MML Investors Services LLC Makes New $288,000 Investment in CAVA Group, Inc. (NYSE:CAVA)

MML Investors Services LLC bought a new stake in shares of CAVA Group, Inc. (NYSE:CAVA) in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 2,326 shares of the company’s stock, valued at approximately $288,000.

Several other large investors also recently modified their holdings of CAVA. FMR LLC lifted its position in shares of CAVA Group by 0.9% during the 3rd quarter. FMR LLC now owns 3,485,033 shares of the company’s stock worth $431,621,000 after buying an additional 29,668 shares during the last quarter. Two Sigma Advisers LP raised its stake in CAVA Group by 17.0% during the third quarter. Two Sigma Advisers LP now owns 2,210,900 shares of the company’s stock worth $273,820,000 after acquiring an additional 321,800 shares in the last quarter. State Street Corp lifted its holdings in shares of CAVA Group by 33.3% in the third quarter. State Street Corp now owns 1,267,333 shares of the company’s stock worth $156,959,000 after acquiring an additional 316,514 shares during the last quarter. Federated Hermes Inc. boosted its stake in shares of CAVA Group by 9.7% in the 2nd quarter. Federated Hermes Inc. now owns 1,060,029 shares of the company’s stock valued at $98,318,000 after purchasing an additional 93,635 shares in the last quarter. Finally, Renaissance Technologies LLC grew its holdings in shares of CAVA Group by 102.5% during the 2nd 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 last quarter. 73.15% of the stock is owned by institutional investors and hedge funds.

CAVA Group Stock Up 0.6 %

Shares of NYSE CAVA opened at $118.52 on Thursday. The firm has a market cap of $13.58 billion, a PE ratio of 257.65 and a beta of 2.93. The company’s fifty day simple moving average is $136.02 and its 200 day simple moving average is $114.90. CAVA Group, Inc. has a 12-month low of $39.05 and a 12-month high of $172.43.

CAVA Group (NYSE:CAVA) last released its quarterly earnings data 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. CAVA Group had a net margin of 5.88% and a return on equity of 9.10%. The company had revenue of $243.82 million for the quarter, compared to analysts’ expectations of $233.05 million. During the same quarter in the prior year, the firm earned $0.06 EPS. The business’s revenue was up 38.9% on a year-over-year basis. On average, equities analysts predict that CAVA Group, Inc. will post 0.5 earnings per share for the current year.

Insider Activity

In other news, Director Karen Kochevar sold 15,000 shares of the stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $140.00, for a total value of $2,100,000.00. Following the completion of the sale, the director now directly owns 1,307 shares of the company’s stock, valued at $182,980. This represents a 91.99 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Ronald M. Shaich sold 622,549 shares of the firm’s stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $149.40, for a total value of $93,008,820.60. Following the completion of the transaction, the director now owns 6,307 shares in the company, valued at $942,265.80. This represents a 99.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 652,549 shares of company stock worth $97,242,271 over the last quarter. 12.10% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of analysts have weighed in on the stock. Piper Sandler raised their target price on shares of CAVA Group from $100.00 to $142.00 and gave the company a “neutral” rating in a research report on Friday, November 15th. Robert W. Baird raised 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. Citigroup upped their target price on CAVA Group from $140.00 to $163.00 and gave the stock a “neutral” rating in a report on Wednesday, November 13th. Wedbush lifted their price target on CAVA Group from $155.00 to $190.00 and gave the company an “outperform” rating in a research note on Wednesday, November 13th. Finally, Stifel Nicolaus upped their price objective on CAVA Group from $118.00 to $175.00 and gave the company a “buy” rating in a research note on Wednesday, November 13th. Eight equities 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, CAVA Group currently has a consensus rating of “Moderate Buy” and an average price target of $143.80.

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.