Jennison Associates LLC Purchases 2,455,035 Shares of CAVA Group, Inc. (NYSE:CAVA)

Jennison Associates LLC lifted its position in shares of CAVA Group, Inc. (NYSE:CAVA) by 36,658.7% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 2,461,732 shares of the company’s stock after purchasing an additional 2,455,035 shares during the quarter. Jennison Associates LLC’s holdings in CAVA Group were worth $277,683,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Nwam LLC boosted its position in shares of CAVA Group by 2.6% during the 3rd quarter. Nwam LLC now owns 3,368 shares of the company’s stock valued at $417,000 after purchasing an additional 85 shares in the last quarter. Howard Financial Services LTD. lifted its stake in CAVA Group by 1.8% in the fourth quarter. Howard Financial Services LTD. now owns 6,194 shares of the company’s stock valued at $699,000 after buying an additional 109 shares during the period. CIBC Asset Management Inc boosted its holdings in shares of CAVA Group by 3.5% during the 3rd quarter. CIBC Asset Management Inc now owns 3,287 shares of the company’s stock worth $407,000 after buying an additional 110 shares in the last quarter. Farther Finance Advisors LLC boosted its holdings in shares of CAVA Group by 6.3% during the 3rd quarter. Farther Finance Advisors LLC now owns 1,916 shares of the company’s stock worth $237,000 after buying an additional 113 shares in the last quarter. Finally, GAMMA Investing LLC grew its position in shares of CAVA Group by 37.0% during the 4th quarter. GAMMA Investing LLC now owns 422 shares of the company’s stock worth $48,000 after buying an additional 114 shares during the period. Institutional investors own 73.15% of the company’s stock.

Wall Street Analysts Forecast Growth

CAVA has been the topic of a number of research reports. Citigroup boosted their target price on shares of CAVA Group from $140.00 to $163.00 and gave the company a “neutral” rating in a research report on Wednesday, November 13th. Loop Capital upped their price objective on shares of CAVA Group from $122.00 to $147.00 and gave the company a “hold” rating in a report on Thursday, November 14th. Stifel Nicolaus raised their target price on CAVA Group from $118.00 to $175.00 and gave the company a “buy” rating in a research note on Wednesday, November 13th. UBS Group dropped their price target on CAVA Group from $160.00 to $125.00 and set a “neutral” rating on the stock in a research note on Tuesday, January 7th. Finally, Robert W. Baird raised their price objective on CAVA Group from $125.00 to $148.00 and gave the company an “outperform” rating in a research note on Monday, November 4th. Eight equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat, CAVA Group currently has a consensus rating of “Moderate Buy” and an average target price of $142.13.

Insider Transactions at CAVA Group

In related news, CAO Adam David Phillips sold 615 shares of the business’s stock in a transaction dated Monday, January 27th. The stock was sold at an average price of $124.39, for a total value of $76,499.85. Following the sale, the chief accounting officer now directly owns 10,884 shares in the company, valued at approximately $1,353,860.76. The trade was a 5.35 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Brett Schulman sold 20,564 shares of the company’s stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $119.18, for a total transaction of $2,450,817.52. Following the sale, the chief executive officer now directly owns 776,369 shares in the company, valued at approximately $92,527,657.42. This trade represents a 2.58 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 681,784 shares of company stock worth $100,756,372 in the last quarter. Insiders own 12.10% of the company’s stock.

CAVA Group Stock Down 2.9 %

CAVA stock opened at $134.92 on Monday. CAVA Group, Inc. has a 12-month low of $46.56 and a 12-month high of $172.43. The firm has a market cap of $15.46 billion, a PE ratio of 293.31 and a beta of 3.25. The business has a 50 day moving average of $125.06 and a 200-day moving average of $120.41.

CAVA Group (NYSE:CAVA) last posted its quarterly earnings results on Tuesday, November 12th. The company reported $0.15 earnings per share for the quarter, beating the consensus estimate of $0.11 by $0.04. The company had revenue of $243.82 million during the quarter, compared to analyst estimates of $233.05 million. CAVA Group had a net margin of 5.88% and a return on equity of 9.10%. The firm’s revenue for the quarter was up 38.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.06 earnings per share. On average, research analysts expect that CAVA Group, Inc. will post 0.5 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.