The Manufacturers Life Insurance Company Has $2.75 Million Stake in CAVA Group, Inc. (NYSE:CAVA)

The Manufacturers Life Insurance Company lifted its position in shares of CAVA Group, Inc. (NYSE:CAVA) by 5.5% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 22,162 shares of the company’s stock after purchasing an additional 1,155 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in CAVA Group were worth $2,745,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in CAVA. Comerica Bank increased its holdings in shares of CAVA Group by 14.9% in the first quarter. Comerica Bank now owns 12,105 shares of the company’s stock worth $848,000 after acquiring an additional 1,567 shares in the last quarter. Cetera Investment Advisers bought a new position in CAVA Group in the first quarter valued at approximately $2,455,000. Cetera Advisors LLC acquired a new position in shares of CAVA Group in the first quarter valued at approximately $301,000. SG Americas Securities LLC acquired a new stake in shares of CAVA Group during the second quarter worth $2,440,000. Finally, Wealth Enhancement Advisory Services LLC raised its holdings in shares of CAVA Group by 130.1% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 72,787 shares of the company’s stock worth $6,751,000 after acquiring an additional 41,154 shares during the period. Institutional investors and hedge funds own 73.15% of the company’s stock.

Insiders Place Their Bets

In related news, Director Karen Kochevar sold 15,000 shares of the firm’s stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $142.23, for a total value of $2,133,450.00. Following the transaction, the director now owns 1,307 shares in the company, valued at approximately $185,894.61. This trade represents a 91.99 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 12.10% of the company’s stock.

CAVA Group Price Performance

Shares of CAVA opened at $150.88 on Monday. The company’s 50-day moving average is $137.34 and its 200-day moving average is $111.81. The firm has a market capitalization of $17.29 billion, a PE ratio of 328.00 and a beta of 2.93. CAVA Group, Inc. has a fifty-two week low of $31.47 and a fifty-two week high of $172.43.

CAVA Group (NYSE:CAVA) last posted its earnings results on Tuesday, November 12th. The company reported $0.15 EPS for the quarter, beating 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 company had revenue of $243.82 million for the quarter, compared to the consensus estimate of $233.05 million. During the same quarter in the prior year, the business earned $0.06 earnings per share. The firm’s revenue for the quarter was up 38.9% on a year-over-year basis. Analysts predict that CAVA Group, Inc. will post 0.5 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on CAVA. Citigroup increased their price objective on CAVA Group from $140.00 to $163.00 and gave the stock a “neutral” rating in a report on Wednesday, November 13th. Robert W. Baird raised their price target on shares of CAVA Group from $125.00 to $148.00 and gave the stock an “outperform” rating in a research note on Monday, November 4th. Wedbush boosted their price objective on shares of CAVA Group from $155.00 to $190.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 13th. Morgan Stanley raised their target price on shares of CAVA Group from $123.00 to $135.00 and gave the company an “equal weight” rating in a research report on Thursday, November 14th. Finally, Jefferies Financial Group boosted their price target on shares of CAVA Group from $94.00 to $117.00 and gave the stock a “buy” rating in a research report on Friday, August 23rd. Eight research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $143.80.

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.