Jones Financial Companies Lllp Purchases 2,845 Shares of CAVA Group, Inc. (NYSE:CAVA)

Jones Financial Companies Lllp grew its position in CAVA Group, Inc. (NYSE:CAVA) by 377.3% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 3,599 shares of the company’s stock after buying an additional 2,845 shares during the period. Jones Financial Companies Lllp’s holdings in CAVA Group were worth $406,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Jennison Associates LLC increased its position in CAVA Group by 36,658.7% during the 4th quarter. Jennison Associates LLC now owns 2,461,732 shares of the company’s stock valued at $277,683,000 after buying an additional 2,455,035 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of CAVA Group by 121.0% during the third quarter. Geode Capital Management LLC now owns 1,222,834 shares of the company’s stock worth $151,492,000 after acquiring an additional 669,599 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of CAVA Group by 262.8% during the third quarter. Charles Schwab Investment Management Inc. now owns 516,092 shares of the company’s stock valued at $63,918,000 after acquiring an additional 373,835 shares in the last quarter. Two Sigma Advisers LP raised its position in shares of CAVA Group by 17.0% in the 3rd quarter. Two Sigma Advisers LP now owns 2,210,900 shares of the company’s stock valued at $273,820,000 after purchasing an additional 321,800 shares during the last quarter. Finally, State Street Corp boosted its stake in CAVA Group by 33.3% in the 3rd 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.

Insider Activity at CAVA Group

In other news, 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 transaction of $76,499.85. Following the completion of the sale, the chief accounting officer now 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Theodoros Xenohristos sold 851 shares of the firm’s stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $119.18, for a total transaction of $101,422.18. Following the completion of the transaction, the insider now directly owns 358,995 shares in the company, valued at $42,785,024.10. This represents a 0.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 29,235 shares of company stock worth $3,514,101 in the last 90 days. Corporate insiders own 12.10% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on CAVA shares. Piper Sandler upgraded shares of CAVA Group from a “neutral” rating to an “overweight” rating and cut their price target for the company from $142.00 to $115.00 in a research note on Friday, February 28th. TD Cowen raised their target price on CAVA Group from $130.00 to $150.00 and gave the stock a “buy” rating in a research note on Wednesday, November 13th. Sanford C. Bernstein assumed coverage on CAVA Group in a research note on Wednesday, November 20th. They set a “market perform” rating and a $145.00 price target on the stock. JPMorgan Chase & Co. increased their price objective on CAVA Group from $90.00 to $110.00 and gave the company a “neutral” rating in a report on Wednesday, November 13th. Finally, Morgan Stanley lifted their target price on CAVA Group from $123.00 to $135.00 and gave the stock an “equal weight” rating in a report on Thursday, November 14th. Seven investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $131.47.

CAVA Group Price Performance

NYSE:CAVA opened at $79.69 on Wednesday. The company has a 50 day moving average price of $116.27 and a 200-day moving average price of $125.05. CAVA Group, Inc. has a 1-year low of $58.22 and a 1-year high of $172.43. The firm has a market cap of $9.21 billion, a price-to-earnings ratio of 173.24 and a beta of 3.58.

CAVA Group (NYSE:CAVA) last released its quarterly earnings data on Tuesday, February 25th. The company reported $0.05 earnings per share for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.01). The firm had revenue of $227.40 million during the quarter, compared to analysts’ expectations of $223.34 million. CAVA Group had a net margin of 5.88% and a return on equity of 9.10%. On average, sell-side analysts anticipate that CAVA Group, Inc. will post 0.5 earnings per share for the current fiscal 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.