Victory Capital Management Inc. Acquires 9,497 Shares of CAVA Group, Inc. (NYSE:CAVA)

Victory Capital Management Inc. boosted its holdings in shares of CAVA Group, Inc. (NYSE:CAVA) by 46.7% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 29,851 shares of the company’s stock after acquiring an additional 9,497 shares during the quarter. Victory Capital Management Inc.’s holdings in CAVA Group were worth $3,367,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the company. Nwam LLC boosted its stake in shares of CAVA Group by 2.6% in the 3rd quarter. Nwam LLC now owns 3,368 shares of the company’s stock valued at $417,000 after purchasing an additional 85 shares during the last quarter. Howard Financial Services LTD. boosted its stake in shares of CAVA Group by 1.8% in the 4th quarter. Howard Financial Services LTD. now owns 6,194 shares of the company’s stock valued at $699,000 after purchasing an additional 109 shares during the last quarter. CIBC Asset Management Inc boosted its stake in shares of CAVA Group by 3.5% in the 3rd quarter. CIBC Asset Management Inc now owns 3,287 shares of the company’s stock valued at $407,000 after purchasing an additional 110 shares during the last quarter. GAMMA Investing LLC boosted its stake in shares of CAVA Group by 37.0% in the 4th quarter. GAMMA Investing LLC now owns 422 shares of the company’s stock valued at $48,000 after purchasing an additional 114 shares during the last quarter. Finally, Mainstream Capital Management LLC boosted its stake in shares of CAVA Group by 0.7% in the 4th quarter. Mainstream Capital Management LLC now owns 17,758 shares of the company’s stock valued at $2,003,000 after purchasing an additional 132 shares during the last quarter. 73.15% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research firms have recently commented on CAVA. Sanford C. Bernstein began coverage on shares of CAVA Group in a research note on Wednesday, November 20th. They issued a “market perform” rating and a $145.00 price objective on the stock. Piper Sandler upgraded shares of CAVA Group from a “neutral” rating to an “overweight” rating and dropped their target price for the company from $142.00 to $115.00 in a research report on Friday, February 28th. Wedbush reiterated an “outperform” rating and set a $150.00 target price on shares of CAVA Group in a research report on Wednesday, February 26th. William Blair reiterated an “outperform” rating on shares of CAVA Group in a research report on Wednesday, February 26th. Finally, Citigroup dropped their target price on shares of CAVA Group from $163.00 to $140.00 and set a “neutral” rating on the stock in a research report on Friday, February 21st. Seven research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat, CAVA Group currently has a consensus rating of “Moderate Buy” and an average price target of $131.47.

CAVA Group Trading Up 4.6 %

CAVA opened at $77.45 on Monday. The company’s fifty day moving average price is $114.08 and its two-hundred day moving average price is $124.14. CAVA Group, Inc. has a 1-year low of $58.22 and a 1-year high of $172.43. The company has a market cap of $8.95 billion, a price-to-earnings ratio of 168.37 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 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 for the quarter, compared to analyst estimates of $223.34 million. As a group, equities analysts forecast that CAVA Group, Inc. will post 0.5 earnings per share for the current fiscal year.

Insider Transactions at CAVA Group

In other news, CAO Adam David Phillips sold 615 shares of the company’s stock in a transaction on Monday, January 27th. The shares were sold at an average price of $124.39, for a total value of $76,499.85. Following the completion of the sale, the chief accounting officer now owns 10,884 shares in the company, valued at $1,353,860.76. This represents a 5.35 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Brett Schulman sold 20,564 shares of the company’s stock in a transaction on 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 position. 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 quarter. 12.10% of the stock is currently owned by corporate insiders.

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.