M&T Bank Corp Boosts Stake in CAVA Group, Inc. (NYSE:CAVA)

M&T Bank Corp boosted its stake in shares of CAVA Group, Inc. (NYSE:CAVA) by 75.2% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 6,320 shares of the company’s stock after purchasing an additional 2,712 shares during the period. M&T Bank Corp’s holdings in CAVA Group were worth $783,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of CAVA. SpiderRock Advisors LLC raised its position in shares of CAVA Group by 8.9% during the 3rd quarter. SpiderRock Advisors LLC now owns 479,319 shares of the company’s stock valued at $59,364,000 after purchasing an additional 39,319 shares during the period. Xponance Inc. raised its stake in CAVA Group by 95.2% during the 2nd quarter. Xponance Inc. now owns 9,846 shares of the company’s stock valued at $913,000 after purchasing an additional 4,803 shares during the period. Charles Schwab Investment Management Inc. raised its stake in CAVA Group by 262.8% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 516,092 shares of the company’s stock valued at $63,918,000 after purchasing an additional 373,835 shares during the period. PFG Investments LLC boosted its stake in CAVA Group by 36.8% in the 3rd quarter. PFG Investments LLC now owns 15,907 shares of the company’s stock worth $1,970,000 after purchasing an additional 4,275 shares during the period. Finally, Intech Investment Management LLC purchased a new stake in CAVA Group during the 2nd quarter valued at approximately $1,728,000. Institutional investors own 73.15% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. Loop Capital upped their target price on shares of CAVA Group from $122.00 to $147.00 and gave the stock a “hold” rating in a research report on Thursday, November 14th. TD Cowen increased their price objective on shares of CAVA Group from $130.00 to $150.00 and gave the company a “buy” rating in a report on Wednesday, November 13th. UBS Group started coverage on CAVA Group in a report on Friday, September 27th. They issued a “neutral” rating and a $135.00 target price on the stock. Robert W. Baird increased their price target on CAVA Group from $125.00 to $148.00 and gave the company an “outperform” rating in a research note on Monday, November 4th. Finally, Sanford C. Bernstein assumed coverage on CAVA Group in a research note on Wednesday, November 20th. They issued a “market perform” rating and a $145.00 price objective on the stock. Eight equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat, CAVA Group presently has an average rating of “Moderate Buy” and a consensus target price of $143.80.

Insider Activity at CAVA Group

In other CAVA Group news, Director Ronald M. Shaich sold 622,549 shares of the business’s stock in a transaction dated Monday, December 9th. The shares were sold at an average price of $149.40, for a total value of $93,008,820.60. Following the completion of the sale, the director now directly owns 6,307 shares of the company’s stock, valued at $942,265.80. The trade was a 99.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Karen Kochevar sold 15,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $142.23, for a total transaction of $2,133,450.00. Following the transaction, the director now directly 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 disclosure for this sale can be found here. Insiders sold a total of 652,549 shares of company stock worth $97,242,271 in the last quarter. 12.10% of the stock is owned by company insiders.

CAVA Group Trading Up 2.2 %

Shares of CAVA opened at $126.80 on Tuesday. CAVA Group, Inc. has a twelve month low of $39.05 and a twelve month high of $172.43. The company’s fifty day simple moving average is $137.67 and its 200-day simple moving average is $113.38. The company has a market cap of $14.53 billion, a P/E ratio of 275.65 and a beta of 2.93.

CAVA Group (NYSE:CAVA) last announced its quarterly earnings data on Tuesday, November 12th. The company reported $0.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.11 by $0.04. The business had revenue of $243.82 million during the quarter, compared to the consensus estimate of $233.05 million. CAVA Group had a net margin of 5.88% and a return on equity of 9.10%. The firm’s quarterly revenue was up 38.9% compared to the same quarter last year. During the same quarter last year, the firm earned $0.06 earnings per share. Analysts predict that CAVA Group, Inc. will post 0.5 earnings per share for the current fiscal 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.