Farther Finance Advisors LLC Buys 113 Shares of CAVA Group, Inc. (NYSE:CAVA)

Farther Finance Advisors LLC increased its stake in CAVA Group, Inc. (NYSE:CAVA) by 6.3% during the 3rd quarter, Holdings Channel reports. The firm owned 1,916 shares of the company’s stock after purchasing an additional 113 shares during the quarter. Farther Finance Advisors LLC’s holdings in CAVA Group were worth $237,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. lifted its stake in CAVA Group by 215.7% in the first quarter. Vanguard Group Inc. now owns 4,944,036 shares of the company’s stock worth $346,330,000 after acquiring an additional 3,377,840 shares during the period. Capital Research Global Investors lifted its position in shares of CAVA Group by 21.6% during the 1st quarter. Capital Research Global Investors now owns 5,311,335 shares of the company’s stock valued at $372,059,000 after buying an additional 942,054 shares in the last quarter. Lord Abbett & CO. LLC lifted its position in shares of CAVA Group by 55.9% during the 1st quarter. Lord Abbett & CO. LLC now owns 1,373,749 shares of the company’s stock valued at $96,231,000 after buying an additional 492,667 shares in the last quarter. Renaissance Technologies LLC raised its stake in CAVA Group by 102.5% during the 2nd quarter. Renaissance Technologies LLC now owns 892,400 shares of the company’s stock valued at $82,770,000 after purchasing an additional 451,800 shares during the period. Finally, Driehaus Capital Management LLC raised its stake in CAVA Group by 51.8% during the 2nd quarter. Driehaus Capital Management LLC now owns 732,603 shares of the company’s stock valued at $67,949,000 after purchasing an additional 250,110 shares during the period. Hedge funds and other institutional investors own 73.15% of the company’s stock.

Insider Transactions at CAVA Group

In other CAVA Group news, CEO Brett Schulman sold 201,504 shares of the company’s stock in a transaction on Monday, August 26th. The stock was sold at an average price of $125.53, for a total value of $25,294,797.12. Following the transaction, the chief executive officer now owns 702,590 shares of the company’s stock, valued at approximately $88,196,122.70. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other CAVA Group news, Director Theodoros Xenohristos sold 98,490 shares of the business’s stock in a transaction on Monday, August 26th. The shares were sold at an average price of $125.77, for a total transaction of $12,387,087.30. Following the completion of the transaction, the director now owns 424,846 shares of the company’s stock, valued at $53,432,881.42. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Brett Schulman sold 201,504 shares of the company’s stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $125.53, for a total transaction of $25,294,797.12. Following the transaction, the chief executive officer now directly owns 702,590 shares of the company’s stock, valued at $88,196,122.70. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 304,994 shares of company stock worth $38,310,084. Company insiders own 12.10% of the company’s stock.

CAVA Group Stock Up 4.1 %

CAVA stock opened at $147.20 on Friday. The stock has a market capitalization of $16.83 billion, a price-to-earnings ratio of 397.84 and a beta of 3.23. The stock’s fifty day simple moving average is $128.75 and its 200-day simple moving average is $101.77. CAVA Group, Inc. has a 52-week low of $29.66 and a 52-week high of $147.61.

CAVA Group (NYSE:CAVA) last announced its earnings results on Thursday, August 22nd. The company reported $0.17 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.13 by $0.04. CAVA Group had a return on equity of 7.37% and a net margin of 5.04%. The business had revenue of $233.50 million for the quarter, compared to analyst estimates of $219.47 million. During the same period in the previous year, the company earned $0.21 earnings per share. The company’s revenue for the quarter was up 35.1% compared to the same quarter last year. As a group, analysts anticipate that CAVA Group, Inc. will post 0.44 earnings per share for the current fiscal year.

Analyst Ratings Changes

CAVA has been the topic of a number of research reports. Argus lifted their price objective on CAVA Group from $104.00 to $128.00 and gave the stock a “buy” rating in a research note on Wednesday, September 11th. Barclays boosted their target price on CAVA Group from $95.00 to $113.00 and gave the company an “equal weight” rating in a research report on Tuesday, October 22nd. JPMorgan Chase & Co. boosted their target price on CAVA Group from $77.00 to $90.00 and gave the company a “neutral” rating in a research report on Monday, August 26th. Wedbush boosted their target price on CAVA Group from $100.00 to $120.00 and gave the company an “outperform” rating in a research report on Friday, August 23rd. Finally, Morgan Stanley downgraded CAVA Group from an “overweight” rating to an “equal weight” rating and boosted their target price for the company from $90.00 to $110.00 in a research report on Thursday, August 29th. Eight 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 presently has an average rating of “Moderate Buy” and a consensus target price of $120.36.

CAVA Group 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.