Principal Financial Group Inc. Has $12.11 Million Stock Holdings in CAVA Group, Inc. (NYSE:CAVA)

Principal Financial Group Inc. lessened its stake in shares of CAVA Group, Inc. (NYSE:CAVA - Free Report) by 18.0% in the third quarter, according to its most recent filing with the SEC. The fund owned 97,750 shares of the company's stock after selling 21,389 shares during the period. Principal Financial Group Inc. owned about 0.09% of CAVA Group worth $12,106,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Nwam LLC lifted its holdings in shares of CAVA Group by 2.6% during the third quarter. Nwam LLC now owns 3,368 shares of the company's stock valued at $417,000 after purchasing an additional 85 shares during the last quarter. CIBC Asset Management Inc boosted its holdings in shares of CAVA Group by 3.5% in the third quarter. CIBC Asset Management Inc now owns 3,287 shares of the company's stock worth $407,000 after buying an additional 110 shares during the period. Farther Finance Advisors LLC increased its position in shares of CAVA Group by 6.3% in the third quarter. Farther Finance Advisors LLC now owns 1,916 shares of the company's stock worth $237,000 after acquiring an additional 113 shares in the last quarter. GAMMA Investing LLC raised its holdings in shares of CAVA Group by 68.3% during the third 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 period. Finally, Dimensional Fund Advisors LP lifted its position in shares of CAVA Group by 0.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 39,154 shares of the company's stock valued at $3,632,000 after acquiring an additional 184 shares in the last quarter. 73.15% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on CAVA shares. Argus lifted their price objective on shares of CAVA Group from $104.00 to $128.00 and gave the stock a "buy" rating in a research report on Wednesday, September 11th. Sanford C. Bernstein assumed coverage on CAVA Group in a research report on Wednesday, November 20th. They set a "market perform" rating and a $145.00 price target on the stock. Morgan Stanley raised their price objective 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. Stifel Nicolaus upped their target price on CAVA Group from $118.00 to $175.00 and gave the company a "buy" rating in a report on Wednesday, November 13th. Finally, TD Securities increased their price target on shares of CAVA Group from $115.00 to $130.00 and gave the stock a "buy" rating in a research report on Tuesday, September 24th. Eight investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $143.80.

CAVA Group Trading Down 2.5 %

CAVA Group stock traded down $2.85 during trading hours on Monday, reaching $111.52. 2,048,109 shares of the company were exchanged, compared to its average volume of 2,771,753. CAVA Group, Inc. has a 12 month low of $39.05 and a 12 month high of $172.43. The firm has a market cap of $12.78 billion, a price-to-earnings ratio of 242.43 and a beta of 2.93. The stock has a 50-day moving average of $134.43 and a 200 day moving average of $115.59.

CAVA Group (NYSE:CAVA - Get Free Report) last announced its earnings results on Tuesday, November 12th. The company reported $0.15 EPS for the quarter, topping the consensus estimate of $0.11 by $0.04. CAVA Group had a net margin of 5.88% and a return on equity of 9.10%. The firm had revenue of $243.82 million for the quarter, compared to the consensus estimate of $233.05 million. During the same quarter last year, the firm posted $0.06 EPS. The business's quarterly revenue was up 38.9% on a year-over-year basis. As a group, research analysts forecast that CAVA Group, Inc. will post 0.5 EPS for the current year.

Insider Buying and Selling

In other news, Director Ronald M. Shaich sold 622,549 shares of the company's stock in a transaction dated Monday, December 9th. The shares were sold at an average price of $149.40, for a total transaction of $93,008,820.60. Following the completion of the transaction, the director now owns 6,307 shares of the company's stock, valued at approximately $942,265.80. This represents a 99.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Karen Kochevar sold 15,000 shares of CAVA Group stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $142.23, for a total value of $2,133,450.00. Following the sale, the director now directly owns 1,307 shares in the company, valued at approximately $185,894.61. This trade represents a 91.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In 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 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.