Federated Hermes Inc. Raises Holdings in CAVA Group, Inc. (NYSE:CAVA)

Federated Hermes Inc. increased its position in CAVA Group, Inc. (NYSE:CAVA) by 33.0% in the 4th quarter, Holdings Channel reports. The firm owned 1,464,987 shares of the company’s stock after buying an additional 363,814 shares during the period. Federated Hermes Inc.’s holdings in CAVA Group were worth $165,243,000 as of its most recent filing with the SEC.

A number of other large investors have also recently made changes to their positions in the company. Arcadia Investment Management Corp MI purchased a new stake in CAVA Group in the fourth quarter valued at approximately $25,000. Allworth Financial LP increased its holdings in shares of CAVA Group by 369.2% in the 4th quarter. Allworth Financial LP now owns 244 shares of the company’s stock valued at $30,000 after acquiring an additional 192 shares during the period. Larson Financial Group LLC increased its holdings in shares of CAVA Group by 274.0% in the 4th quarter. Larson Financial Group LLC now owns 273 shares of the company’s stock valued at $31,000 after acquiring an additional 200 shares during the period. Whittier Trust Co. boosted its stake in CAVA Group by 80.9% during the 4th quarter. Whittier Trust Co. now owns 284 shares of the company’s stock worth $32,000 after purchasing an additional 127 shares during the period. Finally, Signaturefd LLC grew its position in CAVA Group by 884.4% during the 4th quarter. Signaturefd LLC now owns 315 shares of the company’s stock worth $36,000 after purchasing an additional 283 shares during the last quarter. 73.15% of the stock is owned by institutional investors and hedge funds.

CAVA Group Trading Down 10.5 %

Shares of CAVA opened at $75.30 on Friday. CAVA Group, Inc. has a twelve month low of $58.22 and a twelve month high of $172.43. The firm has a market capitalization of $8.70 billion, a P/E ratio of 163.70 and a beta of 3.33. The firm’s 50-day moving average is $104.28 and its two-hundred day moving average is $120.60.

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

Analysts Set New Price Targets

A number of brokerages have recently commented on CAVA. Wedbush reiterated an “outperform” rating and set a $150.00 target price on shares of CAVA Group in a research note on Wednesday, February 26th. Bank of America assumed coverage on CAVA Group in a research note on Monday, March 31st. They issued a “buy” rating and a $112.00 target price on the stock. William Blair restated an “outperform” rating on shares of CAVA Group in a research note on Wednesday, February 26th. Barclays lowered their price objective on shares of CAVA Group from $127.00 to $104.00 and set an “equal weight” rating on the stock in a research report on Wednesday, February 26th. Finally, Piper Sandler upgraded shares of CAVA Group from a “neutral” rating to an “overweight” rating and cut their price objective for the stock from $142.00 to $115.00 in a research report on Friday, February 28th. Six equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $130.25.

Insider Activity

In related news, CEO Brett Schulman sold 20,564 shares of the company’s stock in a transaction that occurred on 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 owns 776,369 shares of the company’s stock, valued at approximately $92,527,657.42. This represents a 2.58 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Theodoros Xenohristos sold 851 shares of the firm’s stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $119.18, for a total value of $101,422.18. Following the transaction, the insider now directly owns 358,995 shares of the company’s stock, valued at $42,785,024.10. The trade was a 0.24 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 29,235 shares of company stock worth $3,514,101 over the last 90 days. 12.10% of the stock is currently owned by corporate insiders.

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.