State of New Jersey Common Pension Fund D Boosts Stock Position in CAVA Group, Inc. (NYSE:CAVA)

State of New Jersey Common Pension Fund D grew its holdings in shares of CAVA Group, Inc. (NYSE:CAVA) by 36.8% in the 4th quarter, HoldingsChannel reports. The firm owned 29,897 shares of the company’s stock after acquiring an additional 8,035 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in CAVA Group were worth $3,372,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently made changes to their positions in the company. Allworth Financial LP grew its position in CAVA Group by 369.2% during the fourth quarter. Allworth Financial LP now owns 244 shares of the company’s stock valued at $30,000 after buying an additional 192 shares during the period. Golden State Wealth Management LLC purchased a new position in CAVA Group in the fourth quarter valued at about $47,000. GAMMA Investing LLC grew its position in shares of CAVA Group by 37.0% during the 4th quarter. GAMMA Investing LLC now owns 422 shares of the company’s stock valued at $48,000 after acquiring an additional 114 shares during the period. R Squared Ltd purchased a new stake in shares of CAVA Group during the 4th quarter worth approximately $49,000. Finally, Principal Securities Inc. raised its holdings in shares of CAVA Group by 263.3% in the 4th quarter. Principal Securities Inc. now owns 436 shares of the company’s stock worth $49,000 after purchasing an additional 316 shares during the period. 73.15% of the stock is currently owned by institutional investors.

Insider Buying and Selling at CAVA Group

In related 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 transaction of $93,008,820.60. Following the transaction, the director now owns 6,307 shares in the company, valued at $942,265.80. The trade was a 99.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Kenneth Robert Bertram sold 678 shares of the stock in a transaction dated Monday, January 27th. The stock was sold at an average price of $124.39, for a total transaction of $84,336.42. Following the completion of the transaction, the insider now directly owns 57,312 shares of the company’s stock, valued at approximately $7,129,039.68. The trade was a 1.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 651,784 shares of company stock valued at $96,522,922 in the last 90 days. Insiders own 12.10% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on CAVA shares. JPMorgan Chase & Co. increased their price objective on CAVA Group from $90.00 to $110.00 and gave the company a “neutral” rating in a report on Wednesday, November 13th. William Blair reaffirmed an “outperform” rating on shares of CAVA Group in a report on Wednesday, November 13th. Morgan Stanley upped their price target on shares of CAVA Group from $123.00 to $135.00 and gave the stock an “equal weight” rating in a report on Thursday, November 14th. Citigroup boosted their price objective on CAVA Group from $140.00 to $163.00 and gave the stock a “neutral” rating in a report on Wednesday, November 13th. Finally, TD Cowen lifted their target price on shares of CAVA Group from $130.00 to $150.00 and gave the company a “buy” rating in a research report on Wednesday, November 13th. Eight equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, CAVA Group has a consensus rating of “Moderate Buy” and a consensus target price of $142.13.

CAVA Group Trading Down 10.5 %

Shares of NYSE:CAVA opened at $119.34 on Thursday. The company has a 50-day moving average price of $123.51 and a 200-day moving average price of $125.01. The company has a market cap of $13.67 billion, a price-to-earnings ratio of 259.43 and a beta of 3.25. CAVA Group, Inc. has a 12 month low of $48.10 and a 12 month high of $172.43.

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.