Schroder Investment Management Group Decreases Stock Position in CAVA Group, Inc. $CAVA

by · The Markets Daily

Schroder Investment Management Group decreased its holdings in shares of CAVA Group, Inc. (NYSE:CAVA – Free Report) by 62.1% during the second quarter, Holdings Channel.com reports. The fund owned 20,146 shares of the company’s stock after selling 33,056 shares during the period. Schroder Investment Management Group’s holdings in CAVA Group were worth $1,697,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in CAVA. Neuberger Berman Group LLC raised its position in shares of CAVA Group by 6,784.0% in the second quarter. Neuberger Berman Group LLC now owns 321,068 shares of the company’s stock worth $27,044,000 after acquiring an additional 316,404 shares during the period. Norges Bank acquired a new stake in CAVA Group in the 2nd quarter valued at about $56,277,000. Scotia Capital Inc. lifted its position in CAVA Group by 100.0% during the second quarter. Scotia Capital Inc. now owns 7,737 shares of the company’s stock worth $652,000 after buying an additional 3,868 shares in the last quarter. Northwestern Mutual Wealth Management Co. raised its holdings in shares of CAVA Group by 17.6% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 445,204 shares of the company’s stock worth $37,500,000 after acquiring an additional 66,707 shares during the period. Finally, State Board of Administration of Florida Retirement System boosted its holdings in CAVA Group by 15.4% in the 2nd quarter. State Board of Administration of Florida Retirement System now owns 77,745 shares of the company’s stock valued at $6,548,000 after purchasing an additional 10,360 shares during the last quarter. Hedge funds and other institutional investors own 73.15% of the company’s stock.

Insider Buying and Selling

In other CAVA Group news, insider Kenneth Robert Bertram sold 3,788 shares of the firm’s stock in a transaction on Wednesday, November 26th. The stock was sold at an average price of $50.70, for a total value of $192,051.60. Following the sale, the insider directly owned 51,143 shares in the company, valued at $2,592,950.10. This trade represents a 6.90% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 6.80% of the stock is owned by company insiders.

Analyst Ratings Changes

Several brokerages have weighed in on CAVA. Truist Financial initiated coverage on shares of CAVA Group in a research note on Thursday. They set a “buy” rating and a $66.00 target price for the company. Weiss Ratings restated a “hold (c)” rating on shares of CAVA Group in a report on Wednesday, October 8th. Argus cut their target price on shares of CAVA Group from $76.00 to $60.00 and set a “buy” rating on the stock in a research note on Thursday, November 13th. Piper Sandler decreased their price target on shares of CAVA Group from $100.00 to $71.00 and set an “overweight” rating for the company in a research report on Wednesday, November 5th. Finally, Barclays dropped their price target on shares of CAVA Group from $64.00 to $52.00 and set an “equal weight” rating for the company in a research note on Wednesday, November 5th. One research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and nine have assigned a Hold rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $81.00.

Get Our Latest Stock Report on CAVA Group

CAVA Group Stock Down 2.0%

Shares of CAVA Group stock opened at $53.41 on Friday. CAVA Group, Inc. has a 52-week low of $43.41 and a 52-week high of $151.91. The company has a market capitalization of $6.20 billion, a P/E ratio of 46.04, a P/E/G ratio of 3.02 and a beta of 2.51. The company has a 50 day moving average of $55.74 and a 200 day moving average of $69.67.

CAVA Group (NYSE:CAVA – Get Free Report) last announced its quarterly earnings data on Tuesday, November 4th. The company reported $0.12 EPS for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.01). The firm had revenue of $292.24 million during the quarter, compared to analysts’ expectations of $292.88 million. CAVA Group had a net margin of 12.14% and a return on equity of 8.88%. The company’s revenue for the quarter was up 19.9% on a year-over-year basis. During the same period in the prior year, the company posted $0.15 earnings per share. As a group, research analysts anticipate that CAVA Group, Inc. will post 0.5 earnings per share for the current fiscal year.

CAVA Group Company Profile

(Free Report)

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.

Further Reading

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