American Century Companies Inc. Increases Stock Holdings in CAVA Group, Inc. $CAVA

American Century Companies Inc. grew its stake in shares of CAVA Group, Inc. (NYSE:CAVA) by 102.7% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 432,788 shares of the company’s stock after purchasing an additional 219,325 shares during the quarter. American Century Companies Inc. owned approximately 0.37% of CAVA Group worth $36,454,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also modified their holdings of the company. Vanguard Group Inc. raised its stake in CAVA Group by 13.2% during the 1st quarter. Vanguard Group Inc. now owns 9,065,782 shares of the company’s stock worth $783,374,000 after acquiring an additional 1,054,180 shares in the last quarter. Price T Rowe Associates Inc. MD grew its holdings in shares of CAVA Group by 114.4% during the first quarter. Price T Rowe Associates Inc. MD now owns 2,394,561 shares of the company’s stock worth $206,915,000 after purchasing an additional 1,277,912 shares during the last quarter. Geode Capital Management LLC increased its position in shares of CAVA Group by 16.2% during the second quarter. Geode Capital Management LLC now owns 1,622,898 shares of the company’s stock worth $136,715,000 after purchasing an additional 226,785 shares in the last quarter. Franklin Resources Inc. lifted its holdings in shares of CAVA Group by 8.6% in the 2nd quarter. Franklin Resources Inc. now owns 1,082,183 shares of the company’s stock valued at $91,152,000 after purchasing an additional 85,834 shares during the last quarter. Finally, Alliancebernstein L.P. lifted its holdings in shares of CAVA Group by 2,072.1% in the 1st quarter. Alliancebernstein L.P. now owns 852,691 shares of the company’s stock valued at $73,681,000 after purchasing an additional 813,434 shares during the last quarter. Hedge funds and other institutional investors own 73.15% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on CAVA. Bank of America reduced their price objective on CAVA Group from $121.00 to $100.00 and set a “buy” rating for the company in a research note on Wednesday, August 13th. Robert W. Baird set a $95.00 price target on shares of CAVA Group in a research report on Wednesday, August 13th. TD Cowen decreased their price target on shares of CAVA Group from $80.00 to $67.00 and set a “buy” rating for the company in a research note on Wednesday, November 5th. Piper Sandler dropped their price objective on shares of CAVA Group from $100.00 to $71.00 and set an “overweight” rating on the stock in a research note on Wednesday, November 5th. Finally, Citigroup reaffirmed a “neutral” rating on shares of CAVA Group in a report on Wednesday, November 12th. One research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and nine have given a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $81.75.

Insider Activity at CAVA Group

In other news, insider Kenneth Robert Bertram sold 3,788 shares of the company’s stock in a transaction on Wednesday, November 26th. The shares were sold at an average price of $50.70, for a total transaction of $192,051.60. Following the transaction, the insider directly owned 51,143 shares of the company’s stock, valued at $2,592,950.10. This represents a 6.90% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 6.80% of the company’s stock.

CAVA Group Trading Down 1.3%

NYSE CAVA opened at $49.01 on Friday. The stock has a market capitalization of $5.68 billion, a price-to-earnings ratio of 42.25, a PEG ratio of 2.77 and a beta of 2.47. The business’s 50 day moving average is $56.81 and its two-hundred day moving average is $71.13. CAVA Group, Inc. has a 12-month low of $43.41 and a 12-month high of $153.34.

CAVA Group (NYSE:CAVA) last posted its quarterly earnings results on Tuesday, November 4th. The company reported $0.12 earnings per share for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.01). CAVA Group had a net margin of 12.14% and a return on equity of 8.88%. The business had revenue of $292.24 million during the quarter, compared to analysts’ expectations of $292.88 million. During the same quarter last year, the firm earned $0.15 earnings per share. The firm’s quarterly revenue was up 19.9% compared to the same quarter last year. Equities analysts forecast that CAVA Group, Inc. will post 0.5 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.