CAVA Group, Inc. (NYSE:CAVA) Holdings Reduced by Franklin Resources Inc.

Franklin Resources Inc. lessened its holdings in shares of CAVA Group, Inc. (NYSE:CAVA) by 4.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 947,553 shares of the company’s stock after selling 39,172 shares during the period. Franklin Resources Inc.’s holdings in CAVA Group were worth $106,884,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in CAVA. Arcadia Investment Management Corp MI bought a new stake in CAVA Group during the 4th quarter valued at $25,000. Allworth Financial LP increased its holdings in shares of CAVA Group by 369.2% during the fourth quarter. Allworth Financial LP now owns 244 shares of the company’s stock valued at $30,000 after purchasing an additional 192 shares during the period. Larson Financial Group LLC raised its stake in shares of CAVA Group by 274.0% during the fourth quarter. Larson Financial Group LLC now owns 273 shares of the company’s stock valued at $31,000 after purchasing an additional 200 shares in the last quarter. Whittier Trust Co. lifted its holdings in CAVA Group by 80.9% in the fourth quarter. Whittier Trust Co. now owns 284 shares of the company’s stock worth $32,000 after purchasing an additional 127 shares during the period. Finally, Signaturefd LLC grew its position in CAVA Group by 884.4% in the 4th quarter. Signaturefd LLC now owns 315 shares of the company’s stock valued at $36,000 after buying an additional 283 shares in the last quarter. 73.15% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other CAVA Group news, CEO Brett Schulman sold 20,564 shares of the business’s stock in a transaction dated Tuesday, January 21st. The stock was sold at an average price of $119.18, for a total value of $2,450,817.52. Following the completion of the sale, the chief executive officer now owns 776,369 shares of the company’s stock, valued at $92,527,657.42. The trade was a 2.58 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Adam David Phillips sold 615 shares of the stock in a transaction dated Monday, January 27th. The shares were sold at an average price of $124.39, for a total value of $76,499.85. Following the transaction, the chief accounting officer now directly owns 10,884 shares in the company, valued at approximately $1,353,860.76. This represents a 5.35 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 29,235 shares of company stock worth $3,514,101 in the last three months. 12.10% of the stock is owned by insiders.

CAVA Group Price Performance

NYSE CAVA opened at $90.41 on Thursday. The company has a 50 day simple moving average of $106.07 and a 200-day simple moving average of $121.20. CAVA Group, Inc. has a 52-week low of $58.22 and a 52-week high of $172.43. The firm has a market capitalization of $10.45 billion, a price-to-earnings ratio of 196.54 and a beta of 3.58.

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

Analysts Set New Price Targets

A number of research firms have commented on CAVA. Loop Capital dropped their price target on shares of CAVA Group from $147.00 to $100.00 and set a “hold” rating on the stock in a research report on Thursday, February 27th. Wedbush restated an “outperform” rating and issued a $150.00 target price on shares of CAVA Group in a research report on Wednesday, February 26th. Barclays decreased their price target on CAVA Group from $127.00 to $104.00 and set an “equal weight” rating for the company in a research note on Wednesday, February 26th. TD Securities dropped their price objective on CAVA Group from $150.00 to $130.00 and set a “buy” rating on the stock in a research note on Wednesday, February 26th. Finally, UBS Group decreased their target price on CAVA Group from $160.00 to $125.00 and set a “neutral” rating for the company in a research note on Tuesday, January 7th. Six research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat.com, CAVA Group has an average rating of “Moderate Buy” and an average target price of $130.25.

CAVA Group Company 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.