Mainstream Capital Management LLC Boosts Stock Position in CAVA Group, Inc. (NYSE:CAVA)

Mainstream Capital Management LLC raised its stake in CAVA Group, Inc. (NYSE:CAVA) by 0.7% during the 4th quarter, Holdings Channel.com reports. The firm owned 17,758 shares of the company’s stock after buying an additional 132 shares during the quarter. CAVA Group accounts for 1.4% of Mainstream Capital Management LLC’s investment portfolio, making the stock its 14th biggest holding. Mainstream Capital Management LLC’s holdings in CAVA Group were worth $2,003,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in CAVA. Jennison Associates LLC grew its stake in shares of CAVA Group by 36,658.7% during the fourth quarter. Jennison Associates LLC now owns 2,461,732 shares of the company’s stock worth $277,683,000 after acquiring an additional 2,455,035 shares during 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. grew its stake 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 worth $63,918,000 after acquiring an additional 373,835 shares during the last quarter. Two Sigma Advisers LP grew its stake in shares of CAVA Group by 17.0% during the third quarter. Two Sigma Advisers LP now owns 2,210,900 shares of the company’s stock worth $273,820,000 after acquiring an additional 321,800 shares during the last quarter. Finally, State Street Corp grew its stake in shares of CAVA Group by 33.3% during the third quarter. State Street Corp now owns 1,267,333 shares of the company’s stock worth $156,959,000 after acquiring an additional 316,514 shares during the last quarter. Hedge funds and other institutional investors own 73.15% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the stock. TD Securities cut their price target on shares of CAVA Group from $150.00 to $130.00 and set a “buy” rating on the stock in a report on Wednesday, February 26th. JPMorgan Chase & Co. increased their price target on shares of CAVA Group from $90.00 to $110.00 and gave the stock a “neutral” rating in a report on Wednesday, November 13th. Piper Sandler upgraded shares of CAVA Group from a “neutral” rating to an “overweight” rating and cut their price target for the stock from $142.00 to $115.00 in a report on Friday. Morgan Stanley increased their price target on shares of CAVA Group from $123.00 to $135.00 and gave the stock an “equal weight” rating in a report on Thursday, November 14th. Finally, TD Cowen increased their price target on shares of CAVA Group from $130.00 to $150.00 and gave the stock a “buy” rating in a report on Wednesday, November 13th. Seven analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat.com, CAVA Group has an average rating of “Moderate Buy” and an average price target of $131.47.

CAVA Group Stock Down 7.9 %

Shares of NYSE:CAVA opened at $87.55 on Tuesday. CAVA Group, Inc. has a 52-week low of $56.03 and a 52-week high of $172.43. The stock’s fifty day simple moving average is $120.12 and its 200-day simple moving average is $125.93. The company has a market capitalization of $10.12 billion, a P/E ratio of 190.33 and a beta of 3.25.

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

Insider Activity at CAVA Group

In related news, insider Theodoros Xenohristos sold 851 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 value of $101,422.18. Following the completion of the transaction, the insider now directly owns 358,995 shares in the company, valued at approximately $42,785,024.10. This represents a 0.24 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Ronald M. Shaich sold 622,549 shares of the company’s stock in a transaction on Monday, December 9th. The shares were sold at an average price of $149.40, for a total value of $93,008,820.60. Following the completion of the transaction, the director now owns 6,307 shares of the company’s stock, valued at $942,265.80. The trade was a 99.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 651,784 shares of company stock worth $96,522,922. 12.10% of the stock is currently owned by insiders.

CAVA Group 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.