CAVA Group, Inc. (NYSE:CAVA) Position Increased by Neuberger Berman Group LLC

Neuberger Berman Group LLC grew its stake in shares of CAVA Group, Inc. (NYSE:CAVA - Free Report) by 3,123.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 148,617 shares of the company's stock after acquiring an additional 144,006 shares during the period. Neuberger Berman Group LLC owned about 0.13% of CAVA Group worth $16,764,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Howard Financial Services LTD. raised its holdings in shares of CAVA Group by 1.8% during the fourth quarter. Howard Financial Services LTD. now owns 6,194 shares of the company's stock worth $699,000 after purchasing an additional 109 shares during the period. GAMMA Investing LLC boosted its stake in CAVA Group by 37.0% in the fourth quarter. GAMMA Investing LLC now owns 422 shares of the company's stock valued at $48,000 after acquiring an additional 114 shares during the period. Whittier Trust Co. grew its holdings in shares of CAVA Group by 80.9% during the fourth quarter. Whittier Trust Co. now owns 284 shares of the company's stock valued at $32,000 after purchasing an additional 127 shares during the last quarter. Mainstream Capital Management LLC raised its position in shares of CAVA Group by 0.7% during the 4th quarter. Mainstream Capital Management LLC now owns 17,758 shares of the company's stock worth $2,003,000 after purchasing an additional 132 shares during the period. Finally, PSI Advisors LLC lifted its holdings in shares of CAVA Group by 11.3% in the 4th quarter. PSI Advisors LLC now owns 1,473 shares of the company's stock worth $166,000 after purchasing an additional 150 shares during the last quarter. Institutional investors own 73.15% of the company's stock.

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Insiders Place Their Bets

In other news, insider Theodoros Xenohristos sold 851 shares of CAVA Group stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $119.18, for a total transaction of $101,422.18. Following the transaction, the insider now owns 358,995 shares in the company, valued at approximately $42,785,024.10. The trade was a 0.24 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Brett Schulman sold 20,564 shares of the stock in a transaction dated Tuesday, January 21st. The stock was sold at an average price of $119.18, for a total value of $2,450,817.52. Following the completion of the sale, the chief executive officer now directly owns 776,369 shares of the company's stock, valued at approximately $92,527,657.42. This represents a 2.58 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 29,235 shares of company stock worth $3,514,101 over the last ninety days. 12.10% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on CAVA shares. UBS Group dropped their target price on CAVA Group from $160.00 to $125.00 and set a "neutral" rating on the stock in a research report on Tuesday, January 7th. Piper Sandler raised shares of CAVA Group from a "neutral" rating to an "overweight" rating and dropped their price objective for the stock from $142.00 to $115.00 in a report on Friday, February 28th. William Blair reissued an "outperform" rating on shares of CAVA Group in a research note on Wednesday, February 26th. Robert W. Baird set a $105.00 price target on shares of CAVA Group and gave the company an "outperform" rating in a research note on Monday, April 7th. Finally, Barclays reduced their price objective on CAVA Group from $127.00 to $104.00 and set an "equal weight" rating for the company in a research report on Wednesday, February 26th. Six research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat.com, CAVA Group currently has an average rating of "Moderate Buy" and a consensus price target of $127.56.

CAVA Group Stock Down 1.4 %

CAVA Group stock traded down $1.24 during mid-day trading on Tuesday, hitting $87.80. The company's stock had a trading volume of 820,997 shares, compared to its average volume of 3,087,865. CAVA Group, Inc. has a twelve month low of $58.22 and a twelve month high of $172.43. The stock's fifty day moving average price is $96.42 and its two-hundred day moving average price is $118.34. The stock has a market capitalization of $10.15 billion, a P/E ratio of 190.87 and a beta of 3.33.

CAVA Group (NYSE:CAVA - Get Free Report) last announced its earnings results on Tuesday, February 25th. The company reported $0.05 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.06 by ($0.01). The company 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%. Equities analysts expect that CAVA Group, Inc. will post 0.5 earnings per share for the current year.

About CAVA Group

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.