Van ECK Associates Corp Has $230,000 Position in CAVA Group, Inc. (NYSE:CAVA)

Van ECK Associates Corp lowered its holdings in CAVA Group, Inc. (NYSE:CAVA) by 70.7% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 1,684 shares of the company’s stock after selling 4,058 shares during the quarter. Van ECK Associates Corp’s holdings in CAVA Group were worth $230,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently bought and sold shares of CAVA. Swiss National Bank boosted its stake in CAVA Group by 50.2% in the first quarter. Swiss National Bank now owns 67,300 shares of the company’s stock worth $4,714,000 after purchasing an additional 22,500 shares in the last quarter. Sei Investments Co. raised its position in shares of CAVA Group by 70.6% during the first quarter. Sei Investments Co. now owns 35,784 shares of the company’s stock worth $2,507,000 after acquiring an additional 14,811 shares during the last quarter. Russell Investments Group Ltd. bought a new stake in shares of CAVA Group during the first quarter worth $6,532,000. Kingsview Wealth Management LLC bought a new stake in shares of CAVA Group during the first quarter worth $294,000. Finally, Vanguard Group Inc. raised its position in shares of CAVA Group by 215.7% during the first quarter. Vanguard Group Inc. now owns 4,944,036 shares of the company’s stock worth $346,330,000 after acquiring an additional 3,377,840 shares during the last quarter. Institutional investors and hedge funds own 73.15% of the company’s stock.

CAVA Group Trading Up 1.6 %

NYSE:CAVA opened at $147.31 on Thursday. The stock has a market cap of $16.84 billion, a price-to-earnings ratio of 320.24 and a beta of 3.23. The stock has a 50-day moving average price of $130.75 and a two-hundred day moving average price of $103.50. CAVA Group, Inc. has a 1 year low of $31.41 and a 1 year high of $172.43.

CAVA Group (NYSE:CAVA) last posted its quarterly earnings data on Tuesday, November 12th. The company reported $0.15 earnings per share for the quarter, topping the consensus estimate of $0.11 by $0.04. The company had revenue of $243.82 million during the quarter, compared to analysts’ expectations of $233.05 million. CAVA Group had a return on equity of 9.23% 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 period in the prior year, the firm earned $0.06 earnings per share. Sell-side analysts forecast that CAVA Group, Inc. will post 0.44 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on CAVA shares. Wedbush boosted their target price on CAVA Group from $155.00 to $190.00 and gave the stock an “outperform” rating in a research report on Wednesday. Stifel Nicolaus boosted their target price on CAVA Group from $118.00 to $175.00 and gave the stock a “buy” rating in a research report on Wednesday. Morgan Stanley downgraded CAVA Group from an “overweight” rating to an “equal weight” rating and boosted their target price for the stock from $90.00 to $110.00 in a research report on Thursday, August 29th. TD Cowen upped their price objective on CAVA Group from $130.00 to $150.00 and gave the company a “buy” rating in a report on Wednesday. Finally, Robert W. Baird upped their price objective on CAVA Group from $125.00 to $148.00 and gave the company an “outperform” rating in a report on Monday, November 4th. Eight equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $136.57.

Insider Transactions at CAVA Group

In related news, Director Theodoros Xenohristos sold 98,490 shares of the stock in a transaction that occurred on Monday, August 26th. The stock was 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 approximately $53,432,881.42. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, Director Theodoros Xenohristos sold 98,490 shares of the stock in a transaction that occurred on Monday, August 26th. The stock was 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 approximately $53,432,881.42. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Tricia K. Tolivar sold 5,000 shares of the stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $125.64, for a total value of $628,200.00. Following the transaction, the chief financial officer now directly 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 disclosure for this sale can be found here. Insiders sold 304,994 shares of company stock valued at $38,310,084 over the last three months. Company insiders own 12.10% of the company’s stock.

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.