US Bancorp DE Cuts Stock Holdings in CAVA Group, Inc. (NYSE:CAVA)

US Bancorp DE cut its stake in shares of CAVA Group, Inc. (NYSE:CAVA) by 24.1% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 1,976 shares of the company’s stock after selling 629 shares during the period. US Bancorp DE’s holdings in CAVA Group were worth $245,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. Vanguard Group Inc. grew its position in CAVA Group by 215.7% during the first quarter. Vanguard Group Inc. now owns 4,944,036 shares of the company’s stock valued at $346,330,000 after acquiring an additional 3,377,840 shares during the period. Capital Research Global Investors lifted its stake in shares of CAVA Group by 21.6% in the 1st quarter. Capital Research Global Investors now owns 5,311,335 shares of the company’s stock valued at $372,059,000 after purchasing an additional 942,054 shares in the last quarter. Renaissance Technologies LLC increased its position in CAVA Group by 102.5% during the 2nd quarter. Renaissance Technologies LLC now owns 892,400 shares of the company’s stock worth $82,770,000 after purchasing an additional 451,800 shares in the last quarter. Driehaus Capital Management LLC increased its position in CAVA Group by 51.8% during the 2nd quarter. Driehaus Capital Management LLC now owns 732,603 shares of the company’s stock worth $67,949,000 after purchasing an additional 250,110 shares in the last quarter. Finally, Marshall Wace LLP raised its holdings in CAVA Group by 130.5% in the second quarter. Marshall Wace LLP now owns 420,577 shares of the company’s stock valued at $39,009,000 after buying an additional 238,087 shares during the period. 73.15% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

CAVA has been the topic of several recent research reports. TD Securities lifted their target price on shares of CAVA Group from $115.00 to $130.00 and gave the company a “buy” rating in a report on Tuesday, September 24th. JPMorgan Chase & Co. boosted their price objective on CAVA Group from $90.00 to $110.00 and gave the stock a “neutral” rating in a research note on Wednesday. Robert W. Baird increased their target price on CAVA Group from $125.00 to $148.00 and gave the company an “outperform” rating in a research note on Monday, November 4th. Morgan Stanley lowered CAVA Group from an “overweight” rating to an “equal weight” rating and boosted their price target for the stock from $90.00 to $110.00 in a research report on Thursday, August 29th. Finally, Citigroup increased their price objective on shares of CAVA Group from $140.00 to $163.00 and gave the company a “neutral” rating in a research report on Wednesday. Eight equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $136.57.

Insider Transactions at CAVA Group

In other news, CEO Brett Schulman sold 201,504 shares of the firm’s stock in a transaction on Monday, August 26th. The stock was 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 approximately $88,196,122.70. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, Director Theodoros Xenohristos sold 98,490 shares of CAVA Group stock in a transaction on Monday, August 26th. The stock was sold at an average price of $125.77, for a total transaction of $12,387,087.30. Following the transaction, the director now directly owns 424,846 shares in the company, valued at approximately $53,432,881.42. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Brett Schulman sold 201,504 shares of the business’s stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $125.53, for a total transaction of $25,294,797.12. Following the completion of the sale, the chief executive officer now owns 702,590 shares in the company, valued at approximately $88,196,122.70. This trade represents a 0.00 % decrease in their ownership of the stock. 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 1.6 %

Shares of NYSE CAVA opened at $147.31 on Thursday. The firm’s 50-day moving average price is $130.75 and its two-hundred day moving average price is $103.50. CAVA Group, Inc. has a 52-week low of $31.41 and a 52-week high of $172.43. The stock has a market capitalization of $16.84 billion, a P/E ratio of 320.24 and a beta of 3.23.

CAVA Group (NYSE:CAVA) last posted its earnings results on Tuesday, November 12th. The company reported $0.15 earnings per share (EPS) for the quarter, beating 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 return on equity of 9.23% and a net margin of 5.88%. The firm’s quarterly revenue was up 38.9% compared to the same quarter last year. During the same period last year, the business posted $0.06 earnings per share. As a group, equities research analysts expect that CAVA Group, Inc. will post 0.44 earnings per share for the current year.

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.