Teacher Retirement System of Texas Reduces Holdings in CAVA Group, Inc. (NYSE:CAVA)

Teacher Retirement System of Texas lowered its stake in shares of CAVA Group, Inc. (NYSE:CAVA) by 72.9% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 3,261 shares of the company’s stock after selling 8,790 shares during the quarter. Teacher Retirement System of Texas’ holdings in CAVA Group were worth $368,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently bought and sold shares of the stock. Jennison Associates LLC grew its holdings in shares of CAVA Group by 36,658.7% during the 4th quarter. Jennison Associates LLC now owns 2,461,732 shares of the company’s stock worth $277,683,000 after acquiring an additional 2,455,035 shares during the period. Geode Capital Management LLC grew its stake in CAVA Group by 121.0% in the third quarter. Geode Capital Management LLC now owns 1,222,834 shares of the company’s stock worth $151,492,000 after purchasing an additional 669,599 shares during the period. Raymond James Financial Inc. bought a new position in CAVA Group in the fourth quarter worth $59,516,000. Two Sigma Advisers LP lifted 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 valued at $273,820,000 after buying an additional 321,800 shares during the period. Finally, State Street Corp boosted its holdings in shares of CAVA Group by 33.3% during the 3rd quarter. State Street Corp now owns 1,267,333 shares of the company’s stock valued at $156,959,000 after buying an additional 316,514 shares in the last quarter. 73.15% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research analysts recently issued reports on the stock. Citigroup lowered their price target on shares of CAVA Group from $163.00 to $140.00 and set a “neutral” rating for the company in a research report on Friday, February 21st. Piper Sandler raised CAVA Group from a “neutral” rating to an “overweight” rating and dropped their price target for the stock from $142.00 to $115.00 in a research report on Friday, February 28th. Bank of America assumed coverage on CAVA Group in a research report on Monday. They set a “buy” rating and a $112.00 price objective for the company. JPMorgan Chase & Co. upgraded CAVA Group from a “neutral” rating to an “overweight” rating and set a $110.00 price objective for the company in a research note on Thursday, March 20th. Finally, Loop Capital cut their target price on CAVA Group from $147.00 to $100.00 and set a “hold” rating on the stock in a research note on Thursday, February 27th. Six research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $130.25.

Insider Activity

In other CAVA Group news, CEO Brett Schulman sold 20,564 shares of the business’s stock in a transaction dated Tuesday, January 21st. The stock was sold at an average price of $119.18, for a total transaction of $2,450,817.52. Following the completion of the sale, the chief executive officer now owns 776,369 shares of the company’s stock, valued at approximately $92,527,657.42. The trade was a 2.58 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Tricia K. Tolivar sold 2,086 shares of the firm’s stock in a transaction dated Tuesday, January 21st. The stock was sold at an average price of $119.18, for a total value of $248,609.48. Following the completion of the transaction, the chief financial officer now directly owns 235,592 shares in the company, valued at $28,077,854.56. This trade represents a 0.88 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 29,235 shares of company stock valued at $3,514,101 in the last quarter. 12.10% of the stock is currently owned by insiders.

CAVA Group Trading Up 0.8 %

NYSE:CAVA opened at $86.53 on Tuesday. The company has a market cap of $10.00 billion, a PE ratio of 188.10 and a beta of 3.58. The company has a 50 day simple moving average of $107.40 and a two-hundred day simple moving average of $121.67. CAVA Group, Inc. has a 12 month low of $58.22 and a 12 month high of $172.43.

CAVA Group (NYSE:CAVA) last issued its quarterly earnings data on Tuesday, February 25th. The company reported $0.05 EPS for the quarter, missing the consensus estimate of $0.06 by ($0.01). CAVA Group had a return on equity of 9.10% and a net margin of 5.88%. The firm had revenue of $227.40 million during the quarter, compared to the consensus estimate of $223.34 million. Research analysts forecast that CAVA Group, Inc. will post 0.5 earnings per share for the current year.

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.