CAVA Group, Inc. (NYSE:CAVA) Position Increased by Victory Capital Management Inc.

Victory Capital Management Inc. raised its stake in CAVA Group, Inc. (NYSE:CAVA - Free Report) by 46.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 29,851 shares of the company's stock after acquiring an additional 9,497 shares during the quarter. Victory Capital Management Inc.'s holdings in CAVA Group were worth $3,367,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. FMR LLC raised its stake in CAVA Group by 0.9% in the 3rd quarter. FMR LLC now owns 3,485,033 shares of the company's stock valued at $431,621,000 after purchasing an additional 29,668 shares during the last quarter. Jennison Associates LLC grew its holdings 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 buying an additional 2,455,035 shares in the last quarter. Two Sigma Advisers LP raised its position in shares of CAVA Group by 17.0% in the third quarter. Two Sigma Advisers LP now owns 2,210,900 shares of the company's stock valued at $273,820,000 after buying an additional 321,800 shares during the last quarter. Lord Abbett & CO. LLC lifted its stake in shares of CAVA Group by 1.5% during the third quarter. Lord Abbett & CO. LLC now owns 1,358,250 shares of the company's stock valued at $168,219,000 after buying an additional 19,493 shares during the period. Finally, State Street Corp boosted its position in CAVA Group by 33.3% during the third quarter. State Street Corp now owns 1,267,333 shares of the company's stock worth $156,959,000 after acquiring an additional 316,514 shares during the last quarter. 73.15% of the stock is currently owned by hedge funds and other institutional investors.

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Analysts Set New Price Targets

Several research analysts have weighed in on CAVA shares. JPMorgan Chase & Co. upgraded CAVA Group from a "neutral" rating to an "overweight" rating and set a $110.00 price target for the company in a report on Thursday. Barclays reduced their target price on CAVA Group from $127.00 to $104.00 and set an "equal weight" rating on the stock in a research report on Wednesday, February 26th. Piper Sandler upgraded CAVA Group from a "neutral" rating to an "overweight" rating and lowered their price target for the company from $142.00 to $115.00 in a report on Friday, February 28th. Loop Capital cut their price objective on shares of CAVA Group from $147.00 to $100.00 and set a "hold" rating on the stock in a report on Thursday, February 27th. Finally, UBS Group lowered their target price on shares of CAVA Group from $160.00 to $125.00 and set a "neutral" rating for the company in a report on Tuesday, January 7th. Six equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $131.47.

CAVA Group Price Performance

CAVA traded up $3.69 during trading on Thursday, hitting $84.69. The company had a trading volume of 4,456,436 shares, compared to its average volume of 2,910,660. The company has a market cap of $9.79 billion, a PE ratio of 185.64 and a beta of 3.58. CAVA Group, Inc. has a 1-year low of $58.22 and a 1-year high of $172.43. The business has a 50-day moving average of $111.90 and a 200-day moving average of $123.36.

CAVA Group (NYSE:CAVA - Get Free Report) last issued its earnings results on Tuesday, February 25th. The company reported $0.05 EPS for the quarter, missing the consensus estimate of $0.06 by ($0.01). CAVA Group had a return on equity of 9.10% and a net margin of 5.88%. The firm had revenue of $227.40 million during the quarter, compared to analyst estimates of $223.34 million. Research analysts forecast that CAVA Group, Inc. will post 0.5 earnings per share for the current year.

Insider Activity

In related news, CFO Tricia K. Tolivar sold 2,086 shares of the stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $119.18, for a total value of $248,609.48. Following the completion of the transaction, the chief financial officer now owns 235,592 shares in the company, valued at $28,077,854.56. This represents a 0.88 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Brett Schulman sold 20,564 shares of the company's 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 $2,450,817.52. Following the completion of the sale, the chief executive officer now directly owns 776,369 shares of the company's stock, valued at approximately $92,527,657.42. This represents a 2.58 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 29,235 shares of company stock valued at $3,514,101. Insiders own 12.10% of the company's stock.

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.