its average volume of 2,796,221. The stock has a fifty day moving average of $137.67 and a two-hundred day moving average of $113.20. CAVA Group, Inc. has a 12-month low of $39.05 and a 12-month high of $172.43. The company has a market capitalization of $14.21 billion, a price-to-earnings ratio of 269.67 and a beta of 2.93.

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 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 company had revenue of $243.82 million during the quarter, compared to the consensus estimate of $233.05 million. During the same quarter in the prior year, the firm earned $0.06 EPS. The company's revenue was up 38.9% compared to the same quarter last year. Sell-side analysts forecast that CAVA Group, Inc. will post 0.5 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the stock. Wedbush raised their price objective on shares of CAVA Group from $155.00 to $190.00 and gave the company an "outperform" rating in a research report on Wednesday, November 13th. Barclays lifted their price target on shares of CAVA Group from $113.00 to $142.00 and gave the stock an "equal weight" rating in a research report on Wednesday, November 13th. Jefferies Financial Group upped their price target on CAVA Group from $94.00 to $117.00 and gave the company a "buy" rating in a report on Friday, August 23rd. Sanford C. Bernstein started coverage on CAVA Group in a research note on Wednesday, November 20th. They set a "market perform" rating and a $145.00 price objective for the company. Finally, Robert W. Baird boosted their target price on CAVA Group from $125.00 to $148.00 and gave the stock an "outperform" rating in a research report on Monday, November 4th. Eight investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, CAVA Group currently has an average rating of "Moderate Buy" and an average target price of $143.80.

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.