Mitsubishi UFJ Asset Management Co. Ltd. Boosts Stock Position in CAVA Group, Inc. $CAVA

Mitsubishi UFJ Asset Management Co. Ltd. boosted its stake in shares of CAVA Group, Inc. (NYSE:CAVA) by 26.6% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 131,306 shares of the company’s stock after acquiring an additional 27,600 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd.’s holdings in CAVA Group were worth $7,951,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Principal Financial Group Inc. raised its stake in shares of CAVA Group by 215.2% during the fourth quarter. Principal Financial Group Inc. now owns 695,961 shares of the company’s stock worth $40,846,000 after purchasing an additional 475,189 shares during the last quarter. Benjamin Edwards Inc. grew its position in CAVA Group by 36.1% in the 4th quarter. Benjamin Edwards Inc. now owns 5,863 shares of the company’s stock valued at $344,000 after buying an additional 1,554 shares during the last quarter. Composition Wealth LLC increased its stake in CAVA Group by 12.4% in the 4th quarter. Composition Wealth LLC now owns 9,975 shares of the company’s stock valued at $585,000 after buying an additional 1,099 shares during the period. Fifth Third Bancorp increased its stake in CAVA Group by 27.8% in the 4th quarter. Fifth Third Bancorp now owns 2,571 shares of the company’s stock valued at $151,000 after buying an additional 560 shares during the period. Finally, New York State Teachers Retirement System raised its position in CAVA Group by 1.0% during the 4th quarter. New York State Teachers Retirement System now owns 61,282 shares of the company’s stock worth $3,597,000 after buying an additional 600 shares during the last quarter. 73.15% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages have recently weighed in on CAVA. Roth Mkm started coverage on shares of CAVA Group in a report on Tuesday, April 21st. They issued a “buy” rating and a $106.00 target price on the stock. Truist Financial increased their price target on shares of CAVA Group from $80.00 to $85.00 and gave the stock a “buy” rating in a report on Wednesday, February 25th. Weiss Ratings restated a “hold (c)” rating on shares of CAVA Group in a research report on Wednesday, January 21st. UBS Group boosted their target price on CAVA Group from $69.00 to $75.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 25th. Finally, Telsey Advisory Group increased their target price on CAVA Group from $85.00 to $88.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 25th. One research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating, eleven have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $89.70.

CAVA Group Stock Performance

CAVA opened at $79.52 on Monday. The company has a market cap of $9.26 billion, a price-to-earnings ratio of 147.27, a PEG ratio of 5.62 and a beta of 1.90. CAVA Group, Inc. has a one year low of $43.41 and a one year high of $101.50. The business’s fifty day moving average is $85.49 and its two-hundred day moving average is $68.47.

CAVA Group (NYSE:CAVA) last announced its quarterly earnings results on Tuesday, February 24th. The company reported $0.04 earnings per share for the quarter, beating analysts’ consensus estimates of $0.03 by $0.01. CAVA Group had a return on equity of 8.43% and a net margin of 5.40%.The business had revenue of $274.99 million during the quarter, compared to analysts’ expectations of $268.04 million. During the same quarter last year, the business posted $0.05 earnings per share. The business’s revenue for the quarter was up 20.9% on a year-over-year basis. On average, analysts predict that CAVA Group, Inc. will post 0.52 EPS for the current fiscal year.

CAVA Group Profile

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.