State of New Jersey Common Pension Fund D Has $2.71 Million Position in CAVA Group, Inc. (NYSE:CAVA)

State of New Jersey Common Pension Fund D lifted its stake in CAVA Group, Inc. (NYSE:CAVA) by 3.6% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 21,862 shares of the company’s stock after acquiring an additional 766 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in CAVA Group were worth $2,708,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of CAVA. Capital Research Global Investors increased its stake in shares of CAVA Group by 21.6% during the 1st quarter. Capital Research Global Investors now owns 5,311,335 shares of the company’s stock worth $372,059,000 after purchasing an additional 942,054 shares during the last quarter. Vanguard Group Inc. raised its holdings in CAVA Group by 215.7% during the first quarter. Vanguard Group Inc. now owns 4,944,036 shares of the company’s stock valued at $346,330,000 after buying an additional 3,377,840 shares in the last quarter. Federated Hermes Inc. lifted its position in shares of CAVA Group by 9.7% in the second quarter. Federated Hermes Inc. now owns 1,060,029 shares of the company’s stock worth $98,318,000 after buying an additional 93,635 shares during the last quarter. Renaissance Technologies LLC boosted its stake in shares of CAVA Group by 102.5% during the 2nd quarter. Renaissance Technologies LLC now owns 892,400 shares of the company’s stock worth $82,770,000 after acquiring an additional 451,800 shares in the last quarter. Finally, Driehaus Capital Management LLC increased its holdings in shares of CAVA Group by 51.8% during the 2nd quarter. Driehaus Capital Management LLC now owns 732,603 shares of the company’s stock valued at $67,949,000 after acquiring an additional 250,110 shares during the last quarter. Institutional investors and hedge funds own 73.15% of the company’s stock.

Analysts Set New Price Targets

CAVA has been the topic of several recent analyst reports. Barclays lifted their target price on shares of CAVA Group from $113.00 to $142.00 and gave the stock an “equal weight” rating in a report on Wednesday. Jefferies Financial Group raised their target price on CAVA Group from $94.00 to $117.00 and gave the company a “buy” rating in a report on Friday, August 23rd. TD Cowen upped their price target on CAVA Group from $130.00 to $150.00 and gave the stock a “buy” rating in a report on Wednesday. Wedbush raised their price objective on shares of CAVA Group from $155.00 to $190.00 and gave the stock an “outperform” rating in a research note on Wednesday. Finally, Loop Capital upped their target price on shares of CAVA Group from $80.00 to $122.00 and gave the company a “hold” rating in a research note on Monday, August 26th. Eight research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $136.57.

Insider Buying and Selling at CAVA Group

In other news, CEO Brett Schulman sold 201,504 shares of the stock in a transaction on Monday, August 26th. The stock was sold at an average price of $125.53, for a total transaction of $25,294,797.12. Following the sale, the chief executive officer now owns 702,590 shares in the company, valued at approximately $88,196,122.70. This represents a 0.00 % 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. In other news, Director Theodoros Xenohristos sold 98,490 shares of CAVA Group stock in a transaction on Monday, August 26th. The stock was sold at an average price of $125.77, for a total value of $12,387,087.30. Following the completion of the sale, the director now directly owns 424,846 shares of the company’s stock, valued at approximately $53,432,881.42. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Brett Schulman sold 201,504 shares of the company’s stock in a transaction on Monday, August 26th. The shares were sold at an average price of $125.53, for a total value of $25,294,797.12. Following the transaction, the chief executive officer now directly owns 702,590 shares in the company, valued at $88,196,122.70. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 304,994 shares of company stock worth $38,310,084. 12.10% of the stock is currently owned by insiders.

CAVA Group Stock Performance

Shares of NYSE CAVA opened at $147.31 on Thursday. The business has a fifty day moving average of $130.75 and a two-hundred day moving average of $103.50. CAVA Group, Inc. has a 52-week low of $31.41 and a 52-week high of $172.43. The stock has a market cap of $16.84 billion, a PE ratio of 320.24 and a beta of 3.23.

CAVA Group (NYSE:CAVA) last issued its quarterly earnings data on Tuesday, November 12th. The company reported $0.15 earnings per share for the quarter, topping the consensus estimate of $0.11 by $0.04. CAVA Group had a net margin of 5.88% and a return on equity of 9.23%. The firm had revenue of $243.82 million for the quarter, compared to analysts’ expectations of $233.05 million. During the same period in the prior year, the firm earned $0.06 earnings per share. The company’s quarterly revenue was up 38.9% compared to the same quarter last year. Analysts predict that CAVA Group, Inc. will post 0.44 earnings per share for the current 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.