19,771 Shares in CAVA Group, Inc. (NYSE:CAVA) Acquired by Twin Capital Management Inc.

Twin Capital Management Inc. acquired a new stake in shares of CAVA Group, Inc. (NYSE:CAVA) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 19,771 shares of the company’s stock, valued at approximately $1,385,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its holdings in shares of CAVA Group by 15.5% during the 3rd quarter. Vanguard Group Inc. now owns 1,460,824 shares of the company’s stock valued at $44,745,000 after purchasing an additional 196,019 shares during the last quarter. Public Employees Retirement System of Ohio bought a new stake in shares of CAVA Group during the third quarter worth $201,000. Legato Capital Management LLC acquired a new position in shares of CAVA Group during the fourth quarter worth $328,000. Raymond James & Associates lifted its stake in shares of CAVA Group by 299.4% in the 4th quarter. Raymond James & Associates now owns 166,946 shares of the company’s stock valued at $7,175,000 after acquiring an additional 125,143 shares during the last quarter. Finally, Raymond James Financial Services Advisors Inc. boosted its holdings in shares of CAVA Group by 22.7% during the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 8,610 shares of the company’s stock valued at $370,000 after acquiring an additional 1,591 shares in the last quarter. 73.15% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research firms have commented on CAVA. Robert W. Baird increased their target price on CAVA Group from $90.00 to $92.00 and gave the company an “outperform” rating in a research report on Wednesday, May 29th. Piper Sandler downgraded shares of CAVA Group from an “overweight” rating to a “neutral” rating and lifted their target price for the stock from $63.00 to $92.00 in a research report on Thursday, May 30th. Argus upgraded shares of CAVA Group from a “hold” rating to a “buy” rating and set a $70.00 price target for the company in a research report on Wednesday, April 10th. JPMorgan Chase & Co. downgraded shares of CAVA Group from an “overweight” rating to a “neutral” rating and set a $77.00 price target for the company. in a research note on Monday, June 3rd. Finally, Citigroup boosted their price objective on shares of CAVA Group from $60.00 to $81.00 and gave the stock a “neutral” rating in a research note on Tuesday, May 21st. Six research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $82.75.

CAVA Group Stock Performance

Shares of NYSE:CAVA traded down $4.69 during midday trading on Wednesday, reaching $77.90. The company’s stock had a trading volume of 2,000,441 shares, compared to its average volume of 2,618,485. CAVA Group, Inc. has a fifty-two week low of $29.05 and a fifty-two week high of $98.69. The firm has a 50 day moving average price of $87.67 and a two-hundred day moving average price of $69.08. The firm has a market capitalization of $8.88 billion and a price-to-earnings ratio of 190.00.

CAVA Group (NYSE:CAVA) last issued its quarterly earnings results on Tuesday, May 28th. The company reported $0.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.04 by $0.08. The firm had revenue of $259.01 million for the quarter, compared to analyst estimates of $246.02 million. CAVA Group had a return on equity of 5.18% and a net margin of 3.75%. CAVA Group’s revenue for the quarter was up 27.5% on a year-over-year basis. As a group, research analysts anticipate that CAVA Group, Inc. will post 0.34 earnings per share for the current year.

Insider Buying and Selling

In other CAVA Group news, Director Ronald M. Shaich sold 1,231,979 shares of CAVA Group stock in a transaction on Wednesday, June 5th. The shares were sold at an average price of $87.25, for a total value of $107,490,167.75. Following the completion of the sale, the director now directly owns 5,000 shares of the company’s stock, valued at $436,250. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, Director Ronald M. Shaich sold 1,231,979 shares of the company’s stock in a transaction that occurred on Wednesday, June 5th. The stock was sold at an average price of $87.25, for a total transaction of $107,490,167.75. Following the transaction, the director now directly owns 5,000 shares of the company’s stock, valued at approximately $436,250. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Brett Schulman sold 66,414 shares of the firm’s stock in a transaction that occurred on Friday, June 14th. The shares were sold at an average price of $90.11, for a total value of $5,984,565.54. Following the completion of the sale, the chief executive officer now directly owns 904,094 shares of the company’s stock, valued at approximately $81,467,910.34. The disclosure for this sale can be found here. Insiders have sold a total of 1,420,564 shares of company stock valued at $124,690,835 over the last ninety days.

About CAVA Group

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.