Public Employees Retirement System of Ohio Reduces Stake in CAVA Group, Inc. (NYSE:CAVA)

Public Employees Retirement System of Ohio cut its holdings in shares of CAVA Group, Inc. (NYSE:CAVA) by 4.7% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 27,401 shares of the company’s stock after selling 1,366 shares during the quarter. Public Employees Retirement System of Ohio’s holdings in CAVA Group were worth $3,394,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. Nomura Asset Management Co. Ltd. purchased a new position in shares of CAVA Group during the third quarter worth $285,000. MML Investors Services LLC acquired a new stake in CAVA Group during the 3rd quarter worth about $288,000. XTX Topco Ltd acquired a new position in shares of CAVA Group in the 3rd quarter valued at about $828,000. National Bank of Canada FI boosted its stake in shares of CAVA Group by 782.7% in the third quarter. National Bank of Canada FI now owns 4,855 shares of the company’s stock worth $601,000 after buying an additional 4,305 shares during the last quarter. Finally, Two Sigma Advisers LP grew its holdings in 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 period. 73.15% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, Director Ronald M. Shaich sold 622,549 shares of the business’s stock in a transaction that occurred 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 sale, the director now directly owns 6,307 shares of the company’s stock, valued at approximately $942,265.80. The trade was a 99.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Karen Kochevar sold 15,000 shares of CAVA Group stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $140.00, for a total transaction of $2,100,000.00. Following the completion of the sale, the director now owns 1,307 shares of the company’s stock, valued at $182,980. This trade represents a 91.99 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 652,549 shares of company stock valued at $97,242,271 in the last three months. 12.10% of the stock is currently owned by insiders.

CAVA Group Trading Up 2.2 %

CAVA opened at $126.80 on Tuesday. CAVA Group, Inc. has a twelve month low of $39.05 and a twelve month high of $172.43. The firm has a market capitalization of $14.53 billion, a PE ratio of 275.63 and a beta of 2.93. The firm’s 50-day moving average price is $137.67 and its 200 day moving average price is $113.38.

CAVA Group (NYSE:CAVA) last issued its earnings results on Tuesday, November 12th. The company reported $0.15 earnings per share for the quarter, topping the consensus estimate of $0.11 by $0.04. CAVA Group had a return on equity of 9.10% and a net margin of 5.88%. The business had revenue of $243.82 million for the quarter, compared to analysts’ expectations of $233.05 million. During the same period in the previous year, the firm posted $0.06 EPS. The business’s revenue for the quarter was up 38.9% compared to the same quarter last year. As a group, analysts predict that CAVA Group, Inc. will post 0.5 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on CAVA. Robert W. Baird boosted their price target on CAVA Group from $125.00 to $148.00 and gave the company an “outperform” rating in a report on Monday, November 4th. 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. Wedbush lifted their price objective on shares of CAVA Group from $155.00 to $190.00 and gave the company an “outperform” rating in a report on Wednesday, November 13th. Sanford C. Bernstein started coverage on shares of CAVA Group in a research note on Wednesday, November 20th. They set a “market perform” rating and a $145.00 target price on the stock. Finally, UBS Group initiated coverage on CAVA Group in a report on Friday, September 27th. They issued a “neutral” rating and a $135.00 price target for the company. Eight research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, CAVA Group currently has a consensus rating of “Moderate Buy” and a consensus target price of $143.80.

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.