Burkett Financial Services LLC Acquires New Holdings in CAVA Group, Inc. (NYSE:CAVA)

Burkett Financial Services LLC acquired a new stake in CAVA Group, Inc. (NYSE:CAVA) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 500 shares of the company’s stock, valued at approximately $56,000.

Other institutional investors have also made changes to their positions in the company. FMR LLC grew its holdings in shares of CAVA Group by 0.9% during the 3rd quarter. FMR LLC now owns 3,485,033 shares of the company’s stock worth $431,621,000 after purchasing an additional 29,668 shares in the last quarter. Two Sigma Advisers LP lifted its stake in shares of CAVA Group by 17.0% during the third quarter. Two Sigma Advisers LP now owns 2,210,900 shares of the company’s stock valued at $273,820,000 after acquiring an additional 321,800 shares during the period. Lord Abbett & CO. LLC lifted its stake in shares of CAVA Group by 1.5% during the third quarter. Lord Abbett & CO. LLC now owns 1,358,250 shares of the company’s stock valued at $168,219,000 after acquiring an additional 19,493 shares during the period. State Street Corp increased its holdings in shares of CAVA Group by 33.3% in the third quarter. State Street Corp now owns 1,267,333 shares of the company’s stock worth $156,959,000 after acquiring an additional 316,514 shares in the last quarter. Finally, Geode Capital Management LLC increased its holdings in shares of CAVA Group by 121.0% in the third quarter. Geode Capital Management LLC now owns 1,222,834 shares of the company’s stock worth $151,492,000 after acquiring an additional 669,599 shares in the last quarter. 73.15% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research analysts recently commented on CAVA shares. Stifel Nicolaus increased their price target on CAVA Group from $118.00 to $175.00 and gave the company a “buy” rating in a research report on Wednesday, November 13th. TD Securities lifted their price target on CAVA Group from $115.00 to $130.00 and gave the stock a “buy” rating in a report on Tuesday, September 24th. Wedbush raised their price objective on CAVA Group from $155.00 to $190.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 13th. Morgan Stanley lifted their price target on CAVA Group from $123.00 to $135.00 and gave the company an “equal weight” rating in a research note on Thursday, November 14th. Finally, Sanford C. Bernstein initiated coverage on CAVA Group in a report on Wednesday, November 20th. They set a “market perform” rating and a $145.00 target price on the stock. Eight analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $143.80.

Insiders Place Their Bets

In other news, Director Ronald M. Shaich sold 622,549 shares of the firm’s stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $149.40, for a total transaction of $93,008,820.60. Following the completion of the sale, the director now owns 6,307 shares of the company’s stock, valued at approximately $942,265.80. This trade represents a 99.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Karen Kochevar sold 15,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $142.23, for a total transaction of $2,133,450.00. Following the completion of the sale, the director now directly owns 1,307 shares of the company’s stock, valued at approximately $185,894.61. This represents a 91.99 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 652,549 shares of company stock worth $97,242,271. Corporate insiders own 12.10% of the company’s stock.

CAVA Group Trading Up 3.0 %

NYSE:CAVA traded up $3.42 during mid-day trading on Monday, hitting $118.50. The company had a trading volume of 1,484,515 shares, compared to its average volume of 1,804,122. The business has a fifty day simple moving average of $132.59 and a 200-day simple moving average of $116.01. CAVA Group, Inc. has a 1 year low of $40.05 and a 1 year high of $172.43. The firm has a market capitalization of $13.58 billion, a price-to-earnings ratio of 257.61 and a beta of 2.93.

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 the consensus estimate 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%. The business’s revenue was up 38.9% on a year-over-year basis. During the same period in the previous year, the firm posted $0.06 earnings per share. As a group, research analysts anticipate that CAVA Group, Inc. will post 0.5 earnings per share for the current year.

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.