Lord Abbett & CO. LLC Raises Stock Holdings in CAVA Group, Inc. (NYSE:CAVA)

Lord Abbett & CO. LLC raised its position in shares of CAVA Group, Inc. (NYSE:CAVA) by 1.5% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,358,250 shares of the company’s stock after buying an additional 19,493 shares during the period. Lord Abbett & CO. LLC owned about 1.19% of CAVA Group worth $168,219,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Nemes Rush Group LLC purchased a new stake in shares of CAVA Group during the second quarter worth about $28,000. Mark Sheptoff Financial Planning LLC bought a new position in CAVA Group during the 2nd quarter valued at approximately $36,000. Headlands Technologies LLC purchased a new stake in CAVA Group in the 2nd quarter worth approximately $37,000. GAMMA Investing LLC grew its position in shares of CAVA Group by 68.3% in the 3rd quarter. GAMMA Investing LLC now owns 308 shares of the company’s stock worth $38,000 after buying an additional 125 shares during the last quarter. Finally, Sunbelt Securities Inc. purchased a new position in shares of CAVA Group during the third quarter valued at approximately $50,000. Institutional investors own 73.15% of the company’s stock.

Insider Transactions at CAVA Group

In other news, Director Ronald M. Shaich sold 622,549 shares of the firm’s stock in a transaction dated Monday, December 9th. The shares were sold at an average price of $149.40, for a total transaction of $93,008,820.60. Following the sale, the director now owns 6,307 shares of the company’s stock, valued at $942,265.80. This trade represents a 99.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Karen Kochevar sold 15,000 shares of CAVA Group stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $140.00, for a total transaction of $2,100,000.00. Following the completion of the sale, the director now owns 1,307 shares of the company’s stock, valued at $182,980. This represents a 91.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 652,549 shares of company stock worth $97,242,271. Corporate insiders own 12.10% of the company’s stock.

CAVA Group Trading Down 1.1 %

Shares of NYSE:CAVA opened at $123.99 on Friday. CAVA Group, Inc. has a 12-month low of $39.05 and a 12-month high of $172.43. The stock has a market capitalization of $14.21 billion, a price-to-earnings ratio of 269.54 and a beta of 2.93. The stock has a fifty day simple moving average of $137.67 and a two-hundred day simple moving average of $112.99.

CAVA Group (NYSE:CAVA) last posted its quarterly earnings results 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. CAVA Group had a return on equity of 9.10% and a net margin of 5.88%. The firm had revenue of $243.82 million during the quarter, compared to analyst estimates of $233.05 million. During the same quarter in the previous year, the firm earned $0.06 EPS. CAVA Group’s quarterly revenue was up 38.9% compared to the same quarter last year. As a group, equities research analysts predict that CAVA Group, Inc. will post 0.5 EPS for the current year.

Analyst Upgrades and Downgrades

CAVA has been the subject of a number of research analyst reports. JPMorgan Chase & Co. raised their price target on CAVA Group from $90.00 to $110.00 and gave the stock a “neutral” rating in a research note on Wednesday, November 13th. Sanford C. Bernstein started coverage on shares of CAVA Group in a research report on Wednesday, November 20th. They issued a “market perform” rating and a $145.00 target price for the company. Barclays boosted their price target on shares of CAVA Group from $113.00 to $142.00 and gave the company an “equal weight” rating in a research report on Wednesday, November 13th. TD Securities increased their price target on shares of CAVA Group from $115.00 to $130.00 and gave the stock a “buy” rating in a research note on Tuesday, September 24th. Finally, Loop Capital lifted their price objective on CAVA Group from $122.00 to $147.00 and gave the company a “hold” rating in a research report on Thursday, November 14th. Eight research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, CAVA Group presently has a consensus rating of “Moderate Buy” and an average price target of $143.80.

CAVA Group Company 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.