CAVA Group, Inc. (NYSE:CAVA) Holdings Reduced by Principal Financial Group Inc.

Principal Financial Group Inc. lessened its holdings in shares of CAVA Group, Inc. (NYSE:CAVA) by 18.0% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 97,750 shares of the company’s stock after selling 21,389 shares during the period. Principal Financial Group Inc. owned 0.09% of CAVA Group worth $12,106,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in CAVA. Vanguard Group Inc. lifted its holdings in CAVA Group by 215.7% in the first quarter. Vanguard Group Inc. now owns 4,944,036 shares of the company’s stock worth $346,330,000 after purchasing an additional 3,377,840 shares during the period. Capital Research Global Investors lifted its stake in shares of CAVA Group by 21.6% in the 1st quarter. Capital Research Global Investors now owns 5,311,335 shares of the company’s stock worth $372,059,000 after acquiring an additional 942,054 shares during the period. Renaissance Technologies LLC boosted its holdings in shares of 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 acquiring an additional 451,800 shares in the last quarter. Driehaus Capital Management LLC increased its stake 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 valued at $67,949,000 after acquiring an additional 250,110 shares during the period. Finally, Marshall Wace LLP raised its holdings in CAVA Group by 130.5% during the second quarter. Marshall Wace LLP now owns 420,577 shares of the company’s stock worth $39,009,000 after purchasing an additional 238,087 shares in the last quarter. 73.15% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. Stifel Nicolaus increased their price target on CAVA Group from $118.00 to $175.00 and gave the company a “buy” rating in a research note on Wednesday, November 13th. Jefferies Financial Group raised their target price on CAVA Group from $94.00 to $117.00 and gave the company a “buy” rating in a research note on Friday, August 23rd. William Blair reiterated an “outperform” rating on shares of CAVA Group in a research report on Wednesday, November 13th. Barclays raised their price objective on shares of CAVA Group from $113.00 to $142.00 and gave the company an “equal weight” rating in a research report on Wednesday, November 13th. Finally, Wedbush boosted their target price on shares of CAVA Group from $155.00 to $190.00 and gave the stock an “outperform” rating in a report on Wednesday, November 13th. Seven equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat.com, CAVA Group currently has a consensus rating of “Moderate Buy” and an average price target of $143.71.

CAVA Group Stock Up 2.2 %

CAVA opened at $141.38 on Monday. The firm has a market capitalization of $16.20 billion, a P/E ratio of 307.35 and a beta of 3.23. The stock has a fifty day moving average of $131.69 and a 200-day moving average of $104.46. CAVA Group, Inc. has a 12-month low of $31.47 and a 12-month high of $172.43.

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

Insider Buying and Selling at CAVA Group

In other news, CEO Brett Schulman sold 201,504 shares of CAVA Group stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $125.53, for a total transaction of $25,294,797.12. Following the completion of the sale, the chief executive officer now directly owns 702,590 shares in the company, valued at $88,196,122.70. The trade was a 22.29 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Tricia K. Tolivar sold 5,000 shares of the stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $125.64, for a total value of $628,200.00. Following the completion of the transaction, the chief financial officer now owns 292,600 shares in the company, valued at $36,762,264. This represents a 1.68 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 304,994 shares of company stock valued at $38,310,084 in the last quarter. Company insiders own 12.10% of the company’s stock.

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.