Price T Rowe Associates Inc. MD Has $243.14 Million Stake in CAVA Group, Inc. (NYSE:CAVA)

Price T Rowe Associates Inc. MD lowered its stake in shares of CAVA Group, Inc. (NYSE:CAVA) by 18.5% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 3,470,949 shares of the company’s stock after selling 786,078 shares during the period. Price T Rowe Associates Inc. MD owned approximately 3.04% of CAVA Group worth $243,141,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Private Advisor Group LLC raised its holdings in shares of CAVA Group by 69.1% during the first quarter. Private Advisor Group LLC now owns 33,619 shares of the company’s stock valued at $2,355,000 after purchasing an additional 13,739 shares during the period. CHURCHILL MANAGEMENT Corp acquired a new stake in shares of CAVA Group in the 1st quarter worth about $3,213,000. Swiss National Bank acquired a new stake in shares of CAVA Group in the 4th quarter worth about $1,926,000. Stephens Inc. AR acquired a new stake in shares of CAVA Group in the 4th quarter worth about $1,014,000. Finally, Virtu Financial LLC acquired a new stake in shares of CAVA Group in the 4th quarter worth about $240,000. Institutional investors and hedge funds own 73.15% of the company’s stock.

Wall Street Analyst Weigh In

CAVA has been the topic of a number of analyst reports. Barclays upped their target price on shares of CAVA Group from $58.00 to $72.00 and gave the stock an “equal weight” rating in a report on Thursday, May 30th. Stifel Nicolaus upped their price objective on shares of CAVA Group from $66.00 to $90.00 and gave the stock a “buy” rating in a research report on Friday, May 24th. Wedbush lifted their target price on shares of CAVA Group from $90.00 to $100.00 and gave the stock an “outperform” rating in a research report on Thursday, July 11th. Robert W. Baird lifted their price target on CAVA Group from $90.00 to $92.00 and gave the stock an “outperform” rating in a report on Wednesday, May 29th. Finally, Argus upgraded CAVA Group from a “hold” rating to a “buy” rating and set a $70.00 price objective for the company in a research note on Wednesday, April 10th. Six equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, CAVA Group currently has a consensus rating of “Moderate Buy” and an average target price of $82.75.

Insider Activity

In related news, CFO Tricia K. Tolivar sold 5,949 shares of the company’s stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $94.47, for a total transaction of $562,002.03. Following the sale, the chief financial officer now owns 297,600 shares of the company’s stock, valued at approximately $28,114,272. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CEO Brett Schulman sold 66,414 shares of the company’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 transaction of $5,984,565.54. Following the sale, the chief executive officer now owns 904,094 shares of the company’s stock, valued at approximately $81,467,910.34. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Tricia K. Tolivar sold 5,949 shares of the stock in a transaction on Monday, July 1st. The stock was sold at an average price of $94.47, for a total transaction of $562,002.03. Following the completion of the transaction, the chief financial officer now directly owns 297,600 shares in the company, valued at approximately $28,114,272. 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 quarter.

CAVA Group Trading Up 2.1 %

Shares of NYSE CAVA traded up $1.61 during midday trading on Friday, hitting $79.84. The company’s stock had a trading volume of 1,735,104 shares, compared to its average volume of 2,516,498. The stock has a fifty day moving average price of $87.73 and a 200 day moving average price of $69.65. CAVA Group, Inc. has a one year low of $29.05 and a one year high of $98.69. The firm has a market capitalization of $9.10 billion and a price-to-earnings ratio of 194.74.

CAVA Group (NYSE:CAVA) last posted 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. CAVA Group had a net margin of 3.75% and a return on equity of 5.18%. The company had revenue of $259.01 million for the quarter, compared to analyst estimates of $246.02 million. The company’s revenue for the quarter was up 27.5% on a year-over-year basis. On average, equities research analysts predict that CAVA Group, Inc. will post 0.34 earnings per share for the current fiscal year.

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.