Principal Financial Group Inc. Sells 21,389 Shares of CAVA Group, Inc. (NYSE:CAVA)

Principal Financial Group Inc. lowered its position in shares of CAVA Group, Inc. (NYSE:CAVA) by 18.0% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 97,750 shares of the company’s stock after selling 21,389 shares during the quarter. Principal Financial Group Inc. owned about 0.09% of CAVA Group worth $12,106,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Conway Capital Management Inc. bought a new position in CAVA Group in the 3rd quarter worth about $5,524,000. SpiderRock Advisors LLC lifted its stake in shares of CAVA Group by 8.9% in the third quarter. SpiderRock Advisors LLC now owns 479,319 shares of the company’s stock worth $59,364,000 after buying an additional 39,319 shares in the last quarter. Xponance Inc. grew its holdings in shares of CAVA Group by 95.2% during the second quarter. Xponance Inc. now owns 9,846 shares of the company’s stock valued at $913,000 after buying an additional 4,803 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of CAVA Group by 262.8% during the third quarter. Charles Schwab Investment Management Inc. now owns 516,092 shares of the company’s stock valued at $63,918,000 after acquiring an additional 373,835 shares in the last quarter. Finally, PFG Investments LLC raised its holdings in CAVA Group by 36.8% in the 3rd quarter. PFG Investments LLC now owns 15,907 shares of the company’s stock worth $1,970,000 after acquiring an additional 4,275 shares during the last quarter. Institutional investors own 73.15% of the company’s stock.

Insider Transactions at CAVA Group

In other news, Director Ronald M. Shaich sold 622,549 shares of the business’s stock in a transaction 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 transaction, the director now owns 6,307 shares of the company’s stock, valued at approximately $942,265.80. The trade was a 99.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Karen Kochevar sold 15,000 shares of the company’s stock in a transaction 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 transaction, the director now owns 1,307 shares of the company’s stock, valued at approximately $185,894.61. This represents a 91.99 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 652,549 shares of company stock valued at $97,242,271 over the last three months. Corporate insiders own 12.10% of the company’s stock.

Analysts Set New Price Targets

CAVA has been the subject of a number of research analyst reports. UBS Group began coverage on CAVA Group in a report on Friday, September 27th. They issued a “neutral” rating and a $135.00 target price for the company. Sanford C. Bernstein began coverage on CAVA Group in a report on Wednesday, November 20th. They issued a “market perform” rating and a $145.00 price objective for the company. JPMorgan Chase & Co. upped their target price on shares of CAVA Group from $90.00 to $110.00 and gave the company a “neutral” rating in a research note on Wednesday, November 13th. TD Cowen lifted their price target on shares of CAVA Group from $130.00 to $150.00 and gave the stock a “buy” rating in a research note on Wednesday, November 13th. Finally, Barclays increased 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. Eight investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, CAVA Group presently has an average rating of “Moderate Buy” and a consensus target price of $143.80.

CAVA Group Stock Performance

NYSE CAVA opened at $114.37 on Monday. The business’s fifty day moving average is $134.93 and its 200 day moving average is $115.45. CAVA Group, Inc. has a fifty-two week low of $39.05 and a fifty-two week high of $172.43. The company has a market capitalization of $13.10 billion, a PE ratio of 248.63 and a beta of 2.93.

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, beating analysts’ consensus estimates of $0.11 by $0.04. The firm had revenue of $243.82 million for the quarter, compared to analysts’ expectations of $233.05 million. CAVA Group had a return on equity of 9.10% and a net margin of 5.88%. The business’s quarterly revenue was up 38.9% on a year-over-year basis. During the same period in the previous year, the firm earned $0.06 EPS. On average, sell-side analysts forecast that CAVA Group, Inc. will post 0.5 EPS for the current year.

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.