11,508 Shares in CAVA Group, Inc. (NYSE:CAVA) Acquired by Cerity Partners LLC

Cerity Partners LLC bought a new stake in shares of CAVA Group, Inc. (NYSE:CAVA) in the 3rd quarter, Holdings Channel reports. The institutional investor bought 11,508 shares of the company’s stock, valued at approximately $1,425,000.

Other institutional investors have also made changes to their positions in the company. Kingsview Wealth Management LLC raised its stake in CAVA Group by 10.0% during the 3rd quarter. Kingsview Wealth Management LLC now owns 23,655 shares of the company’s stock worth $2,930,000 after buying an additional 2,149 shares during the period. Great Valley Advisor Group Inc. lifted its holdings in shares of CAVA Group by 2.4% in the third quarter. Great Valley Advisor Group Inc. now owns 9,079 shares of the company’s stock valued at $1,124,000 after purchasing an additional 215 shares in the last quarter. Nwam LLC boosted its position in CAVA Group by 2.6% during the 3rd quarter. Nwam LLC now owns 3,368 shares of the company’s stock worth $417,000 after acquiring an additional 85 shares during the last quarter. Meridian Wealth Management LLC acquired a new position in CAVA Group during the third quarter worth $241,000. Finally, Eagle Asset Management Inc. lifted its position in CAVA Group by 233.4% during the 3rd quarter. Eagle Asset Management Inc. now owns 398,991 shares of the company’s stock worth $49,415,000 after buying an additional 279,306 shares in the last quarter. 73.15% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, Director Karen Kochevar sold 15,000 shares of the company’s stock in a transaction on Friday, November 15th. The stock was sold at an average price of $140.00, for a total transaction of $2,100,000.00. Following the completion of the sale, the director now owns 1,307 shares in the company, valued at approximately $182,980. This represents a 91.99 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 12.10% of the stock is currently owned by company insiders.

CAVA Group Trading Up 0.7 %

NYSE:CAVA opened at $141.84 on Wednesday. The stock’s 50-day moving average is $135.91 and its 200-day moving average is $110.32. The stock has a market cap of $16.25 billion, a P/E ratio of 308.35 and a beta of 2.93. CAVA Group, Inc. has a 1-year low of $31.47 and a 1-year high of $172.43.

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

Analyst Ratings Changes

CAVA has been the subject of a number of recent analyst reports. TD Cowen increased their price target on shares of CAVA Group from $130.00 to $150.00 and gave the company a “buy” rating in a research note on Wednesday, November 13th. JPMorgan Chase & Co. boosted their price target on CAVA Group from $90.00 to $110.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 13th. Argus upped their price objective on shares of CAVA Group from $104.00 to $128.00 and gave the company a “buy” rating in a report on Wednesday, September 11th. Sanford C. Bernstein started coverage on CAVA Group in a report on Wednesday, November 20th. They set a “market perform” rating and a $145.00 price target for the company. Finally, Piper Sandler lifted their price objective on shares of CAVA Group from $100.00 to $142.00 and gave the stock 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 assigned a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $143.80.

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.