Principal Financial Group Inc. Reduces Stock Position in CAVA Group, Inc. (NYSE:CAVA)

Principal Financial Group Inc. decreased its holdings in CAVA Group, Inc. (NYSE:CAVA) by 5.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 92,516 shares of the company’s stock after selling 5,234 shares during the quarter. Principal Financial Group Inc. owned 0.08% of CAVA Group worth $10,436,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in CAVA. Allworth Financial LP boosted its holdings in shares of CAVA Group by 369.2% in the fourth quarter. Allworth Financial LP now owns 244 shares of the company’s stock worth $30,000 after buying an additional 192 shares during the last quarter. Golden State Wealth Management LLC purchased a new position in shares of CAVA Group in the fourth quarter worth approximately $47,000. GAMMA Investing LLC boosted its holdings in shares of CAVA Group by 37.0% in the fourth quarter. GAMMA Investing LLC now owns 422 shares of the company’s stock worth $48,000 after buying an additional 114 shares during the last quarter. R Squared Ltd purchased a new position in shares of CAVA Group in the fourth quarter worth approximately $49,000. Finally, Principal Securities Inc. boosted its holdings in shares of CAVA Group by 263.3% in the fourth quarter. Principal Securities Inc. now owns 436 shares of the company’s stock worth $49,000 after buying an additional 316 shares during the last quarter. Hedge funds and other institutional investors own 73.15% of the company’s stock.

CAVA Group Price Performance

CAVA Group stock opened at $94.98 on Friday. The firm’s 50 day moving average price is $121.21 and its 200-day moving average price is $125.53. CAVA Group, Inc. has a 1 year low of $56.03 and a 1 year high of $172.43. The stock has a market cap of $10.88 billion, a P/E ratio of 206.47 and a beta of 3.25.

CAVA Group (NYSE:CAVA) last announced its quarterly earnings results on Tuesday, February 25th. The company reported $0.05 earnings per share 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 business had revenue of $227.40 million during the quarter, compared to the consensus estimate of $223.34 million. As a group, equities analysts expect that CAVA Group, Inc. will post 0.5 EPS for the current year.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the stock. Barclays dropped their price objective on shares of CAVA Group from $127.00 to $104.00 and set an “equal weight” rating on the stock in a report on Wednesday. William Blair restated an “outperform” rating on shares of CAVA Group in a research note on Wednesday. Stifel Nicolaus raised their target price on shares of CAVA Group from $118.00 to $175.00 and gave the stock a “buy” rating in a research note on Wednesday, November 13th. Robert W. Baird raised their target price on shares of CAVA Group from $125.00 to $148.00 and gave the stock an “outperform” rating in a research note on Monday, November 4th. Finally, Piper Sandler upgraded shares of CAVA Group from a “neutral” rating to an “overweight” rating and decreased their target price for the stock from $142.00 to $115.00 in a research note on Friday. Seven analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $131.47.

Insider Buying and Selling

In other CAVA Group news, CEO Brett Schulman sold 20,564 shares of CAVA Group stock in a transaction on Tuesday, January 21st. The shares were sold at an average price of $119.18, for a total transaction of $2,450,817.52. Following the completion of the transaction, the chief executive officer now directly owns 776,369 shares of the company’s stock, valued at $92,527,657.42. The trade was a 2.58 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Adam David Phillips sold 615 shares of CAVA Group stock in a transaction on Monday, January 27th. The stock was sold at an average price of $124.39, for a total transaction of $76,499.85. Following the transaction, the chief accounting officer now directly owns 10,884 shares of the company’s stock, valued at $1,353,860.76. The trade was a 5.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 651,784 shares of company stock worth $96,522,922. Insiders own 12.10% of the company’s stock.

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.