Rockefeller Capital Management L.P. Has $959,000 Stock Holdings in CAVA Group, Inc. $CAVA

Rockefeller Capital Management L.P. increased its holdings in shares of CAVA Group, Inc. (NYSE:CAVA) by 350.9% in the fourth quarter, Holdings Channel.com reports. The firm owned 16,332 shares of the company’s stock after purchasing an additional 12,710 shares during the quarter. Rockefeller Capital Management L.P.’s holdings in CAVA Group were worth $959,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of CAVA. Bison Wealth LLC bought a new position in CAVA Group in the fourth quarter valued at approximately $208,000. Goldman Sachs Group Inc. increased its position in shares of CAVA Group by 14.3% during the first quarter. Goldman Sachs Group Inc. now owns 606,780 shares of the company’s stock worth $52,432,000 after acquiring an additional 75,828 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in shares of CAVA Group by 17.3% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 236,622 shares of the company’s stock worth $20,447,000 after acquiring an additional 34,860 shares during the period. Brown Advisory Inc. raised its holdings in shares of CAVA Group by 9.3% during the second quarter. Brown Advisory Inc. now owns 2,979 shares of the company’s stock worth $251,000 after acquiring an additional 253 shares during the period. Finally, Cresset Asset Management LLC lifted its position in CAVA Group by 20.3% in the 2nd quarter. Cresset Asset Management LLC now owns 9,165 shares of the company’s stock valued at $772,000 after acquiring an additional 1,549 shares in the last quarter. 73.15% of the stock is currently owned by institutional investors and hedge funds.

CAVA Group Trading Down 3.8%

NYSE CAVA opened at $76.74 on Friday. The firm has a market capitalization of $8.94 billion, a P/E ratio of 147.57, a price-to-earnings-growth ratio of 5.47 and a beta of 1.68. The firm’s fifty day moving average price is $82.43 and its two-hundred day moving average price is $76.16. CAVA Group, Inc. has a 1 year low of $43.41 and a 1 year high of $98.79.

CAVA Group (NYSE:CAVA) last announced its quarterly earnings data on Tuesday, May 19th. The company reported $0.20 EPS for the quarter, beating analysts’ consensus estimates of $0.17 by $0.03. The company had revenue of $438.27 million during the quarter, compared to the consensus estimate of $360.89 million. CAVA Group had a net margin of 4.79% and a return on equity of 7.92%. The company’s quarterly revenue was up 32.1% on a year-over-year basis. During the same quarter last year, the firm posted $0.22 EPS. On average, research analysts anticipate that CAVA Group, Inc. will post 0.55 EPS for the current fiscal year.

Insiders Place Their Bets

In other CAVA Group news, Director Karen Kochevar sold 10,000 shares of the business’s stock in a transaction that occurred on Thursday, June 18th. The stock was sold at an average price of $90.00, for a total transaction of $900,000.00. Following the transaction, the director owned 3,074 shares of the company’s stock, valued at $276,660. The trade was a 76.49% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Tricia K. Tolivar sold 4,969 shares of the company’s stock in a transaction that occurred on Monday, June 15th. The shares were sold at an average price of $89.43, for a total value of $444,377.67. Following the completion of the sale, the chief financial officer owned 234,931 shares in the company, valued at $21,009,879.33. This represents a 2.07% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 91,747 shares of company stock worth $7,970,838 in the last three months. Insiders own 6.70% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently weighed in on CAVA. Morgan Stanley upped their target price on shares of CAVA Group from $85.00 to $86.00 and gave the stock an “equal weight” rating in a research note on Wednesday, May 20th. Piper Sandler lifted their price target on CAVA Group from $85.00 to $92.00 and gave the company an “overweight” rating in a research note on Wednesday, May 20th. TD Cowen restated a “buy” rating and issued a $100.00 price target on shares of CAVA Group in a report on Thursday, June 4th. UBS Group upgraded CAVA Group from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $85.00 to $90.00 in a report on Wednesday, June 10th. Finally, Sanford C. Bernstein reissued an “outperform” rating and issued a $95.00 target price on shares of CAVA Group in a research report on Wednesday, May 20th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $93.44.

CAVA Group Company Profile

CAVA Group, Inc (NYSE: CAVA) is a leading fast-casual restaurant company specializing in Mediterranean-inspired cuisine. Operating under the CAVA brand, the company offers customizable bowls, pitas and salads built around a variety of proteins, grains, fresh vegetables and house-made spreads. With a focus on high-quality ingredients and made-to-order preparation, CAVA aims to deliver a casual yet elevated dining experience for dine-in, takeout and catering customers.

Founded in 2011 in the Washington, DC metro area by Ike Grigoropoulos, Dimitri Katsanis and Brett Schulman, CAVA has pursued an aggressive growth strategy that included the 2018 acquisition of Zoe’s Kitchen.