CAVA Group, Inc. (NYSE:CAVA) Holdings Increased by FORA Capital LLC

FORA Capital LLC boosted its holdings in shares of CAVA Group, Inc. (NYSE:CAVA) by 11.5% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 101,413 shares of the company’s stock after acquiring an additional 10,496 shares during the period. CAVA Group accounts for about 1.5% of FORA Capital LLC’s investment portfolio, making the stock its 5th largest holding. FORA Capital LLC’s holdings in CAVA Group were worth $12,560,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of the business. FMR LLC boosted 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 worth $431,621,000 after purchasing an additional 29,668 shares in the last quarter. Federated Hermes Inc. lifted its stake in shares of CAVA Group by 9.7% in the second quarter. Federated Hermes Inc. now owns 1,060,029 shares of the company’s stock worth $98,318,000 after buying an additional 93,635 shares in the last quarter. Renaissance Technologies LLC grew its holdings in shares of CAVA Group by 102.5% during the second quarter. Renaissance Technologies LLC now owns 892,400 shares of the company’s stock valued at $82,770,000 after buying an additional 451,800 shares during the last quarter. Driehaus Capital Management LLC increased its position in shares of CAVA Group by 51.8% during the second quarter. Driehaus Capital Management LLC now owns 732,603 shares of the company’s stock valued at $67,949,000 after acquiring an additional 250,110 shares in the last quarter. Finally, Hood River Capital Management LLC increased its position in shares of CAVA Group by 5.2% during the second quarter. Hood River Capital Management LLC now owns 656,870 shares of the company’s stock valued at $60,925,000 after acquiring an additional 32,493 shares in the last quarter. Institutional investors own 73.15% of the company’s stock.

Insider Activity

In related news, Director Karen Kochevar sold 15,000 shares of CAVA Group stock in a transaction that occurred 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 document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 12.10% of the company’s stock.

CAVA Group Stock Down 0.6 %

NYSE:CAVA traded down $0.89 during mid-day trading on Wednesday, hitting $142.63. 164,135 shares of the company traded hands, compared to its average volume of 2,777,788. The stock’s fifty day moving average price is $134.47 and its 200-day moving average price is $108.08. The firm has a market cap of $16.34 billion, a price-to-earnings ratio of 311.96 and a beta of 3.23. CAVA Group, Inc. has a one year low of $31.47 and a one year high of $172.43.

CAVA Group (NYSE:CAVA) last released its earnings results on Tuesday, November 12th. The company reported $0.15 EPS for the quarter, topping analysts’ consensus estimates of $0.11 by $0.04. The company had revenue of $243.82 million for the quarter, compared to analysts’ expectations of $233.05 million. CAVA Group had a net margin of 5.88% and a return on equity of 9.10%. The firm’s revenue was up 38.9% compared to the same quarter last year. During the same quarter last year, the business earned $0.06 EPS. Equities analysts predict that CAVA Group, Inc. will post 0.5 EPS for the current year.

Analysts Set New Price Targets

Several brokerages have commented on CAVA. Barclays increased their target price on CAVA Group from $113.00 to $142.00 and gave the company an “equal weight” rating in a research note on Wednesday, November 13th. Citigroup increased their price objective on CAVA Group from $140.00 to $163.00 and gave the company a “neutral” rating in a research report on Wednesday, November 13th. Wedbush boosted their target price on CAVA Group from $155.00 to $190.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 13th. Piper Sandler raised their price target on shares of CAVA Group from $100.00 to $142.00 and gave the company a “neutral” rating in a report on Friday, November 15th. Finally, Stifel Nicolaus boosted their price objective on shares of CAVA Group from $118.00 to $175.00 and gave the company a “buy” rating in a report on Wednesday, November 13th. Eight research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target 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.