CAVA Group, Inc. (NYSE:CAVA) Shares Sold by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans lowered its position in shares of CAVA Group, Inc. (NYSE:CAVA) by 78.6% during the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 4,347 shares of the company’s stock after selling 16,001 shares during the period. Thrivent Financial for Lutherans’ holdings in CAVA Group were worth $538,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. SpiderRock Advisors LLC increased its position in shares of CAVA Group by 8.9% during the third quarter. SpiderRock Advisors LLC now owns 479,319 shares of the company’s stock worth $59,364,000 after purchasing an additional 39,319 shares in the last quarter. Xponance Inc. increased its position in shares of CAVA Group by 95.2% during the second quarter. Xponance Inc. now owns 9,846 shares of the company’s stock worth $913,000 after purchasing an additional 4,803 shares in the last quarter. PFG Investments LLC grew its holdings in shares of CAVA Group by 36.8% during the third quarter. PFG Investments LLC now owns 15,907 shares of the company’s stock worth $1,970,000 after buying an additional 4,275 shares during the last quarter. Intech Investment Management LLC purchased a new position in shares of CAVA Group during the second quarter worth about $1,728,000. Finally, Aigen Investment Management LP purchased a new position in shares of CAVA Group during the third quarter worth about $1,293,000. Institutional investors and hedge funds own 73.15% of the company’s stock.

CAVA Group Price Performance

Shares of NYSE:CAVA opened at $147.53 on Thursday. The business’s 50 day simple moving average is $136.33 and its 200-day simple moving average is $110.58. The firm has a market capitalization of $16.90 billion, a price-to-earnings ratio of 320.72 and a beta of 2.93. CAVA Group, Inc. has a 12 month low of $31.47 and a 12 month high of $172.43.

CAVA Group (NYSE:CAVA) last announced its quarterly earnings results on Tuesday, November 12th. The company reported $0.15 EPS for the quarter, topping 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 business had revenue of $243.82 million for the quarter, compared to analyst estimates of $233.05 million. During the same quarter in the previous year, the company earned $0.06 EPS. The company’s quarterly revenue was up 38.9% on a year-over-year basis. On average, equities analysts anticipate that CAVA Group, Inc. will post 0.5 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Karen Kochevar sold 15,000 shares of CAVA Group stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $142.23, for a total transaction of $2,133,450.00. Following the completion of the transaction, the director now directly owns 1,307 shares in the company, valued at $185,894.61. The trade was a 91.99 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 12.10% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on CAVA shares. Morgan Stanley raised their price target on CAVA Group from $123.00 to $135.00 and gave the stock an “equal weight” rating in a report on Thursday, November 14th. Stifel Nicolaus raised their price target on CAVA Group from $118.00 to $175.00 and gave the stock a “buy” rating in a report on Wednesday, November 13th. TD Cowen raised their price target on CAVA Group from $130.00 to $150.00 and gave the stock a “buy” rating in a report on Wednesday, November 13th. JPMorgan Chase & Co. raised their price target on CAVA Group from $90.00 to $110.00 and gave the stock a “neutral” rating in a report on Wednesday, November 13th. Finally, Jefferies Financial Group lifted their price objective on CAVA Group from $94.00 to $117.00 and gave the company a “buy” rating in a report on Friday, August 23rd. Eight equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $143.80.

CAVA Group 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.