LPL Financial LLC Purchases 28,787 Shares of CAVA Group, Inc. (NYSE:CAVA)

LPL Financial LLC increased its position in shares of CAVA Group, Inc. (NYSE:CAVA - Free Report) by 24.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 145,130 shares of the company's stock after purchasing an additional 28,787 shares during the period. LPL Financial LLC owned 0.13% of CAVA Group worth $16,371,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Jennison Associates LLC raised its holdings in shares of CAVA Group by 36,658.7% in the 4th quarter. Jennison Associates LLC now owns 2,461,732 shares of the company's stock worth $277,683,000 after purchasing an additional 2,455,035 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of CAVA Group by 121.0% in the third quarter. Geode Capital Management LLC now owns 1,222,834 shares of the company's stock valued at $151,492,000 after buying an additional 669,599 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in shares of CAVA Group during the 4th quarter valued at $59,516,000. Two Sigma Advisers LP lifted its position in shares of CAVA Group by 17.0% during the 3rd quarter. Two Sigma Advisers LP now owns 2,210,900 shares of the company's stock valued at $273,820,000 after acquiring an additional 321,800 shares during the last quarter. Finally, State Street Corp boosted its stake in shares of CAVA Group by 33.3% during the 3rd quarter. State Street Corp now owns 1,267,333 shares of the company's stock worth $156,959,000 after acquiring an additional 316,514 shares in the last quarter. 73.15% of the stock is owned by institutional investors.

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Insiders Place Their Bets

In related news, CEO Brett Schulman sold 20,564 shares of CAVA Group stock in a transaction on Tuesday, January 21st. The shares were sold at an average price of $119.18, for a total value of $2,450,817.52. Following the transaction, the chief executive officer now owns 776,369 shares in the company, valued at $92,527,657.42. This trade represents a 2.58 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CAO Adam David Phillips sold 615 shares of the company's stock in a transaction dated Monday, January 27th. The shares were sold at an average price of $124.39, for a total transaction of $76,499.85. Following the sale, the chief accounting officer now owns 10,884 shares of the company's stock, valued at $1,353,860.76. This trade represents a 5.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 29,235 shares of company stock valued at $3,514,101 over the last quarter. Insiders own 12.10% of the company's stock.

CAVA Group Stock Performance

Shares of NYSE CAVA traded down $8.88 during trading hours on Friday, hitting $75.30. The stock had a trading volume of 8,153,045 shares, compared to its average volume of 3,072,028. The firm's 50-day moving average price is $104.28 and its two-hundred day moving average price is $120.58. CAVA Group, Inc. has a 52 week low of $58.22 and a 52 week high of $172.43. The company has a market capitalization of $8.70 billion, a P/E ratio of 163.70 and a beta of 3.33.

CAVA Group (NYSE:CAVA - Get Free Report) last announced its quarterly earnings results on Tuesday, February 25th. The company reported $0.05 EPS for the quarter, missing the consensus estimate of $0.06 by ($0.01). The business had revenue of $227.40 million for the quarter, compared to analyst estimates of $223.34 million. CAVA Group had a return on equity of 9.10% and a net margin of 5.88%. As a group, analysts expect that CAVA Group, Inc. will post 0.5 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on CAVA shares. Loop Capital reduced their target price on CAVA Group from $147.00 to $100.00 and set a "hold" rating for the company in a report on Thursday, February 27th. Citigroup reduced their price objective on shares of CAVA Group from $163.00 to $140.00 and set a "neutral" rating for the company in a research note on Friday, February 21st. Piper Sandler raised shares of CAVA Group from a "neutral" rating to an "overweight" rating and dropped their target price for the stock from $142.00 to $115.00 in a research report on Friday, February 28th. UBS Group reduced their price target on shares of CAVA Group from $160.00 to $125.00 and set a "neutral" rating for the company in a research report on Tuesday, January 7th. Finally, TD Securities lowered their price objective on shares of CAVA Group from $150.00 to $130.00 and set a "buy" rating on the stock in a research report on Wednesday, February 26th. Six analysts have rated the stock with a hold rating and eleven have given a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $130.25.

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.