Geode Capital Management LLC Grows Stock Holdings in CAVA Group, Inc. (NYSE:CAVA)

Geode Capital Management LLC lifted its stake in CAVA Group, Inc. (NYSE:CAVA) by 121.0% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 1,222,834 shares of the company’s stock after purchasing an additional 669,599 shares during the quarter. Geode Capital Management LLC owned about 1.07% of CAVA Group worth $151,492,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Brookstone Capital Management purchased a new position in CAVA Group during the second quarter worth about $856,000. Raymond James & Associates raised its position in shares of CAVA Group by 120.1% during the 2nd quarter. Raymond James & Associates now owns 170,791 shares of the company’s stock valued at $15,841,000 after buying an additional 93,177 shares during the period. PSI Advisors LLC lifted its holdings in CAVA Group by 57.1% in the second quarter. PSI Advisors LLC now owns 1,453 shares of the company’s stock valued at $135,000 after acquiring an additional 528 shares during the last quarter. &PARTNERS purchased a new position in CAVA Group in the second quarter worth approximately $473,000. Finally, West Oak Capital LLC acquired a new stake in CAVA Group during the second quarter worth $81,000. Hedge funds and other institutional investors own 73.15% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently commented on CAVA shares. Morgan Stanley upped 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. TD Cowen upped their target price on shares of CAVA Group from $130.00 to $150.00 and gave the company a “buy” rating in a research report on Wednesday, November 13th. Sanford C. Bernstein began coverage on shares of CAVA Group in a research report on Wednesday, November 20th. They set a “market perform” rating and a $145.00 price target for the company. Piper Sandler upped their price objective on shares of CAVA Group from $100.00 to $142.00 and gave the stock a “neutral” rating in a report on Friday, November 15th. Finally, Wedbush lifted their target price on shares of CAVA Group from $155.00 to $190.00 and gave the company an “outperform” rating in a report on Wednesday, November 13th. Eight research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $143.80.

Insider Transactions at CAVA Group

In related news, Director Karen Kochevar sold 15,000 shares of the stock in a transaction on Friday, November 15th. The shares were sold at an average price of $140.00, for a total value of $2,100,000.00. Following the transaction, the director now directly owns 1,307 shares of the company’s stock, valued at $182,980. This trade represents a 91.99 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Ronald M. Shaich sold 622,549 shares of the business’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 sale, the director now directly 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 disclosure for this sale can be found here. In the last 90 days, insiders have sold 652,549 shares of company stock valued at $97,242,271. Corporate insiders own 12.10% of the company’s stock.

CAVA Group Trading Up 2.2 %

Shares of NYSE:CAVA opened at $126.80 on Tuesday. CAVA Group, Inc. has a 52 week low of $39.05 and a 52 week high of $172.43. The company’s 50 day moving average is $137.67 and its two-hundred day moving average is $113.38. The company has a market cap of $14.53 billion, a PE ratio of 275.65 and a beta of 2.93.

CAVA Group (NYSE:CAVA) last posted its earnings results on Tuesday, November 12th. The company reported $0.15 EPS for the quarter, beating the consensus estimate of $0.11 by $0.04. The firm had revenue of $243.82 million for the quarter, compared to analyst estimates of $233.05 million. CAVA Group had a return on equity of 9.10% and a net margin of 5.88%. CAVA Group’s revenue for the quarter was up 38.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.06 earnings per share. As a group, equities research analysts expect that CAVA Group, Inc. will post 0.5 EPS 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.