CAVA Group, Inc. (NYSE:CAVA) Shares Purchased by New York State Common Retirement Fund

New York State Common Retirement Fund increased its position in shares of CAVA Group, Inc. (NYSE:CAVA) by 18.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 54,877 shares of the company’s stock after acquiring an additional 8,500 shares during the period. New York State Common Retirement Fund’s holdings in CAVA Group were worth $2,359,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of CAVA. FMR LLC raised its position in CAVA Group by 92.1% in the 3rd quarter. FMR LLC now owns 1,138,113 shares of the company’s stock valued at $34,860,000 after purchasing an additional 545,799 shares in the last quarter. Jennison Associates LLC raised its position in CAVA Group by 47.4% in the 3rd quarter. Jennison Associates LLC now owns 979,864 shares of the company’s stock valued at $30,013,000 after purchasing an additional 314,924 shares in the last quarter. Lord Abbett & CO. LLC raised its position in CAVA Group by 45.2% in the 3rd quarter. Lord Abbett & CO. LLC now owns 768,693 shares of the company’s stock valued at $23,545,000 after purchasing an additional 239,471 shares in the last quarter. Vanguard Group Inc. raised its position in CAVA Group by 15.5% in the 3rd quarter. Vanguard Group Inc. now owns 1,460,824 shares of the company’s stock valued at $44,745,000 after purchasing an additional 196,019 shares in the last quarter. Finally, Cadian Capital Management LP acquired a new stake in CAVA Group in the 3rd quarter valued at about $4,594,000. Institutional investors and hedge funds own 73.15% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on CAVA shares. Barclays started coverage on CAVA Group in a research report on Monday, April 15th. They issued an “equal weight” rating and a $58.00 price target on the stock. Argus raised CAVA Group from a “hold” rating to a “buy” rating and set a $70.00 target price on the stock in a research report on Wednesday, April 10th. TD Cowen reissued a “buy” rating and set a $63.00 target price on shares of CAVA Group in a research report on Wednesday, April 10th. JPMorgan Chase & Co. raised their target price on CAVA Group from $50.00 to $64.00 and gave the stock an “overweight” rating in a research report on Tuesday, March 19th. Finally, William Blair reissued an “outperform” rating on shares of CAVA Group in a research report on Tuesday, February 27th. Four analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $60.42.

Insider Buying and Selling at CAVA Group

In other CAVA Group news, major shareholder Ronald M. Shaich sold 1,500,000 shares of CAVA Group stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $57.20, for a total value of $85,800,000.00. Following the transaction, the insider now directly owns 4,457,634 shares in the company, valued at approximately $254,976,664.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, major shareholder Ronald M. Shaich sold 1,500,000 shares of the firm’s stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $57.20, for a total value of $85,800,000.00. Following the completion of the sale, the insider now directly owns 4,457,634 shares of the company’s stock, valued at approximately $254,976,664.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Theodoros Xenohristos sold 47,239 shares of the firm’s stock in a transaction that occurred on Tuesday, March 26th. The shares were sold at an average price of $68.29, for a total value of $3,225,951.31. Following the completion of the sale, the director now directly owns 526,521 shares of the company’s stock, valued at $35,956,119.09. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 3,547,239 shares of company stock worth $221,525,951.

CAVA Group Stock Performance

NYSE:CAVA opened at $74.21 on Wednesday. The stock’s 50 day moving average price is $64.78 and its 200 day moving average price is $49.54. CAVA Group, Inc. has a 52-week low of $29.05 and a 52-week high of $77.14.

CAVA Group (NYSE:CAVA) last announced its earnings results on Monday, February 26th. The company reported $0.02 earnings per share for the quarter, beating the consensus estimate of $0.01 by $0.01. CAVA Group had a return on equity of 4.28% and a net margin of 1.82%. The company had revenue of $175.50 million for the quarter, compared to the consensus estimate of $240.03 million. The firm’s revenue for the quarter was up 52.6% compared to the same quarter last year. As a group, equities research analysts predict that CAVA Group, Inc. will post 0.25 EPS for the current year.

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.