Charles Schwab Investment Management Inc. Purchases 373,835 Shares of CAVA Group, Inc. (NYSE:CAVA)

Charles Schwab Investment Management Inc. lifted its position in shares of CAVA Group, Inc. (NYSE:CAVA) by 262.8% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 516,092 shares of the company’s stock after acquiring an additional 373,835 shares during the period. Charles Schwab Investment Management Inc. owned approximately 0.45% of CAVA Group worth $63,918,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in CAVA. American International Group Inc. grew its holdings in shares of CAVA Group by 194.2% in the first quarter. American International Group Inc. now owns 709 shares of the company’s stock worth $50,000 after acquiring an additional 468 shares during the period. Public Employees Retirement System of Ohio grew its stake in shares of CAVA Group by 171.8% during the 1st quarter. Public Employees Retirement System of Ohio now owns 18,381 shares of the company’s stock valued at $1,288,000 after purchasing an additional 11,618 shares during the period. California State Teachers Retirement System grew its stake in shares of CAVA Group by 54.6% during the 1st quarter. California State Teachers Retirement System now owns 35,861 shares of the company’s stock valued at $2,512,000 after purchasing an additional 12,660 shares during the period. Comerica Bank increased its position in shares of CAVA Group by 14.9% during the 1st quarter. Comerica Bank now owns 12,105 shares of the company’s stock valued at $848,000 after purchasing an additional 1,567 shares during the last quarter. Finally, Cetera Investment Advisers bought a new position in shares of CAVA Group in the 1st quarter worth approximately $2,455,000. 73.15% of the stock is currently owned by hedge funds and other institutional investors.

CAVA Group Stock Performance

CAVA stock opened at $140.94 on Friday. The company has a market capitalization of $16.15 billion, a PE ratio of 306.39 and a beta of 3.23. The company’s fifty day moving average price is $135.37 and its 200-day moving average price is $108.99. CAVA Group, Inc. has a one year low of $31.47 and a one year high of $172.43.

CAVA Group (NYSE:CAVA) last released its quarterly earnings data on Tuesday, November 12th. The company reported $0.15 EPS for the quarter, beating the consensus estimate of $0.11 by $0.04. CAVA Group had a net margin of 5.88% and a return on equity of 9.10%. The business had revenue of $243.82 million during the quarter, compared to the consensus estimate 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, research analysts predict that CAVA Group, Inc. will post 0.5 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on CAVA. Jefferies Financial Group boosted their target price on shares of CAVA Group from $94.00 to $117.00 and gave the company a “buy” rating in a research report on Friday, August 23rd. Robert W. Baird boosted their price objective on shares of CAVA Group from $125.00 to $148.00 and gave the company an “outperform” rating in a research report on Monday, November 4th. JPMorgan Chase & Co. raised their target price on CAVA Group from $90.00 to $110.00 and gave the stock a “neutral” rating in a report on Wednesday, November 13th. Stifel Nicolaus boosted their price target on CAVA Group from $118.00 to $175.00 and gave the company a “buy” rating in a report on Wednesday, November 13th. Finally, Citigroup upped their price target on CAVA Group from $140.00 to $163.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 13th. Eight research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, CAVA Group currently has an average rating of “Moderate Buy” and an average target price of $143.80.

Insider Activity at CAVA Group

In other news, Director Karen Kochevar sold 15,000 shares of the stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $142.23, for a total value of $2,133,450.00. Following the sale, 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 ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 12.10% of the stock is owned by insiders.

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.