Fmr LLC Increases Stock Holdings in CAVA Group, Inc. (NYSE:CAVA)

Fmr LLC boosted its stake in CAVA Group, Inc. (NYSE:CAVA) by 0.9% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 3,485,033 shares of the company’s stock after buying an additional 29,668 shares during the quarter. Fmr LLC owned approximately 3.05% of CAVA Group worth $431,621,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Jamison Private Wealth Management Inc. purchased a new stake in shares of CAVA Group in the second quarter valued at about $28,000. Nemes Rush Group LLC bought a new stake in CAVA Group in the 2nd quarter worth about $28,000. Mark Sheptoff Financial Planning LLC purchased a new stake in CAVA Group in the 2nd quarter valued at about $36,000. Headlands Technologies LLC bought a new position in shares of CAVA Group during the 2nd quarter worth approximately $37,000. Finally, GAMMA Investing LLC boosted its stake in shares of CAVA Group by 68.3% in the 3rd quarter. GAMMA Investing LLC now owns 308 shares of the company’s stock worth $38,000 after buying an additional 125 shares during the last quarter. 73.15% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the company. Sanford C. Bernstein assumed coverage on CAVA Group in a research report on Wednesday, November 20th. They issued a “market perform” rating and a $145.00 price objective on the stock. Morgan Stanley increased their price target on shares of CAVA Group from $123.00 to $135.00 and gave the company an “equal weight” rating in a research report on Thursday, November 14th. Barclays lifted 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. Argus increased their target price on shares of CAVA Group from $104.00 to $128.00 and gave the company a “buy” rating in a research report on Wednesday, September 11th. Finally, Loop Capital lifted their price target on shares of CAVA Group from $122.00 to $147.00 and gave the stock a “hold” rating in a report on Thursday, November 14th. Eight investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat.com, CAVA Group presently has a consensus rating of “Moderate Buy” and a consensus price target of $143.80.

Insider Buying and Selling

In related news, Director Karen Kochevar sold 15,000 shares of the company’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 value of $2,133,450.00. Following the transaction, the director now directly owns 1,307 shares in the company, valued at approximately $185,894.61. This represents a 91.99 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 12.10% of the stock is currently owned by company insiders.

CAVA Group Stock Performance

Shares of CAVA opened at $140.94 on Friday. CAVA Group, Inc. has a 52-week low of $31.47 and a 52-week high of $172.43. The stock’s 50-day simple moving average is $135.37 and its 200 day simple moving average is $108.99. The stock has a market capitalization of $16.15 billion, a price-to-earnings ratio of 306.39 and a beta of 3.23.

CAVA Group (NYSE:CAVA) last posted its earnings results on Tuesday, November 12th. The company reported $0.15 earnings per share for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $233.05 million. During the same quarter in the prior year, the firm posted $0.06 EPS. CAVA Group’s revenue was up 38.9% on a year-over-year basis. On average, research analysts forecast that CAVA Group, Inc. will post 0.5 earnings per share 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.