Northern Trust Corp Buys 83,040 Shares of CAVA Group, Inc. (NYSE:CAVA)

Northern Trust Corp increased its position in shares of CAVA Group, Inc. (NYSE:CAVA) by 25.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 415,493 shares of the company’s stock after purchasing an additional 83,040 shares during the quarter. Northern Trust Corp’s holdings in CAVA Group were worth $46,868,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Charles Schwab Investment Management Inc. grew its position in CAVA Group by 2.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 527,868 shares of the company’s stock valued at $59,544,000 after acquiring an additional 11,776 shares during the last quarter. Entropy Technologies LP acquired a new stake in shares of CAVA Group in the 4th quarter valued at approximately $2,097,000. Empowered Funds LLC bought a new stake in shares of CAVA Group during the 4th quarter valued at approximately $5,007,000. Legacy Capital Wealth Partners LLC increased its position in CAVA Group by 71.9% during the 4th quarter. Legacy Capital Wealth Partners LLC now owns 13,658 shares of the company’s stock worth $1,541,000 after purchasing an additional 5,712 shares in the last quarter. Finally, Jennison Associates LLC lifted its stake in CAVA Group by 36,658.7% in the 4th quarter. Jennison Associates LLC now owns 2,461,732 shares of the company’s stock valued at $277,683,000 after purchasing an additional 2,455,035 shares during the last quarter. 73.15% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

CAVA has been the subject of several research analyst reports. Sanford C. Bernstein upgraded shares of CAVA Group from a “market perform” rating to an “outperform” rating and set a $115.00 price target for the company in a report on Wednesday, April 23rd. William Blair reaffirmed an “outperform” rating on shares of CAVA Group in a report on Wednesday, February 26th. Loop Capital cut their price target on CAVA Group from $147.00 to $100.00 and set a “hold” rating on the stock in a research note on Thursday, February 27th. Citigroup reduced their price target on CAVA Group from $163.00 to $140.00 and set a “neutral” rating on the stock in a report on Friday, February 21st. Finally, Piper Sandler upgraded shares of CAVA Group from a “neutral” rating to an “overweight” rating and dropped their price objective for the company from $142.00 to $115.00 in a report on Friday, February 28th. Five analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $124.19.

CAVA Group Stock Performance

Shares of CAVA opened at $96.07 on Friday. The firm has a market cap of $11.11 billion, a PE ratio of 208.85 and a beta of 3.28. CAVA Group, Inc. has a 52-week low of $70.00 and a 52-week high of $172.43. The business’s 50 day moving average price is $86.30 and its two-hundred day moving average price is $113.54.

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