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Sumitomo Mitsui Trust Group Inc. Purchases New Position in CAVA Group, Inc. (NYSE:CAVA)

CAVA Group logo with Retail/Wholesale background

Sumitomo Mitsui Trust Group Inc. bought a new position in shares of CAVA Group, Inc. (NYSE:CAVA - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 4,900 shares of the company's stock, valued at approximately $553,000.

Several other large investors have also added to or reduced their stakes in the business. Financial Advocates Investment Management grew its holdings in CAVA Group by 36.5% during the fourth quarter. Financial Advocates Investment Management now owns 4,267 shares of the company's stock worth $481,000 after buying an additional 1,142 shares in the last quarter. Stratos Wealth Partners LTD. lifted its holdings in CAVA Group by 4.2% during the 4th quarter. Stratos Wealth Partners LTD. now owns 6,293 shares of the company's stock worth $710,000 after purchasing an additional 251 shares in the last quarter. Robbins Farley increased its stake in CAVA Group by 97.2% in the 4th quarter. Robbins Farley now owns 24,027 shares of the company's stock worth $2,710,000 after acquiring an additional 11,843 shares during the last quarter. Jennison Associates LLC increased its stake in CAVA Group by 36,658.7% in the 4th 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. Finally, S.A. Mason LLC bought a new position in shares of CAVA Group during the 4th quarter valued at about $431,000. Institutional investors and hedge funds own 73.15% of the company's stock.

CAVA Group Stock Performance

CAVA traded up $2.42 during midday trading on Tuesday, hitting $133.49. The company had a trading volume of 531,558 shares, compared to its average volume of 1,936,215. The company has a market capitalization of $15.29 billion, a PE ratio of 290.19 and a beta of 3.25. The firm's 50-day simple moving average is $123.55 and its 200-day simple moving average is $124.68. CAVA Group, Inc. has a twelve month low of $48.10 and a twelve month high of $172.43.

Analyst Ratings Changes

A number of research firms have recently commented on CAVA. TD Cowen raised their target price on CAVA Group from $130.00 to $150.00 and gave the company a "buy" rating in a research note on Wednesday, November 13th. Barclays lowered their target price on CAVA Group from $142.00 to $127.00 and set an "equal weight" rating on the stock in a research report on Tuesday, January 7th. Robert W. Baird boosted their price objective on CAVA Group from $125.00 to $148.00 and gave the company an "outperform" rating in a research report on Monday, November 4th. Loop Capital boosted their price objective on CAVA Group from $122.00 to $147.00 and gave the stock a "hold" rating in a research note on Thursday, November 14th. Finally, Morgan Stanley upped their target price on CAVA Group from $123.00 to $135.00 and gave the company an "equal weight" rating in a research note on Thursday, November 14th. Eight research 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 stock presently has an average rating of "Moderate Buy" and an average target price of $142.13.

View Our Latest Research Report on CAVA Group

Insider Transactions at CAVA Group

In related news, CEO Brett Schulman sold 2,936 shares of CAVA Group stock in a transaction on Monday, January 27th. The shares were sold at an average price of $124.39, for a total value of $365,209.04. Following the completion of the sale, the chief executive officer now owns 773,433 shares of the company's stock, valued at approximately $96,207,330.87. This trade represents a 0.38 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CAO Adam David Phillips sold 615 shares of CAVA Group stock in a transaction on Monday, January 27th. The stock was sold at an average price of $124.39, for a total transaction of $76,499.85. Following the transaction, the chief accounting officer now directly owns 10,884 shares in the company, valued at $1,353,860.76. This represents a 5.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 651,784 shares of company stock valued at $96,522,922 over the last 90 days. 12.10% of the stock is owned by corporate insiders.

About CAVA Group

(Free Report)

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.

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Institutional Ownership by Quarter for CAVA Group (NYSE:CAVA)

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