State of New Jersey Common Pension Fund D Has $2.71 Million Stock Holdings in CAVA Group, Inc. (NYSE:CAVA)

State of New Jersey Common Pension Fund D grew its stake in CAVA Group, Inc. (NYSE:CAVA) by 3.6% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 21,862 shares of the company’s stock after purchasing an additional 766 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in CAVA Group were worth $2,708,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in CAVA. Legacy Capital Wealth Partners LLC boosted its holdings in CAVA Group by 71.8% during the third quarter. Legacy Capital Wealth Partners LLC now owns 7,946 shares of the company’s stock worth $984,000 after buying an additional 3,321 shares during the last quarter. Covestor Ltd boosted its stake in CAVA Group by 914.0% during the 3rd quarter. Covestor Ltd now owns 2,170 shares of the company’s stock worth $269,000 after acquiring an additional 1,956 shares during the last quarter. SpiderRock Advisors LLC grew its holdings in CAVA Group by 8.9% during the third quarter. SpiderRock Advisors LLC now owns 479,319 shares of the company’s stock valued at $59,364,000 after purchasing an additional 39,319 shares during the period. Dudley Capital Management LLC bought a new stake in CAVA Group in the third quarter valued at approximately $245,000. Finally, Mainstream Capital Management LLC acquired a new stake in CAVA Group in the third quarter worth $2,183,000. 73.15% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, CEO Brett Schulman sold 201,504 shares of CAVA Group stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $125.53, for a total transaction of $25,294,797.12. Following the completion of the transaction, the chief executive officer now owns 702,590 shares in the company, valued at approximately $88,196,122.70. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other CAVA Group news, CEO Brett Schulman sold 201,504 shares of CAVA Group stock in a transaction on Monday, August 26th. The shares were sold at an average price of $125.53, for a total transaction of $25,294,797.12. Following the completion of the transaction, the chief executive officer now directly owns 702,590 shares of the company’s stock, valued at $88,196,122.70. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Tricia K. Tolivar sold 5,000 shares of the company’s stock in a transaction on Monday, August 26th. The shares were sold at an average price of $125.64, for a total transaction of $628,200.00. Following the completion of the transaction, the chief financial officer now owns 292,600 shares in the company, valued at approximately $36,762,264. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 304,994 shares of company stock valued at $38,310,084. 12.10% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of research firms recently commented on CAVA. Stifel Nicolaus upped their price objective on shares of CAVA Group from $118.00 to $175.00 and gave the company a “buy” rating in a research report on Wednesday. Wedbush lifted their price objective on CAVA Group from $155.00 to $190.00 and gave the company an “outperform” rating in a report on Wednesday. Jefferies Financial Group increased their target price on CAVA Group from $94.00 to $117.00 and gave the stock a “buy” rating in a research note on Friday, August 23rd. TD Cowen lifted their price target on shares of CAVA Group from $130.00 to $150.00 and gave the company a “buy” rating in a research note on Wednesday. Finally, TD Securities increased their price objective on shares of CAVA Group from $115.00 to $130.00 and gave the stock a “buy” rating in a research report on Tuesday, September 24th. Eight equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $136.57.

CAVA Group Stock Up 1.6 %

NYSE:CAVA opened at $147.31 on Thursday. CAVA Group, Inc. has a twelve month low of $31.41 and a twelve month high of $172.43. The firm has a market capitalization of $16.84 billion, a price-to-earnings ratio of 320.24 and a beta of 3.23. The stock’s 50 day moving average price is $130.75 and its two-hundred day moving average price is $103.50.

CAVA Group (NYSE:CAVA) last issued its earnings results on Tuesday, November 12th. The company reported $0.15 earnings per share for the quarter, topping analysts’ consensus estimates of $0.11 by $0.04. The business had revenue of $243.82 million for the quarter, compared to the consensus estimate of $233.05 million. CAVA Group had a net margin of 5.88% and a return on equity of 9.23%. The firm’s revenue for the quarter was up 38.9% on a year-over-year basis. During the same period in the previous year, the company earned $0.06 earnings per share. As a group, analysts anticipate that CAVA Group, Inc. will post 0.44 earnings per share for the current year.

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.