State of New Jersey Common Pension Fund D Buys 8,035 Shares of CAVA Group, Inc. (NYSE:CAVA)

State of New Jersey Common Pension Fund D grew its stake in shares of CAVA Group, Inc. (NYSE:CAVA - Free Report) by 36.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 29,897 shares of the company's stock after purchasing an additional 8,035 shares during the period. State of New Jersey Common Pension Fund D's holdings in CAVA Group were worth $3,372,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently made changes to their positions in CAVA. Jennison Associates LLC raised its stake in CAVA Group by 36,658.7% during the 4th quarter. Jennison Associates LLC now owns 2,461,732 shares of the company's stock worth $277,683,000 after buying an additional 2,455,035 shares during the period. Geode Capital Management LLC increased its holdings in shares of CAVA Group by 121.0% during the third quarter. Geode Capital Management LLC now owns 1,222,834 shares of the company's stock valued at $151,492,000 after acquiring an additional 669,599 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of CAVA Group by 262.8% during the third quarter. Charles Schwab Investment Management Inc. now owns 516,092 shares of the company's stock worth $63,918,000 after purchasing an additional 373,835 shares during the period. Two Sigma Advisers LP lifted its holdings 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 in the last quarter. Finally, State Street Corp grew its position in 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 period. Institutional investors and hedge funds own 73.15% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on CAVA shares. Barclays lowered their price objective on shares of CAVA Group from $142.00 to $127.00 and set an "equal weight" rating on the stock in a report on Tuesday, January 7th. Robert W. Baird boosted their target price on shares of CAVA Group from $125.00 to $148.00 and gave the stock an "outperform" rating in a research report on Monday, November 4th. Morgan Stanley raised their price target on shares of CAVA Group from $123.00 to $135.00 and gave the company an "equal weight" rating in a research report on Thursday, November 14th. Citigroup decreased their price objective on CAVA Group from $163.00 to $140.00 and set a "neutral" rating for the company in a report on Friday. Finally, Piper Sandler raised their target price on CAVA Group from $100.00 to $142.00 and gave the company a "neutral" rating in a report on Friday, November 15th. Eight analysts have rated the stock with a hold rating and eight have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $140.60.

CAVA Group Price Performance

Shares of NYSE CAVA traded down $10.42 during mid-day trading on Friday, reaching $108.18. 2,844,519 shares of the company's stock were exchanged, compared to its average volume of 2,093,864. CAVA Group, Inc. has a 52 week low of $48.55 and a 52 week high of $172.43. The firm has a 50-day moving average price of $123.37 and a two-hundred day moving average price of $124.97. The firm has a market capitalization of $12.40 billion, a price-to-earnings ratio of 234.81 and a beta of 3.25.

Insider Buying and Selling

In other 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 sale, the chief accounting officer now directly owns 10,884 shares of the company's stock, valued at approximately $1,353,860.76. This represents a 5.35 % 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, CFO Tricia K. Tolivar sold 2,086 shares of the firm's stock in a transaction on Tuesday, January 21st. The shares were sold at an average price of $119.18, for a total transaction of $248,609.48. Following the completion of the transaction, the chief financial officer now directly owns 235,592 shares of the company's stock, valued at approximately $28,077,854.56. The trade was a 0.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 651,784 shares of company stock valued at $96,522,922. 12.10% of the stock is owned by company insiders.

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.