Neuberger Berman Group LLC Has $27.04 Million Position in CAVA Group, Inc. $CAVA

Neuberger Berman Group LLC grew its stake in CAVA Group, Inc. (NYSE:CAVA) by 6,784.0% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 321,068 shares of the company’s stock after acquiring an additional 316,404 shares during the quarter. Neuberger Berman Group LLC’s holdings in CAVA Group were worth $27,044,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. State Street Corp increased its stake in CAVA Group by 5.0% in the second quarter. State Street Corp now owns 2,543,335 shares of the company’s stock valued at $214,225,000 after purchasing an additional 122,163 shares in the last quarter. Price T Rowe Associates Inc. MD grew its holdings in shares of CAVA Group by 114.4% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 2,394,561 shares of the company’s stock valued at $206,915,000 after buying an additional 1,277,912 shares during the period. Geode Capital Management LLC increased its position in shares of CAVA Group by 16.2% in the 2nd quarter. Geode Capital Management LLC now owns 1,622,898 shares of the company’s stock valued at $136,715,000 after buying an additional 226,785 shares in the last quarter. Alliancebernstein L.P. raised its stake in CAVA Group by 58.7% during the 2nd quarter. Alliancebernstein L.P. now owns 1,353,058 shares of the company’s stock worth $113,968,000 after buying an additional 500,367 shares during the period. Finally, Champlain Investment Partners LLC lifted its holdings in CAVA Group by 108.3% during the second quarter. Champlain Investment Partners LLC now owns 1,351,955 shares of the company’s stock worth $113,875,000 after acquiring an additional 703,020 shares in the last quarter. Institutional investors own 73.15% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on CAVA shares. UBS Group lowered their price target on CAVA Group from $75.00 to $61.00 and set a “neutral” rating for the company in a report on Monday, November 3rd. Sanford C. Bernstein lowered their target price on CAVA Group from $100.00 to $80.00 and set an “outperform” rating for the company in a research note on Wednesday, November 5th. Argus cut their price target on shares of CAVA Group from $76.00 to $60.00 and set a “buy” rating on the stock in a research note on Thursday, November 13th. Citigroup reiterated a “neutral” rating on shares of CAVA Group in a report on Wednesday, November 12th. Finally, Morgan Stanley set a $86.00 price objective on shares of CAVA Group in a research report on Wednesday, November 5th. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and nine have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $81.00.

CAVA Group Stock Up 1.1%

NYSE:CAVA opened at $53.21 on Friday. The company has a market cap of $6.17 billion, a P/E ratio of 45.87, a price-to-earnings-growth ratio of 3.01 and a beta of 2.51. CAVA Group, Inc. has a twelve month low of $43.41 and a twelve month high of $144.49. The business has a 50 day moving average price of $54.89 and a two-hundred day moving average price of $68.61.

CAVA Group (NYSE:CAVA) last posted its quarterly earnings data on Tuesday, November 4th. The company reported $0.12 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.01). The business had revenue of $292.24 million during the quarter, compared to analyst estimates of $292.88 million. CAVA Group had a net margin of 12.14% and a return on equity of 8.88%. CAVA Group’s revenue for the quarter was up 19.9% on a year-over-year basis. During the same quarter last year, the business earned $0.15 earnings per share. As a group, analysts anticipate that CAVA Group, Inc. will post 0.5 earnings per share for the current fiscal year.

Insider Transactions at CAVA Group

In other CAVA Group news, insider Kenneth Robert Bertram sold 3,788 shares of the business’s stock in a transaction dated Wednesday, November 26th. The shares were sold at an average price of $50.70, for a total transaction of $192,051.60. Following the sale, the insider directly owned 51,143 shares of the company’s stock, valued at $2,592,950.10. The trade was a 6.90% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Insiders own 6.80% of the company’s stock.

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.