State Street Corp Boosts Holdings in CAVA Group, Inc. (NYSE:CAVA)

State Street Corp boosted its stake in CAVA Group, Inc. (NYSE:CAVA - Free Report) by 33.3% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,267,333 shares of the company's stock after purchasing an additional 316,514 shares during the quarter. State Street Corp owned about 1.11% of CAVA Group worth $156,959,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in CAVA. Cetera Advisors LLC purchased a new stake in shares of CAVA Group during the 1st quarter worth approximately $301,000. Wealth Enhancement Advisory Services LLC lifted its position in CAVA Group by 130.1% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 72,787 shares of the company's stock valued at $6,751,000 after purchasing an additional 41,154 shares during the last quarter. Miracle Mile Advisors LLC grew its stake in shares of CAVA Group by 4.7% in the 2nd quarter. Miracle Mile Advisors LLC now owns 7,927 shares of the company's stock worth $735,000 after buying an additional 353 shares in the last quarter. Brookstone Capital Management bought a new stake in shares of CAVA Group in the 2nd quarter worth about $856,000. Finally, Raymond James & Associates increased its holdings in shares of CAVA Group by 120.1% in the 2nd quarter. Raymond James & Associates now owns 170,791 shares of the company's stock worth $15,841,000 after buying an additional 93,177 shares during the last quarter. Institutional investors own 73.15% of the company's stock.

Insider Activity at CAVA Group

In other CAVA Group news, Director Karen Kochevar sold 15,000 shares of the stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $142.23, for a total transaction of $2,133,450.00. Following the sale, the director now owns 1,307 shares of the company's stock, valued at approximately $185,894.61. This trade represents a 91.99 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Ronald M. Shaich sold 622,549 shares of CAVA Group stock in a transaction on Monday, December 9th. The shares were sold at an average price of $149.40, for a total value of $93,008,820.60. Following the completion of the transaction, the director now owns 6,307 shares in the company, valued at $942,265.80. This represents a 99.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 652,549 shares of company stock worth $97,242,271 over the last three months. 12.10% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of research analysts recently commented on CAVA shares. William Blair reaffirmed an "outperform" rating on shares of CAVA Group in a report on Wednesday, November 13th. TD Cowen lifted their target price on CAVA Group from $130.00 to $150.00 and gave the stock a "buy" rating in a report on Wednesday, November 13th. UBS Group began coverage on CAVA Group in a research report on Friday, September 27th. They set a "neutral" rating and a $135.00 target price on the stock. Piper Sandler lifted their price objective on shares of CAVA Group from $100.00 to $142.00 and gave the stock a "neutral" rating in a research note on Friday, November 15th. Finally, Barclays boosted their price objective on shares of CAVA Group from $113.00 to $142.00 and gave the company an "equal weight" rating in a research report on Wednesday, November 13th. Eight equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $143.80.

CAVA Group Trading Down 1.1 %

Shares of CAVA Group stock traded down $1.32 on Friday, hitting $124.05. 2,470,396 shares of the company traded hands, compared to its average volume of 2,796,221. The company has a market cap of $14.21 billion, a PE ratio of 269.54 and a beta of 2.93. The stock's 50 day moving average price is $137.67 and its 200-day moving average price is $112.99. CAVA Group, Inc. has a 52 week low of $39.05 and a 52 week high of $172.43.

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

CAVA Group Company 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.