Rakuten Securities Inc. Boosts Holdings in CAVA Group, Inc. (NYSE:CAVA)

Rakuten Securities Inc. raised its holdings in CAVA Group, Inc. (NYSE:CAVA) by 165.3% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 3,274 shares of the company’s stock after acquiring an additional 2,040 shares during the quarter. Rakuten Securities Inc.’s holdings in CAVA Group were worth $369,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in CAVA. Jennison Associates LLC raised its stake in shares of CAVA Group by 36,658.7% during the 4th quarter. Jennison Associates LLC now owns 2,461,732 shares of the company’s stock worth $277,683,000 after buying an additional 2,455,035 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of CAVA Group by 121.0% during the 3rd quarter. Geode Capital Management LLC now owns 1,222,834 shares of the company’s stock worth $151,492,000 after buying an additional 669,599 shares during the last quarter. Raymond James Financial Inc. acquired a new position in shares of CAVA Group during the 4th quarter worth $59,516,000. Charles Schwab Investment Management Inc. increased its position 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 worth $63,918,000 after purchasing an additional 373,835 shares in the last quarter. Finally, Two Sigma Advisers LP increased its position in CAVA Group by 17.0% during the 3rd quarter. Two Sigma Advisers LP now owns 2,210,900 shares of the company’s stock worth $273,820,000 after purchasing an additional 321,800 shares in the last quarter. Institutional investors and hedge funds own 73.15% of the company’s stock.

CAVA Group Stock Down 0.9 %

NYSE:CAVA opened at $79.69 on Wednesday. CAVA Group, Inc. has a 1-year low of $58.22 and a 1-year high of $172.43. The firm has a market capitalization of $9.21 billion, a price-to-earnings ratio of 173.24 and a beta of 3.58. The stock has a fifty day simple moving average of $116.27 and a 200 day simple moving average of $125.05.

CAVA Group (NYSE:CAVA) last released its quarterly earnings results on Tuesday, February 25th. The company reported $0.05 earnings per share for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.01). CAVA Group had a net margin of 5.88% and a return on equity of 9.10%. The company had revenue of $227.40 million during the quarter, compared to analyst estimates of $223.34 million. Equities analysts predict that CAVA Group, Inc. will post 0.5 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research firms have commented on CAVA. TD Securities lowered their price target on CAVA Group from $150.00 to $130.00 and set a “buy” rating for the company in a report on Wednesday, February 26th. Loop Capital cut their target price on CAVA Group from $147.00 to $100.00 and set a “hold” rating on the stock in a research report on Thursday, February 27th. UBS Group dropped their price target on CAVA Group from $160.00 to $125.00 and set a “neutral” rating on the stock in a research report on Tuesday, January 7th. William Blair reissued an “outperform” rating on shares of CAVA Group in a research report on Wednesday, February 26th. Finally, Piper Sandler upgraded CAVA Group from a “neutral” rating to an “overweight” rating and lowered their price objective for the stock from $142.00 to $115.00 in a research note on Friday, February 28th. Seven investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $131.47.

Insider Transactions at CAVA Group

In other news, CFO Tricia K. Tolivar sold 2,086 shares of the firm’s stock in a transaction dated Tuesday, January 21st. The stock was sold at an average price of $119.18, for a total transaction of $248,609.48. Following the completion of the sale, the chief financial officer now directly owns 235,592 shares of the company’s stock, valued at $28,077,854.56. This trade represents a 0.88 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Brett Schulman sold 20,564 shares of the firm’s stock in a transaction dated Tuesday, January 21st. The stock was sold at an average price of $119.18, for a total value of $2,450,817.52. Following the sale, the chief executive officer now directly owns 776,369 shares of the company’s stock, valued at $92,527,657.42. This trade represents a 2.58 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 29,235 shares of company stock valued at $3,514,101 in the last three months. Corporate insiders own 12.10% of the company’s stock.

CAVA Group 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.