US Bancorp DE Lowers Position in CAVA Group, Inc. (NYSE:CAVA)

US Bancorp DE reduced its stake in CAVA Group, Inc. (NYSE:CAVA) by 24.1% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,976 shares of the company’s stock after selling 629 shares during the period. US Bancorp DE’s holdings in CAVA Group were worth $245,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of CAVA. Vanguard Group Inc. raised its stake in shares of CAVA Group by 215.7% in the 1st quarter. Vanguard Group Inc. now owns 4,944,036 shares of the company’s stock valued at $346,330,000 after acquiring an additional 3,377,840 shares during the period. Capital Research Global Investors raised its position in CAVA Group by 21.6% in the first quarter. Capital Research Global Investors now owns 5,311,335 shares of the company’s stock valued at $372,059,000 after purchasing an additional 942,054 shares during the period. Renaissance Technologies LLC raised its position in CAVA Group by 102.5% in the second quarter. Renaissance Technologies LLC now owns 892,400 shares of the company’s stock valued at $82,770,000 after purchasing an additional 451,800 shares during the period. Driehaus Capital Management LLC boosted its position in shares of CAVA Group by 51.8% during the second quarter. Driehaus Capital Management LLC now owns 732,603 shares of the company’s stock worth $67,949,000 after buying an additional 250,110 shares during the period. Finally, Marshall Wace LLP grew its stake in shares of CAVA Group by 130.5% in the second quarter. Marshall Wace LLP now owns 420,577 shares of the company’s stock valued at $39,009,000 after buying an additional 238,087 shares in the last quarter. Institutional investors and hedge funds own 73.15% of the company’s stock.

Insider Buying and Selling at CAVA Group

In related news, Director Theodoros Xenohristos sold 98,490 shares of the company’s stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $125.77, for a total value of $12,387,087.30. Following the sale, the director now owns 424,846 shares in the company, valued at $53,432,881.42. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, CFO Tricia K. Tolivar sold 5,000 shares of the stock in a transaction on Monday, August 26th. The stock was sold at an average price of $125.64, for a total transaction of $628,200.00. Following the sale, the chief financial officer now owns 292,600 shares of the company’s stock, valued at $36,762,264. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Theodoros Xenohristos sold 98,490 shares of the business’s stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $125.77, for a total transaction of $12,387,087.30. Following the completion of the transaction, the director now directly owns 424,846 shares of the company’s stock, valued at $53,432,881.42. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 304,994 shares of company stock valued at $38,310,084. 12.10% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on CAVA. Loop Capital increased their target price on CAVA Group from $80.00 to $122.00 and gave the stock a “hold” rating in a research note on Monday, August 26th. Jefferies Financial Group raised their price objective on shares of CAVA Group from $94.00 to $117.00 and gave the company a “buy” rating in a research note on Friday, August 23rd. Stifel Nicolaus upped their target price on shares of CAVA Group from $118.00 to $175.00 and gave the stock a “buy” rating in a research note on Wednesday. TD Cowen raised their price target on shares of CAVA Group from $130.00 to $150.00 and gave the company a “buy” rating in a research report on Wednesday. Finally, William Blair reaffirmed an “outperform” rating on shares of CAVA Group in a research report on Wednesday. Eight analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $136.57.

CAVA Group Trading Up 1.6 %

NYSE:CAVA opened at $147.31 on Thursday. CAVA Group, Inc. has a 12-month low of $31.41 and a 12-month high of $172.43. The stock’s 50 day simple moving average is $130.75 and its 200-day simple moving average is $103.50. The firm has a market cap of $16.84 billion, a P/E ratio of 320.24 and a beta of 3.23.

CAVA Group (NYSE:CAVA) last issued its quarterly earnings results on Tuesday, November 12th. The company reported $0.15 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.11 by $0.04. The business had revenue of $243.82 million for the quarter, compared to analyst estimates of $233.05 million. CAVA Group had a net margin of 5.88% and a return on equity of 9.23%. The business’s revenue was up 38.9% compared to the same quarter last year. During the same period in the previous year, the business posted $0.06 earnings per share. Research analysts forecast that CAVA Group, Inc. will post 0.44 EPS for the current fiscal year.

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.