California Public Employees Retirement System Raises Stake in CAVA Group, Inc. (NYSE:CAVA)

California Public Employees Retirement System boosted its stake in shares of CAVA Group, Inc. (NYSE:CAVA) by 17.8% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 126,540 shares of the company’s stock after purchasing an additional 19,078 shares during the period. California Public Employees Retirement System’s holdings in CAVA Group were worth $14,274,000 as of its most recent filing with the SEC.

A number of other large investors have also added to or reduced their stakes in CAVA. Schroder Investment Management Group grew its position in shares of CAVA Group by 6.0% during the 4th quarter. Schroder Investment Management Group now owns 54,434 shares of the company’s stock valued at $6,070,000 after acquiring an additional 3,075 shares during the period. Arrowstreet Capital Limited Partnership lifted its stake in CAVA Group by 62.8% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 1,246,209 shares of the company’s stock valued at $140,572,000 after purchasing an additional 480,900 shares during the last quarter. Hobbs Group Advisors LLC bought a new position in CAVA Group during the fourth quarter valued at $256,000. Pictet Asset Management Holding SA increased its position in CAVA Group by 59.8% in the fourth quarter. Pictet Asset Management Holding SA now owns 11,272 shares of the company’s stock worth $1,271,000 after buying an additional 4,217 shares during the last quarter. Finally, Nomura Asset Management Co. Ltd. raised its stake in shares of CAVA Group by 125.3% in the fourth quarter. Nomura Asset Management Co. Ltd. now owns 5,184 shares of the company’s stock valued at $585,000 after buying an additional 2,883 shares during the period. Hedge funds and other institutional investors own 73.15% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently weighed in on CAVA shares. Wedbush reissued an “outperform” rating and issued a $150.00 price objective on shares of CAVA Group in a report on Wednesday, February 26th. Citigroup reduced their target price on shares of CAVA Group from $163.00 to $140.00 and set a “neutral” rating for the company in a research note on Friday, February 21st. Bank of America started coverage on shares of CAVA Group in a research note on Monday, March 31st. They set a “buy” rating and a $112.00 price target on the stock. TD Securities reduced their price objective on shares of CAVA Group from $150.00 to $130.00 and set a “buy” rating for the company in a research note on Wednesday, February 26th. Finally, Piper Sandler upgraded CAVA Group from a “neutral” rating to an “overweight” rating and dropped their target price for the stock from $142.00 to $115.00 in a research report on Friday, February 28th. Six analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $130.25.

Insider Buying and Selling

In other CAVA Group news, CFO Tricia K. Tolivar sold 2,086 shares of the stock in a transaction that occurred on Tuesday, January 21st. The shares were sold at an average price of $119.18, for a total transaction of $248,609.48. Following the transaction, the chief financial officer now directly owns 235,592 shares in the company, valued at $28,077,854.56. This trade represents a 0.88 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Theodoros Xenohristos sold 851 shares of the business’s stock in a transaction that occurred on Tuesday, January 21st. The stock was sold at an average price of $119.18, for a total transaction of $101,422.18. Following the completion of the sale, the insider now owns 358,995 shares of the company’s stock, valued at approximately $42,785,024.10. The trade was a 0.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 29,235 shares of company stock worth $3,514,101. Corporate insiders own 12.10% of the company’s stock.

CAVA Group Stock Down 10.5 %

NYSE:CAVA opened at $75.30 on Friday. The stock has a market cap of $8.70 billion, a P/E ratio of 163.70 and a beta of 3.58. The business’s 50-day moving average price is $104.28 and its two-hundred day moving average price is $120.62. CAVA Group, Inc. has a twelve month low of $58.22 and a twelve month high of $172.43.

CAVA Group (NYSE:CAVA) last announced its 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 company had revenue of $227.40 million for the quarter, compared to the consensus estimate of $223.34 million. CAVA Group had a net margin of 5.88% and a return on equity of 9.10%. On average, equities research analysts expect that CAVA Group, Inc. will post 0.5 EPS for the current fiscal 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.