New York State Common Retirement Fund Increases Holdings in CAVA Group, Inc. $CAVA

New York State Common Retirement Fund increased its position in CAVA Group, Inc. (NYSE:CAVA) by 46.0% during the third quarter, HoldingsChannel.com reports. The firm owned 129,912 shares of the company’s stock after acquiring an additional 40,932 shares during the quarter. New York State Common Retirement Fund’s holdings in CAVA Group were worth $7,848,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Bison Wealth LLC purchased a new position in CAVA Group in the fourth quarter worth about $208,000. Goldman Sachs Group Inc. raised its holdings in CAVA Group by 14.3% in the 1st quarter. Goldman Sachs Group Inc. now owns 606,780 shares of the company’s stock worth $52,432,000 after acquiring an additional 75,828 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in CAVA Group by 17.3% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 236,622 shares of the company’s stock worth $20,447,000 after acquiring an additional 34,860 shares during the last quarter. KLP Kapitalforvaltning AS lifted its position in CAVA Group by 5.0% in the 2nd quarter. KLP Kapitalforvaltning AS now owns 18,800 shares of the company’s stock valued at $1,584,000 after acquiring an additional 900 shares in the last quarter. Finally, Kingswood Wealth Advisors LLC boosted its stake in CAVA Group by 11.4% during the 2nd quarter. Kingswood Wealth Advisors LLC now owns 3,965 shares of the company’s stock valued at $334,000 after purchasing an additional 406 shares during the last quarter. 73.15% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research firms have recently weighed in on CAVA. Mizuho boosted their price target on CAVA Group from $52.00 to $64.00 and gave the stock a “neutral” rating in a research note on Friday, January 9th. TD Cowen reissued a “buy” rating on shares of CAVA Group in a report on Monday, January 5th. Telsey Advisory Group began coverage on shares of CAVA Group in a research report on Friday, January 9th. They issued an “outperform” rating and a $85.00 target price for the company. UBS Group raised their price target on CAVA Group from $58.00 to $66.00 and gave the stock a “neutral” rating in a research note on Tuesday, January 6th. Finally, Barclays increased their target price on CAVA Group from $52.00 to $70.00 and gave the company an “equal weight” rating in a report on Wednesday, January 7th. One research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and nine have given a Hold rating to the stock. According to MarketBeat.com, CAVA Group has an average rating of “Moderate Buy” and an average target price of $81.50.

Insider Buying and Selling

In other news, CEO Brett Schulman sold 4,542 shares of the firm’s stock in a transaction on Tuesday, January 27th. The shares were sold at an average price of $62.14, for a total transaction of $282,239.88. Following the sale, the chief executive officer directly owned 802,783 shares in the company, valued at $49,884,935.62. This trade represents a 0.56% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Theodoros Xenohristos sold 1,039 shares of the company’s stock in a transaction on Tuesday, January 27th. The stock was sold at an average price of $62.14, for a total transaction of $64,563.46. Following the completion of the transaction, the insider directly owned 332,205 shares of the company’s stock, valued at $20,643,218.70. This represents a 0.31% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 42,843 shares of company stock worth $2,764,355 in the last ninety days. Corporate insiders own 6.80% of the company’s stock.

CAVA Group Stock Performance

NYSE:CAVA opened at $65.42 on Thursday. The stock has a 50-day simple moving average of $60.57 and a two-hundred day simple moving average of $63.73. The firm has a market capitalization of $7.59 billion, a PE ratio of 56.40, a P/E/G ratio of 4.47 and a beta of 2.41. CAVA Group, Inc. has a 52-week low of $43.41 and a 52-week high of $144.49.

CAVA Group (NYSE:CAVA) last posted its quarterly earnings data on Tuesday, November 4th. The company reported $0.12 EPS for the quarter, missing the consensus estimate of $0.13 by ($0.01). The company had revenue of $292.24 million during the quarter, compared to the consensus estimate of $292.88 million. CAVA Group had a return on equity of 8.88% and a net margin of 12.14%.The firm’s quarterly revenue was up 19.9% compared to the same quarter last year. During the same period last year, the business earned $0.15 EPS. Equities analysts forecast that CAVA Group, Inc. will post 0.5 earnings per share for the current fiscal year.

About CAVA Group

CAVA Group, Inc (NYSE: CAVA) is a leading fast-casual restaurant company specializing in Mediterranean-inspired cuisine. Operating under the CAVA brand, the company offers customizable bowls, pitas and salads built around a variety of proteins, grains, fresh vegetables and house-made spreads. With a focus on high-quality ingredients and made-to-order preparation, CAVA aims to deliver a casual yet elevated dining experience for dine-in, takeout and catering customers.

Founded in 2011 in the Washington, DC metro area by Ike Grigoropoulos, Dimitri Katsanis and Brett Schulman, CAVA has pursued an aggressive growth strategy that included the 2018 acquisition of Zoe’s Kitchen.