Two Sigma Advisers LP Purchases 321,800 Shares of CAVA Group, Inc. (NYSE:CAVA)

Two Sigma Advisers LP raised its stake in CAVA Group, Inc. (NYSE:CAVA - Free Report) by 17.0% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,210,900 shares of the company's stock after buying an additional 321,800 shares during the period. Two Sigma Advisers LP owned approximately 1.93% of CAVA Group worth $273,820,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in the stock. California State Teachers Retirement System boosted its position in CAVA Group by 54.6% during the first quarter. California State Teachers Retirement System now owns 35,861 shares of the company's stock worth $2,512,000 after acquiring an additional 12,660 shares during the last quarter. Comerica Bank boosted its position in CAVA Group by 14.9% during the first quarter. Comerica Bank now owns 12,105 shares of the company's stock worth $848,000 after acquiring an additional 1,567 shares during the last quarter. Cetera Investment Advisers acquired a new stake in CAVA Group during the first quarter worth approximately $2,455,000. Cetera Advisors LLC acquired a new stake in CAVA Group during the first quarter worth approximately $301,000. Finally, Mather Group LLC. purchased a new position in CAVA Group during the second quarter worth approximately $45,000. 73.15% of the stock is owned by hedge funds and other institutional investors.

CAVA Group Stock Down 0.1 %

CAVA stock traded down $0.20 during trading hours on Friday, hitting $150.30. The company's stock had a trading volume of 1,751,942 shares, compared to its average volume of 2,768,726. The company has a market capitalization of $17.22 billion, a PE ratio of 327.17 and a beta of 2.93. CAVA Group, Inc. has a 12 month low of $31.47 and a 12 month high of $172.43. The stock has a 50 day moving average price of $136.79 and a two-hundred day moving average price of $110.85.

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

Insider Activity at CAVA Group

In other news, Director Karen Kochevar sold 15,000 shares of the stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $142.23, for a total value of $2,133,450.00. Following the completion of the transaction, the director now owns 1,307 shares in the company, valued at approximately $185,894.61. This represents a 91.99 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 12.10% of the company's stock.

Analysts Set New Price Targets

CAVA has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. increased their price target on shares of CAVA Group from $90.00 to $110.00 and gave the stock a "neutral" rating in a research note on Wednesday, November 13th. William Blair reaffirmed an "outperform" rating on shares of CAVA Group in a research note on Wednesday, November 13th. Wedbush increased their price target on shares of CAVA Group from $155.00 to $190.00 and gave the stock an "outperform" rating in a research note on Wednesday, November 13th. Stifel Nicolaus increased their price target on shares of CAVA Group from $118.00 to $175.00 and gave the stock a "buy" rating in a research note on Wednesday, November 13th. Finally, Piper Sandler increased their price target 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. Eight equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $143.80.

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.