New York State Teachers Retirement System Boosts Stock Position in CAVA Group, Inc. $CAVA

New York State Teachers Retirement System lifted its stake in CAVA Group, Inc. (NYSE:CAVA) by 61.0% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 60,682 shares of the company’s stock after purchasing an additional 23,000 shares during the quarter. New York State Teachers Retirement System owned about 0.05% of CAVA Group worth $3,666,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in the stock. Nepsis Inc. raised its holdings in shares of CAVA Group by 1.2% during the 3rd quarter. Nepsis Inc. now owns 123,918 shares of the company’s stock worth $7,486,000 after acquiring an additional 1,505 shares during the period. Oregon Public Employees Retirement Fund increased its position in CAVA Group by 19.6% during the third quarter. Oregon Public Employees Retirement Fund now owns 20,100 shares of the company’s stock worth $1,214,000 after purchasing an additional 3,300 shares during the last quarter. State of Alaska Department of Revenue increased its position in CAVA Group by 18.0% during the third quarter. State of Alaska Department of Revenue now owns 10,899 shares of the company’s stock worth $658,000 after purchasing an additional 1,659 shares during the last quarter. Kingswood Wealth Advisors LLC raised its stake in CAVA Group by 8.2% during the third quarter. Kingswood Wealth Advisors LLC now owns 4,292 shares of the company’s stock worth $259,000 after purchasing an additional 327 shares during the period. Finally, Birch Hill Investment Advisors LLC acquired a new position in CAVA Group in the 3rd quarter valued at about $229,000. 73.15% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on CAVA shares. Argus dropped their price target on shares of CAVA Group from $76.00 to $60.00 and set a “buy” rating for the company in a research note on Thursday, November 13th. TD Cowen cut their target price on CAVA Group from $80.00 to $67.00 and set a “buy” rating for the company in a research note on Wednesday, November 5th. The Goldman Sachs Group restated a “neutral” rating and issued a $68.00 target price on shares of CAVA Group in a research report on Wednesday, November 5th. Citigroup reiterated a “neutral” rating on shares of CAVA Group in a report on Wednesday, November 12th. Finally, Truist Financial boosted their price objective on shares of CAVA Group from $66.00 to $78.00 and gave the company a “buy” rating in a report on Thursday, January 8th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and nine have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, CAVA Group presently has an average rating of “Moderate Buy” and a consensus price target of $81.83.

CAVA Group Stock Up 0.1%

Shares of CAVA stock opened at $72.06 on Friday. The firm has a 50 day moving average of $56.14 and a two-hundred day moving average of $65.87. The stock has a market capitalization of $8.36 billion, a PE ratio of 62.12, a P/E/G ratio of 3.69 and a beta of 2.41. CAVA Group, Inc. has a 52 week low of $43.41 and a 52 week high of $144.49.

CAVA Group (NYSE:CAVA) last released its earnings results on Tuesday, November 4th. The company reported $0.12 earnings per share (EPS) 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 company had revenue of $292.24 million during the quarter, compared to analysts’ expectations of $292.88 million. During the same quarter last year, the business posted $0.15 earnings per share. The company’s revenue for the quarter was up 19.9% on a year-over-year basis. Analysts expect that CAVA Group, Inc. will post 0.5 EPS for the current fiscal year.

Insider Buying and Selling

In other CAVA Group news, insider Kenneth Robert Bertram sold 3,788 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the insider owned 51,143 shares in the company, valued at $2,592,950.10. The trade was a 6.90% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 6.80% of the stock is owned by company insiders.

CAVA Group Profile

CAVA Group, Inc (NYSE: CAVA) is a leading fast-casual restaurant company specializing in Mediterranean-inspired cuisine. Operating under the CAVA brand, the company offers customizable bowls, pitas and salads built around a variety of proteins, grains, fresh vegetables and house-made spreads. With a focus on high-quality ingredients and made-to-order preparation, CAVA aims to deliver a casual yet elevated dining experience for dine-in, takeout and catering customers.

Founded in 2011 in the Washington, DC metro area by Ike Grigoropoulos, Dimitri Katsanis and Brett Schulman, CAVA has pursued an aggressive growth strategy that included the 2018 acquisition of Zoe’s Kitchen.