New York State Common Retirement Fund Acquires 8,500 Shares of CAVA Group, Inc. (NYSE:CAVA)

New York State Common Retirement Fund raised its holdings in CAVA Group, Inc. (NYSE:CAVA) by 18.3% during the fourth quarter, Holdings Channel.com reports. The fund owned 54,877 shares of the company’s stock after purchasing an additional 8,500 shares during the period. New York State Common Retirement Fund’s holdings in CAVA Group were worth $2,359,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Headlands Technologies LLC acquired a new stake in CAVA Group in the third quarter worth $26,000. PNC Financial Services Group Inc. raised its holdings in CAVA Group by 190.0% in the third quarter. PNC Financial Services Group Inc. now owns 870 shares of the company’s stock worth $27,000 after purchasing an additional 570 shares during the period. Clearstead Advisors LLC acquired a new stake in CAVA Group in the third quarter worth $31,000. Hollencrest Capital Management acquired a new stake in CAVA Group in the third quarter worth $75,000. Finally, Amalgamated Bank acquired a new stake in CAVA Group in the third quarter worth $103,000. 73.15% of the stock is owned by institutional investors.

Insider Transactions at CAVA Group

In other news, major shareholder Ronald M. Shaich sold 1,500,000 shares of the business’s stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $57.20, for a total transaction of $85,800,000.00. Following the transaction, the insider now directly owns 4,457,634 shares in the company, valued at approximately $254,976,664.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, major shareholder Ronald M. Shaich sold 1,500,000 shares of the business’s stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $57.20, for a total transaction of $85,800,000.00. Following the transaction, the insider now directly owns 4,457,634 shares in the company, valued at approximately $254,976,664.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Theodoros Xenohristos sold 47,239 shares of the business’s stock in a transaction dated Tuesday, March 26th. The stock was sold at an average price of $68.29, for a total transaction of $3,225,951.31. Following the transaction, the director now owns 526,521 shares in the company, valued at $35,956,119.09. The disclosure for this sale can be found here. Insiders have sold 3,547,239 shares of company stock worth $221,525,951 in the last ninety days.

Analyst Upgrades and Downgrades

CAVA has been the topic of a number of research analyst reports. William Blair restated an “outperform” rating on shares of CAVA Group in a report on Tuesday, February 27th. Barclays initiated coverage on shares of CAVA Group in a report on Monday, April 15th. They set an “equal weight” rating and a $58.00 price objective on the stock. Argus upgraded shares of CAVA Group from a “hold” rating to a “buy” rating and set a $70.00 price objective on the stock in a report on Wednesday, April 10th. Piper Sandler raised their price objective on shares of CAVA Group from $46.00 to $63.00 and gave the stock an “overweight” rating in a report on Wednesday, February 28th. Finally, JPMorgan Chase & Co. raised their price objective on shares of CAVA Group from $50.00 to $64.00 and gave the stock an “overweight” rating in a report on Tuesday, March 19th. Four equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat.com, CAVA Group presently has an average rating of “Moderate Buy” and a consensus price target of $60.42.

CAVA Group Stock Performance

CAVA Group stock opened at $74.21 on Wednesday. The company’s 50-day moving average is $64.78 and its 200-day moving average is $49.54. CAVA Group, Inc. has a fifty-two week low of $29.05 and a fifty-two week high of $77.14.

CAVA Group (NYSE:CAVA) last released its quarterly earnings data on Monday, February 26th. The company reported $0.02 earnings per share for the quarter, topping the consensus estimate of $0.01 by $0.01. The company had revenue of $175.50 million for the quarter, compared to analyst estimates of $240.03 million. CAVA Group had a net margin of 1.82% and a return on equity of 4.28%. The firm’s quarterly revenue was up 52.6% compared to the same quarter last year. As a group, research analysts predict that CAVA Group, Inc. will post 0.25 EPS for the current fiscal year.

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.