Sei Investments Co. Grows Stake in CAVA Group, Inc. (NYSE:CAVA)

Sei Investments Co. grew its holdings in shares of CAVA Group, Inc. (NYSE:CAVA - Free Report) by 131.3% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 58,928 shares of the company's stock after acquiring an additional 33,451 shares during the period. Sei Investments Co. owned about 0.05% of CAVA Group worth $6,647,000 as of its most recent SEC filing.

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

Insider Buying and Selling

In other CAVA Group news, CAO Adam David Phillips sold 615 shares of the stock in a transaction dated Monday, January 27th. The shares were sold at an average price of $124.39, for a total value of $76,499.85. Following the completion of the sale, the chief accounting officer now owns 10,884 shares in the company, valued at approximately $1,353,860.76. This trade represents a 5.35 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Theodoros Xenohristos sold 851 shares of CAVA Group stock in a transaction that occurred 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 directly owns 358,995 shares in the company, valued at approximately $42,785,024.10. This represents a 0.24 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 29,235 shares of company stock worth $3,514,101. 12.10% of the stock is owned by corporate insiders.

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Analyst Upgrades and Downgrades

CAVA has been the topic of several recent analyst reports. UBS Group dropped their target price on shares of CAVA Group from $160.00 to $125.00 and set a "neutral" rating on the stock in a report on Tuesday, January 7th. William Blair reissued an "outperform" rating on shares of CAVA Group in a research note on Wednesday, February 26th. Loop Capital decreased their target price on CAVA Group from $147.00 to $100.00 and set a "hold" rating for the company in a research note on Thursday, February 27th. Citigroup lowered their target price on CAVA Group from $163.00 to $140.00 and set a "neutral" rating for the company in a report on Friday, February 21st. Finally, TD Securities cut their price target on CAVA Group from $150.00 to $130.00 and set a "buy" rating on the stock in a report on Wednesday, February 26th. 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 $130.25.

CAVA Group Price Performance

Shares of NYSE CAVA traded down $8.88 during mid-day trading on Friday, reaching $75.30. 8,153,045 shares of the company's stock traded hands, compared to its average volume of 3,072,028. The business has a 50-day simple moving average of $104.28 and a 200 day simple moving average of $120.60. The stock has a market cap of $8.70 billion, a P/E ratio of 163.70 and a beta of 3.33. CAVA Group, Inc. has a 1-year low of $58.22 and a 1-year high of $172.43.

CAVA Group (NYSE:CAVA - Get Free Report) last released its quarterly 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). CAVA Group had a net margin of 5.88% and a return on equity of 9.10%. The company had revenue of $227.40 million for the quarter, compared to analyst estimates of $223.34 million. Equities research analysts anticipate that CAVA Group, Inc. will post 0.5 earnings per share for the current fiscal 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.