CAVA Group, Inc. (NYSE:CAVA) Shares Purchased by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. grew its stake in shares of CAVA Group, Inc. (NYSE:CAVA) by 2.3% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 527,868 shares of the company’s stock after buying an additional 11,776 shares during the period. Charles Schwab Investment Management Inc.’s holdings in CAVA Group were worth $59,544,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in CAVA. Steward Partners Investment Advisory LLC boosted its holdings in CAVA Group by 229.0% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 1,793 shares of the company’s stock valued at $202,000 after acquiring an additional 1,248 shares during the last quarter. LGT Group Foundation increased its holdings in CAVA Group by 65.4% in the fourth quarter. LGT Group Foundation now owns 10,064 shares of the company’s stock valued at $1,135,000 after buying an additional 3,979 shares during the last quarter. DJE Kapital AG bought a new stake in CAVA Group in the fourth quarter valued at about $951,000. SBI Securities Co. Ltd. bought a new position in shares of CAVA Group during the fourth quarter valued at approximately $226,000. Finally, Jones Financial Companies Lllp boosted its position in shares of CAVA Group by 377.3% during the fourth quarter. Jones Financial Companies Lllp now owns 3,599 shares of the company’s stock worth $406,000 after buying an additional 2,845 shares during the period. Hedge funds and other institutional investors own 73.15% of the company’s stock.

CAVA Group Stock Performance

Shares of CAVA Group stock opened at $82.25 on Thursday. The firm has a fifty day moving average of $115.66 and a two-hundred day moving average of $124.75. The stock has a market capitalization of $9.51 billion, a price-to-earnings ratio of 178.80 and a beta of 3.58. CAVA Group, Inc. has a 52 week low of $58.22 and a 52 week high of $172.43.

CAVA Group (NYSE:CAVA) last announced its quarterly earnings results on Tuesday, February 25th. The company reported $0.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.06 by ($0.01). The firm had revenue of $227.40 million during the quarter, compared to analyst estimates of $223.34 million. CAVA Group had a net margin of 5.88% and a return on equity of 9.10%. As a group, research analysts forecast that CAVA Group, Inc. will post 0.5 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. Piper Sandler raised CAVA Group from a “neutral” rating to an “overweight” rating and decreased their price target for the company from $142.00 to $115.00 in a research note on Friday, February 28th. Citigroup cut their price objective on CAVA Group from $163.00 to $140.00 and set a “neutral” rating for the company in a report on Friday, February 21st. Sanford C. Bernstein started coverage on CAVA Group in a research report on Wednesday, November 20th. They issued a “market perform” rating and a $145.00 price target on the stock. Morgan Stanley lifted their target price on CAVA Group from $123.00 to $135.00 and gave the stock an “equal weight” rating in a research report on Thursday, November 14th. Finally, Barclays decreased their price objective on CAVA Group from $127.00 to $104.00 and set an “equal weight” rating on the stock in a report on Wednesday, February 26th. Seven equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $131.47.

Insiders Place Their Bets

In other news, CAO Adam David Phillips sold 615 shares of the company’s stock in a transaction dated Monday, January 27th. The shares were sold at an average price of $124.39, for a total value of $76,499.85. Following the sale, the chief accounting officer now directly owns 10,884 shares of the company’s stock, valued at approximately $1,353,860.76. This represents a 5.35 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Theodoros Xenohristos sold 851 shares of the stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $119.18, for a total transaction of $101,422.18. Following the completion of the transaction, the insider now directly owns 358,995 shares in the company, valued at approximately $42,785,024.10. This represents a 0.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 29,235 shares of company stock valued at $3,514,101 in the last three months. 12.10% of the stock is currently owned by corporate insiders.

About CAVA Group

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.