Northwestern Mutual Wealth Management Co. Increases Position in CAVA Group, Inc. (NYSE:CAVA)

Northwestern Mutual Wealth Management Co. increased its stake in shares of CAVA Group, Inc. (NYSE:CAVA) by 98.0% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 875 shares of the company’s stock after buying an additional 433 shares during the period. Northwestern Mutual Wealth Management Co.’s holdings in CAVA Group were worth $81,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in CAVA. Creative Planning boosted its stake in shares of CAVA Group by 24.7% during the 2nd quarter. Creative Planning now owns 5,046 shares of the company’s stock worth $468,000 after acquiring an additional 1,000 shares in the last quarter. Nemes Rush Group LLC acquired a new position in CAVA Group during the second quarter worth $28,000. Algert Global LLC purchased a new stake in CAVA Group during the second quarter worth $426,000. Driehaus Capital Management LLC grew its holdings in CAVA Group by 51.8% in the second quarter. Driehaus Capital Management LLC now owns 732,603 shares of the company’s stock valued at $67,949,000 after purchasing an additional 250,110 shares during the last quarter. Finally, Sepio Capital LP purchased a new position in shares of CAVA Group in the second quarter valued at $214,000. 73.15% of the stock is currently owned by institutional investors and hedge funds.

CAVA Group Price Performance

NYSE CAVA opened at $133.63 on Friday. The company has a market cap of $15.28 billion, a P/E ratio of 361.16 and a beta of 3.33. CAVA Group, Inc. has a 12 month low of $29.66 and a 12 month high of $134.19. The company has a 50-day moving average of $114.42 and a 200-day moving average of $91.54.

CAVA Group (NYSE:CAVA) last issued its quarterly earnings results on Thursday, August 22nd. The company reported $0.17 EPS for the quarter, topping the consensus estimate of $0.13 by $0.04. CAVA Group had a net margin of 5.04% and a return on equity of 7.37%. The firm had revenue of $233.50 million during the quarter, compared to analyst estimates of $219.47 million. During the same quarter in the prior year, the business posted $0.21 earnings per share. CAVA Group’s revenue for the quarter was up 35.1% compared to the same quarter last year. As a group, equities research analysts anticipate that CAVA Group, Inc. will post 0.43 EPS for the current year.

Insider Buying and Selling

In other CAVA Group news, CEO Brett Schulman sold 201,504 shares of the company’s stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $125.53, for a total transaction of $25,294,797.12. Following the completion of the sale, the chief executive officer now directly owns 702,590 shares in the company, valued at $88,196,122.70. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, CFO Tricia K. Tolivar sold 5,000 shares of the stock in a transaction on Monday, August 26th. The shares were sold at an average price of $125.64, for a total value of $628,200.00. Following the completion of the sale, the chief financial officer now owns 292,600 shares of the company’s stock, valued at $36,762,264. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Brett Schulman sold 201,504 shares of CAVA Group stock in a transaction on Monday, August 26th. The shares were sold at an average price of $125.53, for a total transaction of $25,294,797.12. Following the transaction, the chief executive officer now owns 702,590 shares in the company, valued at $88,196,122.70. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 304,994 shares of company stock valued at $38,310,084. 12.10% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the stock. Stifel Nicolaus boosted their price objective on shares of CAVA Group from $90.00 to $110.00 and gave the stock a “buy” rating in a research report on Monday, August 19th. UBS Group started coverage on shares of CAVA Group in a research report on Friday, September 27th. They issued a “neutral” rating and a $135.00 price target on the stock. Citigroup raised their price objective on shares of CAVA Group from $93.00 to $115.00 and gave the stock a “neutral” rating in a research note on Friday, August 23rd. TD Cowen upped their target price on CAVA Group from $115.00 to $130.00 and gave the company a “buy” rating in a research note on Monday, September 23rd. Finally, Barclays raised their price target on CAVA Group from $72.00 to $95.00 and gave the stock an “equal weight” rating in a research report on Friday, August 23rd. Eight analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $115.64.

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.