Natixis Advisors LLC Acquires New Shares in CAVA Group, Inc. (NYSE:CAVA)

Natixis Advisors LLC bought a new position in shares of CAVA Group, Inc. (NYSE:CAVA) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 10,982 shares of the company’s stock, valued at approximately $1,360,000.

A number of other hedge funds have also recently made changes to their positions in the stock. Renaissance Technologies LLC lifted its holdings in CAVA Group by 102.5% during the 2nd quarter. Renaissance Technologies LLC now owns 892,400 shares of the company’s stock worth $82,770,000 after buying an additional 451,800 shares during the last quarter. Driehaus Capital Management LLC grew its holdings in shares of CAVA Group by 51.8% during the second quarter. Driehaus Capital Management LLC now owns 732,603 shares of the company’s stock worth $67,949,000 after buying an additional 250,110 shares during the last quarter. Marshall Wace LLP grew its stake in shares of CAVA Group by 130.5% in the 2nd quarter. Marshall Wace LLP now owns 420,577 shares of the company’s stock valued at $39,009,000 after purchasing an additional 238,087 shares during the last quarter. ING Groep NV acquired a new position in CAVA Group in the 3rd quarter valued at $17,748,000. Finally, Nepsis Inc. acquired a new position in shares of CAVA Group during the second quarter worth about $13,090,000. Hedge funds and other institutional investors own 73.15% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on CAVA. Piper Sandler increased their price target on shares of CAVA Group from $100.00 to $142.00 and gave the company a “neutral” rating in a report on Friday, November 15th. Barclays boosted their price target on CAVA Group from $113.00 to $142.00 and gave the stock an “equal weight” rating in a report on Wednesday, November 13th. William Blair reissued an “outperform” rating on shares of CAVA Group in a research note on Wednesday, November 13th. Robert W. Baird raised their price target on CAVA Group from $125.00 to $148.00 and gave the stock an “outperform” rating in a research note on Monday, November 4th. Finally, Stifel Nicolaus upped their price objective on shares of CAVA Group from $118.00 to $175.00 and gave the company a “buy” rating in a research note on Wednesday, November 13th. Eight analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $143.80.

CAVA Group Price Performance

Shares of CAVA Group stock opened at $143.50 on Wednesday. CAVA Group, Inc. has a 52-week low of $31.47 and a 52-week high of $172.43. The firm has a market capitalization of $16.44 billion, a PE ratio of 309.91 and a beta of 3.23. The company’s fifty day moving average price is $134.05 and its two-hundred day moving average price is $107.62.

CAVA Group (NYSE:CAVA) last issued its quarterly earnings data on Tuesday, November 12th. The company reported $0.15 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.11 by $0.04. The company had revenue of $243.82 million during the quarter, compared to analysts’ expectations of $233.05 million. CAVA Group had a return on equity of 9.10% and a net margin of 5.88%. The business’s revenue was up 38.9% on a year-over-year basis. During the same period last year, the business earned $0.06 earnings per share. Analysts predict that CAVA Group, Inc. will post 0.5 earnings per share for the current fiscal year.

Insider Activity at CAVA Group

In other CAVA Group news, Director Karen Kochevar sold 15,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $142.23, for a total value of $2,133,450.00. Following the transaction, the director now directly owns 1,307 shares of the company’s stock, valued at approximately $185,894.61. This trade represents a 91.99 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 12.10% of the stock is currently owned by company 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.