State Street Corp Has $156.96 Million Stock Holdings in CAVA Group, Inc. (NYSE:CAVA)

State Street Corp lifted its position in shares of CAVA Group, Inc. (NYSE:CAVA) by 33.3% during the 3rd quarter, Holdings Channel reports. The firm owned 1,267,333 shares of the company’s stock after purchasing an additional 316,514 shares during the quarter. State Street Corp’s holdings in CAVA Group were worth $156,959,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently modified their holdings of the company. Nemes Rush Group LLC acquired a new position in CAVA Group in the 2nd quarter valued at about $28,000. Mark Sheptoff Financial Planning LLC acquired a new position in CAVA Group in the 2nd quarter valued at about $36,000. Headlands Technologies LLC acquired a new position in CAVA Group in the 2nd quarter valued at about $37,000. GAMMA Investing LLC grew its stake in CAVA Group by 68.3% in the 3rd quarter. GAMMA Investing LLC now owns 308 shares of the company’s stock valued at $38,000 after buying an additional 125 shares during the last quarter. Finally, West Oak Capital LLC acquired a new position in CAVA Group in the 2nd quarter valued at about $81,000. 73.15% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on CAVA. Robert W. Baird upped their price target on shares of CAVA Group from $125.00 to $148.00 and gave the company an “outperform” rating in a research note on Monday, November 4th. UBS Group assumed coverage on shares of CAVA Group in a research note on Friday, September 27th. They issued a “neutral” rating and a $135.00 price target on the stock. Morgan Stanley increased their target price on shares of CAVA Group from $123.00 to $135.00 and gave the stock an “equal weight” rating in a research report on Thursday, November 14th. TD Cowen increased their target price on shares of CAVA Group from $130.00 to $150.00 and gave the stock a “buy” rating in a research report on Wednesday, November 13th. Finally, TD Securities increased their target price on shares of CAVA Group from $115.00 to $130.00 and gave the stock a “buy” rating in a research report on Tuesday, September 24th. Eight research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $143.80.

Insider Activity at CAVA Group

In other news, Director Ronald M. Shaich sold 622,549 shares of the firm’s stock in a transaction 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 transaction, 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 legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Karen Kochevar sold 15,000 shares of the firm’s stock in a transaction 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 transaction, the director now directly owns 1,307 shares of the company’s stock, valued at $185,894.61. The trade was a 91.99 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 652,549 shares of company stock valued at $97,242,271 in the last quarter. Insiders own 12.10% of the company’s stock.

CAVA Group Trading Down 1.1 %

Shares of CAVA Group stock opened at $123.99 on Friday. The company has a market cap of $14.21 billion, a PE ratio of 269.54 and a beta of 2.93. The company has a 50 day moving average of $137.67 and a 200-day moving average of $112.99. CAVA Group, Inc. has a 1-year low of $39.05 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 EPS for the quarter, beating 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 net margin of 5.88% and a return on equity of 9.10%. The firm’s revenue was up 38.9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.06 EPS. Research analysts forecast 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.