Neuberger Berman Group LLC Boosts Position in CAVA Group, Inc. $CAVA

Neuberger Berman Group LLC grew its holdings in CAVA Group, Inc. (NYSE:CAVA) by 6,784.0% during the 2nd quarter, according to 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 period. Neuberger Berman Group LLC owned about 0.28% of CAVA Group worth $27,044,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in CAVA. Price T Rowe Associates Inc. MD boosted its holdings in CAVA Group by 114.4% in the first quarter. Price T Rowe Associates Inc. MD now owns 2,394,561 shares of the company’s stock valued at $206,915,000 after purchasing an additional 1,277,912 shares during the last quarter. Vanguard Group Inc. boosted its position in CAVA Group by 13.2% during the first quarter. Vanguard Group Inc. now owns 9,065,782 shares of the company’s stock worth $783,374,000 after purchasing an additional 1,054,180 shares in the last quarter. Nuveen LLC acquired a new stake in CAVA Group in the first quarter valued at approximately $72,800,000. Alliancebernstein L.P. lifted its position in shares of CAVA Group by 2,072.1% during the 1st quarter. Alliancebernstein L.P. now owns 852,691 shares of the company’s stock valued at $73,681,000 after buying an additional 813,434 shares in the last quarter. Finally, Congress Asset Management Co. lifted its position in CAVA Group by 30,593.6% during the second quarter. Congress Asset Management Co. now owns 751,994 shares of the company’s stock worth $63,340,000 after buying an additional 749,544 shares in the last quarter. Hedge funds and other institutional investors own 73.15% of the company’s stock.

CAVA Group Trading Down 1.3%

CAVA Group stock opened at $49.01 on Friday. The firm has a market capitalization of $5.68 billion, a P/E ratio of 42.25, a P/E/G ratio of 2.81 and a beta of 2.47. CAVA Group, Inc. has a twelve month low of $43.41 and a twelve month high of $153.34. The stock’s fifty day simple moving average is $56.81 and its 200-day simple moving average is $71.33.

CAVA Group (NYSE:CAVA) last issued its quarterly earnings results on Tuesday, November 4th. The company reported $0.12 earnings per share for the quarter, missing the consensus estimate of $0.13 by ($0.01). CAVA Group had a return on equity of 8.88% and a net margin of 12.14%.The company had revenue of $292.24 million for the quarter, compared to analysts’ expectations of $292.88 million. During the same quarter last year, the company earned $0.15 EPS. CAVA Group’s revenue for the quarter was up 19.9% compared to the same quarter last year. Sell-side analysts predict that CAVA Group, Inc. will post 0.5 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several analysts have issued reports on CAVA shares. Argus dropped their target price on CAVA Group from $76.00 to $60.00 and set a “buy” rating for the company in a report on Thursday, November 13th. KeyCorp dropped their price objective on shares of CAVA Group from $85.00 to $65.00 and set an “overweight” rating for the company in a report on Wednesday, November 5th. Cfra Research upgraded shares of CAVA Group to a “strong-buy” rating in a report on Thursday, August 14th. Citigroup reissued a “neutral” rating on shares of CAVA Group in a research report on Wednesday, November 12th. Finally, Stifel Nicolaus set a $75.00 target price on shares of CAVA Group in a research note on Wednesday, November 5th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and nine have given a Hold rating to the company’s stock. Based on data from MarketBeat, CAVA Group presently has an average rating of “Moderate Buy” and an average target price of $81.75.

Insider Activity at CAVA Group

In other news, insider Kenneth Robert Bertram sold 3,788 shares of the firm’s stock in a transaction dated Wednesday, November 26th. The stock was sold at an average price of $50.70, for a total transaction of $192,051.60. Following the sale, the insider owned 51,143 shares of the company’s stock, valued at approximately $2,592,950.10. This trade represents a 6.90% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 6.80% of the company’s stock.

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.