Sumitomo Mitsui Trust Group Inc. Invests $553,000 in CAVA Group, Inc. (NYSE:CAVA)

Sumitomo Mitsui Trust Group Inc. purchased a new position in shares of CAVA Group, Inc. (NYSE:CAVA) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 4,900 shares of the company’s stock, valued at approximately $553,000.

A number of other hedge funds also recently bought and sold shares of the business. FMR LLC boosted its position in CAVA Group by 0.9% during the third quarter. FMR LLC now owns 3,485,033 shares of the company’s stock worth $431,621,000 after purchasing an additional 29,668 shares in the last quarter. Jennison Associates LLC boosted its position in CAVA Group by 36,658.7% during the fourth quarter. Jennison Associates LLC now owns 2,461,732 shares of the company’s stock worth $277,683,000 after purchasing an additional 2,455,035 shares in the last quarter. Two Sigma Advisers LP boosted its position 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 purchasing an additional 321,800 shares in the last quarter. Lord Abbett & CO. LLC boosted its position in CAVA Group by 1.5% during the third quarter. Lord Abbett & CO. LLC now owns 1,358,250 shares of the company’s stock worth $168,219,000 after purchasing an additional 19,493 shares in the last quarter. Finally, State Street Corp boosted its position in CAVA Group by 33.3% during the third quarter. State Street Corp now owns 1,267,333 shares of the company’s stock worth $156,959,000 after purchasing an additional 316,514 shares in the last quarter. Hedge funds and other institutional investors own 73.15% of the company’s stock.

Analysts Set New Price Targets

CAVA has been the topic of several research reports. UBS Group decreased their target price on CAVA Group from $160.00 to $125.00 and set a “neutral” rating on the stock in a research report on Tuesday, January 7th. Stifel Nicolaus raised their target price on CAVA Group from $118.00 to $175.00 and gave the company a “buy” rating in a research report on Wednesday, November 13th. TD Cowen raised their target price on CAVA Group from $130.00 to $150.00 and gave the company a “buy” rating in a research report on Wednesday, November 13th. William Blair restated an “outperform” rating on shares of CAVA Group in a research report on Wednesday, November 13th. Finally, Sanford C. Bernstein initiated coverage on CAVA Group in a research report on Wednesday, November 20th. They issued a “market perform” rating and a $145.00 target price on the stock. Eight research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $142.13.

Insiders Place Their Bets

In other news, insider Kenneth Robert Bertram sold 678 shares of CAVA Group stock in a transaction dated Monday, January 27th. The stock was sold at an average price of $124.39, for a total transaction of $84,336.42. Following the sale, the insider now owns 57,312 shares in the company, valued at approximately $7,129,039.68. The trade was a 1.17 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Adam David Phillips sold 615 shares of the business’s stock in a transaction dated Monday, January 27th. The shares were sold at an average price of $124.39, for a total value of $76,499.85. Following the completion of the transaction, the chief accounting officer now owns 10,884 shares in the company, valued at $1,353,860.76. This trade represents a 5.35 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 666,784 shares of company stock valued at $98,656,372 in the last ninety days. Insiders own 12.10% of the company’s stock.

CAVA Group Trading Up 0.6 %

NYSE:CAVA opened at $131.28 on Friday. The firm has a market cap of $15.04 billion, a PE ratio of 285.39 and a beta of 3.25. The stock has a fifty day moving average price of $123.58 and a 200 day moving average price of $123.78. CAVA Group, Inc. has a 12-month low of $48.10 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 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.11 by $0.04. The company had revenue of $243.82 million during the quarter, compared to the consensus estimate of $233.05 million. CAVA Group had a return on equity of 9.10% and a net margin of 5.88%. CAVA Group’s revenue for the quarter was up 38.9% on a year-over-year basis. During the same period in the previous year, the business earned $0.06 EPS. Equities 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.