CAVA Group, Inc. (NYSE:CAVA) Stake Increased by CIBC Asset Management Inc

CIBC Asset Management Inc increased its holdings in shares of CAVA Group, Inc. (NYSE:CAVA) by 3.5% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,287 shares of the company’s stock after buying an additional 110 shares during the quarter. CIBC Asset Management Inc’s holdings in CAVA Group were worth $407,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently bought and sold shares of CAVA. Sei Investments Co. boosted its holdings in CAVA Group by 70.6% in the first quarter. Sei Investments Co. now owns 35,784 shares of the company’s stock worth $2,507,000 after purchasing an additional 14,811 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of CAVA Group by 215.7% in the 1st 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 in the last quarter. Acadian Asset Management LLC acquired a new stake in CAVA Group in the 1st quarter worth approximately $323,000. American International Group Inc. boosted its position in CAVA Group by 194.2% during the first quarter. American International Group Inc. now owns 709 shares of the company’s stock worth $50,000 after purchasing an additional 468 shares during the period. Finally, Quadrature Capital Ltd acquired a new position in CAVA Group during the first quarter valued at approximately $662,000. 73.15% of the stock is owned by hedge funds and other institutional investors.

CAVA Group Stock Performance

NYSE CAVA opened at $144.85 on Friday. The firm’s fifty day moving average price is $132.82 and its two-hundred day moving average price is $105.93. The stock has a market cap of $16.60 billion, a PE ratio of 314.88 and a beta of 3.23. CAVA Group, Inc. has a fifty-two week low of $31.47 and a fifty-two week high of $172.43.

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

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. Sanford C. Bernstein began coverage on shares of CAVA Group in a report on Wednesday. They set a “market perform” rating and a $145.00 price target for the company. Loop Capital raised their target price on CAVA Group from $122.00 to $147.00 and gave the company a “hold” rating in a report on Thursday, November 14th. JPMorgan Chase & Co. upped their price target on CAVA Group from $90.00 to $110.00 and gave the stock a “neutral” rating in a report on Wednesday, November 13th. Wedbush raised their price objective on shares of CAVA Group from $155.00 to $190.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 13th. Finally, Piper Sandler upped their target price on shares of CAVA Group from $100.00 to $142.00 and gave the company a “neutral” rating in a research note on Friday, November 15th. Eight research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $143.80.

Insider Activity at CAVA Group

In related news, Director Karen Kochevar sold 15,000 shares of the business’s stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $142.23, for a total value of $2,133,450.00. Following the sale, the director now directly owns 1,307 shares in the company, valued at approximately $185,894.61. The trade was a 91.99 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Brett Schulman sold 201,504 shares of the firm’s stock in a transaction that occurred 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 completion of 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 22.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 334,994 shares of company stock valued at $42,543,534 in the last three months. Corporate insiders own 12.10% of the company’s stock.

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.