The Manufacturers Life Insurance Company Purchases 989 Shares of CAVA Group, Inc. (NYSE:CAVA)

The Manufacturers Life Insurance Company increased its holdings in shares of CAVA Group, Inc. (NYSE:CAVA) by 4.5% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 23,151 shares of the company’s stock after acquiring an additional 989 shares during the period. The Manufacturers Life Insurance Company’s holdings in CAVA Group were worth $2,611,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Charles Schwab Investment Management Inc. grew its stake in shares of CAVA Group by 2.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 527,868 shares of the company’s stock valued at $59,544,000 after purchasing an additional 11,776 shares during the last quarter. Entropy Technologies LP acquired a new stake in shares of CAVA Group in the 4th quarter valued at $2,097,000. Empowered Funds LLC bought a new stake in shares of CAVA Group during the fourth quarter worth $5,007,000. Legacy Capital Wealth Partners LLC lifted its stake in shares of CAVA Group by 71.9% during the fourth quarter. Legacy Capital Wealth Partners LLC now owns 13,658 shares of the company’s stock valued at $1,541,000 after acquiring an additional 5,712 shares during the period. Finally, Jennison Associates LLC boosted its holdings in CAVA Group by 36,658.7% in the fourth quarter. Jennison Associates LLC now owns 2,461,732 shares of the company’s stock valued at $277,683,000 after acquiring an additional 2,455,035 shares during the last quarter. 73.15% of the stock is owned by institutional investors and hedge funds.

CAVA Group Stock Performance

Shares of CAVA Group stock opened at $93.95 on Friday. CAVA Group, Inc. has a 52-week low of $70.00 and a 52-week high of $172.43. The business’s 50 day simple moving average is $86.46 and its 200 day simple moving average is $113.09. The firm has a market cap of $10.87 billion, a PE ratio of 204.24 and a beta of 3.28.

CAVA Group (NYSE:CAVA) last announced its earnings results on Tuesday, February 25th. The company reported $0.05 EPS for the quarter, missing the consensus estimate of $0.06 by ($0.01). CAVA Group had a return on equity of 9.10% and a net margin of 5.88%. The business had revenue of $227.40 million for the quarter, compared to analyst estimates of $223.34 million. As a group, equities research analysts predict that CAVA Group, Inc. will post 0.5 EPS for the current year.

Wall Street Analysts Forecast Growth

CAVA has been the subject of several recent research reports. William Blair reissued an “outperform” rating on shares of CAVA Group in a report on Wednesday, February 26th. Bank of America initiated coverage on shares of CAVA Group in a report on Monday, March 31st. They issued a “buy” rating and a $112.00 price objective on the stock. TD Securities lowered their target price on shares of CAVA Group from $130.00 to $120.00 and set a “buy” rating for the company in a report on Monday, April 21st. Citigroup cut their price target on CAVA Group from $163.00 to $140.00 and set a “neutral” rating on the stock in a research note on Friday, February 21st. Finally, Loop Capital decreased their price objective on CAVA Group from $147.00 to $100.00 and set a “hold” rating for the company in a research note on Thursday, February 27th. Five research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $124.19.

About CAVA Group

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.