Renaissance Technologies LLC Decreases Stock Holdings in CAVA Group, Inc. (NYSE:CAVA)

Renaissance Technologies LLC cut its holdings in CAVA Group, Inc. (NYSE:CAVA - Free Report) by 13.1% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,567,250 shares of the company's stock after selling 235,765 shares during the period. Renaissance Technologies LLC owned 1.37% of CAVA Group worth $176,786,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in CAVA. Vanguard Group Inc. boosted its stake in CAVA Group by 20.4% during the fourth quarter. Vanguard Group Inc. now owns 8,011,602 shares of the company's stock worth $903,709,000 after buying an additional 1,357,187 shares in the last quarter. FMR LLC boosted its position in shares of CAVA Group by 14.1% during the 4th quarter. FMR LLC now owns 3,976,353 shares of the company's stock valued at $448,533,000 after acquiring an additional 491,320 shares in the last quarter. Jennison Associates LLC increased its stake in CAVA Group by 36,658.7% in the fourth quarter. Jennison Associates LLC now owns 2,461,732 shares of the company's stock valued at $277,683,000 after acquiring an additional 2,455,035 shares during the period. Federated Hermes Inc. raised its position in CAVA Group by 33.0% in the fourth quarter. Federated Hermes Inc. now owns 1,464,987 shares of the company's stock worth $165,243,000 after purchasing an additional 363,814 shares in the last quarter. Finally, Lord Abbett & CO. LLC lifted its stake in CAVA Group by 1.5% during the third quarter. Lord Abbett & CO. LLC now owns 1,358,250 shares of the company's stock worth $168,219,000 after purchasing an additional 19,493 shares during the period. Institutional investors and hedge funds own 73.15% of the company's stock.

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Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on CAVA. Robert W. Baird set a $105.00 price target on CAVA Group and gave the company an "outperform" rating in a research report on Monday, April 7th. Barclays lowered their target price on shares of CAVA Group from $127.00 to $104.00 and set an "equal weight" rating on the stock in a report on Wednesday, February 26th. Loop Capital dropped their target price on shares of CAVA Group from $147.00 to $100.00 and set a "hold" rating for the company in a research report on Thursday, February 27th. William Blair restated an "outperform" rating on shares of CAVA Group in a research report on Wednesday, February 26th. Finally, Bank of America initiated coverage on shares of CAVA Group in a report on Monday, March 31st. They set a "buy" rating and a $112.00 price objective for the company. Six research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat.com, CAVA Group presently has a consensus rating of "Moderate Buy" and a consensus target price of $127.56.

CAVA Group Stock Up 1.4 %

CAVA traded up $1.24 during trading on Friday, hitting $90.01. The company's stock had a trading volume of 1,748,031 shares, compared to its average volume of 3,096,442. The firm has a market capitalization of $10.40 billion, a P/E ratio of 195.68 and a beta of 3.33. 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 $97.49 and its 200-day moving average price is $118.64.

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 analysts' consensus estimates of $0.06 by ($0.01). The business had revenue of $227.40 million for the quarter, compared to the consensus estimate of $223.34 million. CAVA Group had a net margin of 5.88% and a return on equity of 9.10%. Equities research analysts expect that CAVA Group, Inc. will post 0.5 EPS for the current fiscal year.

Insider Buying and Selling at CAVA Group

In related news, insider Kenneth Robert Bertram sold 678 shares of the stock in a transaction dated Monday, January 27th. The stock was sold at an average price of $124.39, for a total transaction of $84,336.42. Following the sale, the insider now owns 57,312 shares of the company's stock, valued at approximately $7,129,039.68. This represents a 1.17 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO Adam David Phillips sold 615 shares of the firm's stock in a transaction that occurred on Monday, January 27th. The shares were sold at an average price of $124.39, for a total transaction of $76,499.85. Following the completion of the transaction, 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 worth $3,514,101 in the last quarter. 12.10% of the stock is currently owned by company insiders.

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.