Rockefeller Capital Management L.P. Buys 12,710 Shares of CAVA Group, Inc. $CAVA

Rockefeller Capital Management L.P. raised its stake in CAVA Group, Inc. (NYSE:CAVA) by 350.9% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 16,332 shares of the company’s stock after acquiring an additional 12,710 shares during the quarter. Rockefeller Capital Management L.P.’s holdings in CAVA Group were worth $959,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Capital Research Global Investors lifted its position in shares of CAVA Group by 27.2% during the fourth quarter. Capital Research Global Investors now owns 8,440,040 shares of the company’s stock worth $495,344,000 after purchasing an additional 1,805,174 shares in the last quarter. Capital International Investors increased its holdings in shares of CAVA Group by 15.5% in the fourth quarter. Capital International Investors now owns 4,885,317 shares of the company’s stock valued at $286,718,000 after purchasing an additional 656,581 shares in the last quarter. Morgan Stanley raised its position in CAVA Group by 33.7% in the 4th quarter. Morgan Stanley now owns 3,318,894 shares of the company’s stock worth $194,786,000 after purchasing an additional 835,628 shares during the last quarter. Alliancebernstein L.P. raised its position in CAVA Group by 118.3% in the 3rd quarter. Alliancebernstein L.P. now owns 2,953,688 shares of the company’s stock worth $178,432,000 after purchasing an additional 1,600,630 shares during the last quarter. Finally, State Street Corp raised its position in CAVA Group by 1.3% in the 4th quarter. State Street Corp now owns 2,920,442 shares of the company’s stock worth $171,401,000 after purchasing an additional 36,508 shares during the last quarter. 73.15% of the stock is owned by institutional investors.

Insider Activity at CAVA Group

In other news, Director Karen Kochevar sold 10,000 shares of the business’s stock in a transaction on Thursday, June 18th. The shares were sold at an average price of $90.00, for a total value of $900,000.00. Following the completion of the transaction, the director owned 3,074 shares of the company’s stock, valued at $276,660. The trade was a 76.49% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Adam David Phillips sold 5,181 shares of the company’s stock in a transaction on Thursday, May 21st. The shares were sold at an average price of $77.14, for a total transaction of $399,662.34. Following the completion of the sale, the chief accounting officer owned 9,505 shares of the company’s stock, valued at approximately $733,215.70. This represents a 35.28% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 91,747 shares of company stock valued at $7,970,838. 6.70% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

CAVA has been the topic of a number of recent research reports. Telsey Advisory Group increased their price objective on CAVA Group from $92.00 to $95.00 and gave the company an “outperform” rating in a research report on Wednesday, May 20th. Royal Bank Of Canada upped their price target on CAVA Group from $100.00 to $105.00 and gave the company an “outperform” rating in a research note on Wednesday, May 20th. Sanford C. Bernstein reiterated an “outperform” rating and issued a $95.00 price objective on shares of CAVA Group in a research report on Wednesday, May 20th. BNP Paribas Exane assumed coverage on CAVA Group in a report on Monday, March 30th. They set a “neutral” rating and a $91.00 price objective for the company. Finally, UBS Group upgraded shares of CAVA Group from a “neutral” rating to a “buy” rating and upped their target price for the company from $85.00 to $90.00 in a research report on Wednesday, June 10th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating, nine have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $93.44.

CAVA Group Price Performance

Shares of NYSE:CAVA opened at $76.74 on Friday. The company has a market capitalization of $8.94 billion, a price-to-earnings ratio of 147.57, a P/E/G ratio of 5.47 and a beta of 1.68. The firm’s 50 day simple moving average is $82.43 and its 200 day simple moving average is $76.16. CAVA Group, Inc. has a fifty-two week low of $43.41 and a fifty-two week high of $98.79.

CAVA Group (NYSE:CAVA) last issued its quarterly earnings data on Tuesday, May 19th. The company reported $0.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.17 by $0.03. CAVA Group had a net margin of 4.79% and a return on equity of 7.92%. The firm had revenue of $438.27 million during the quarter, compared to analysts’ expectations of $360.89 million. During the same quarter in the previous year, the company earned $0.22 earnings per share. The business’s revenue for the quarter was up 32.1% on a year-over-year basis. Equities research analysts expect that CAVA Group, Inc. will post 0.55 earnings per share for the current year.

About CAVA Group

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.