KBC Group NV Raises Stock Position in CAVA Group, Inc. (NYSE:CAVA)

KBC Group NV lifted its position in shares of CAVA Group, Inc. (NYSE:CAVA) by 40.8% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,598 shares of the company’s stock after buying an additional 463 shares during the period. KBC Group NV’s holdings in CAVA Group were worth $198,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. Sei Investments Co. raised its stake in shares of CAVA Group by 70.6% in the 1st quarter. Sei Investments Co. now owns 35,784 shares of the company’s stock valued at $2,507,000 after acquiring an additional 14,811 shares during the period. Vanguard Group Inc. boosted its position in shares of CAVA Group by 215.7% during the first quarter. Vanguard Group Inc. now owns 4,944,036 shares of the company’s stock worth $346,330,000 after buying an additional 3,377,840 shares during the period. Acadian Asset Management LLC acquired a new stake in shares of CAVA Group in the first quarter valued at $323,000. American International Group Inc. lifted its stake in CAVA Group by 194.2% during the 1st quarter. American International Group Inc. now owns 709 shares of the company’s stock worth $50,000 after acquiring an additional 468 shares in the last quarter. Finally, Pitcairn Co. purchased a new position in CAVA Group in the 1st quarter valued at approximately $467,000. Hedge funds and other institutional investors own 73.15% of the company’s stock.

Insider Buying and Selling

In other news, CEO Brett Schulman sold 201,504 shares of the firm’s stock in a transaction on Monday, August 26th. The shares were sold at an average price of $125.53, for a total value of $25,294,797.12. Following 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 22.29 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Tricia K. Tolivar sold 5,000 shares of the stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $125.64, for a total transaction of $628,200.00. Following the completion of the sale, the chief financial officer now owns 292,600 shares of the company’s stock, valued at approximately $36,762,264. The trade was a 1.68 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 319,994 shares of company stock worth $40,410,084. Corporate insiders own 12.10% of the company’s stock.

Analyst Upgrades and Downgrades

CAVA has been the topic of several research analyst reports. TD Cowen raised their target price on CAVA Group from $130.00 to $150.00 and gave the stock a “buy” rating in a research report on Wednesday, November 13th. Barclays boosted their price objective on shares of CAVA Group from $113.00 to $142.00 and gave the stock an “equal weight” rating in a research report on Wednesday, November 13th. Citigroup boosted their price target on CAVA Group from $140.00 to $163.00 and gave the company a “neutral” rating in a report on Wednesday, November 13th. Wedbush upped their price target on CAVA Group from $155.00 to $190.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 13th. Finally, Robert W. Baird boosted their price objective on CAVA Group from $125.00 to $148.00 and gave the stock an “outperform” rating in a research note on Monday, November 4th. Eight analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $143.80.

CAVA Group Stock Performance

CAVA Group stock opened at $139.64 on Thursday. CAVA Group, Inc. has a 1 year low of $31.47 and a 1 year high of $172.43. The firm’s 50 day moving average price is $132.46 and its two-hundred day moving average price is $105.70. The firm has a market cap of $16.00 billion, a price-to-earnings ratio of 303.57 and a beta of 3.23.

CAVA Group (NYSE:CAVA) last issued its quarterly earnings results on Tuesday, November 12th. The company reported $0.15 EPS for the quarter, beating the consensus estimate of $0.11 by $0.04. CAVA Group had a net margin of 5.88% and a return on equity of 9.10%. The business had revenue of $243.82 million during the quarter, compared to the consensus estimate of $233.05 million. During the same quarter in the prior year, the firm earned $0.06 EPS. The firm’s quarterly revenue was up 38.9% on a year-over-year basis. As a group, equities analysts predict that CAVA Group, Inc. will post 0.5 EPS for the current fiscal 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.