Principal Financial Group Inc. Has $12.11 Million Stake in CAVA Group, Inc. (NYSE:CAVA)

Principal Financial Group Inc. reduced its stake in CAVA Group, Inc. (NYSE:CAVA) by 18.0% in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 97,750 shares of the company’s stock after selling 21,389 shares during the quarter. Principal Financial Group Inc.’s holdings in CAVA Group were worth $12,106,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the stock. Jamison Private Wealth Management Inc. acquired a new stake in shares of CAVA Group in the second quarter valued at about $28,000. Nemes Rush Group LLC bought a new stake in CAVA Group during the 2nd quarter valued at approximately $28,000. GAMMA Investing LLC grew its holdings in CAVA Group by 68.3% in the 3rd quarter. GAMMA Investing LLC now owns 308 shares of the company’s stock valued at $38,000 after buying an additional 125 shares during the last quarter. Mark Sheptoff Financial Planning LLC bought a new position in CAVA Group in the 2nd quarter worth approximately $36,000. Finally, Headlands Technologies LLC acquired a new position in shares of CAVA Group during the second quarter worth approximately $37,000. Institutional investors own 73.15% of the company’s stock.

CAVA Group Price Performance

Shares of CAVA stock opened at $141.38 on Monday. The stock’s fifty day simple moving average is $131.69 and its 200 day simple moving average is $104.46. CAVA Group, Inc. has a one year low of $31.47 and a one year high of $172.43. The firm has a market cap of $16.20 billion, a price-to-earnings ratio of 307.35 and a beta of 3.23.

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

Wall Street Analysts Forecast Growth

CAVA has been the topic of several research analyst reports. JPMorgan Chase & Co. raised their price objective on shares of CAVA Group from $90.00 to $110.00 and gave the stock a “neutral” rating in a research note on Wednesday, November 13th. Jefferies Financial Group increased their price target on shares of CAVA Group from $94.00 to $117.00 and gave the company a “buy” rating in a report on Friday, August 23rd. Robert W. Baird boosted their price objective on shares of CAVA Group from $125.00 to $148.00 and gave the stock an “outperform” rating in a report on Monday, November 4th. Citigroup increased their target price on shares of CAVA Group from $140.00 to $163.00 and gave the company a “neutral” rating in a research note on Wednesday, November 13th. Finally, Stifel Nicolaus lifted their target price on CAVA Group from $118.00 to $175.00 and gave the stock a “buy” rating in a research report on Wednesday, November 13th. Seven research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat, CAVA Group currently has an average rating of “Moderate Buy” and a consensus target price of $143.71.

Insider Activity at CAVA Group

In other news, Director Theodoros Xenohristos sold 98,490 shares of the stock in a transaction on Monday, August 26th. The stock was sold at an average price of $125.77, for a total transaction of $12,387,087.30. Following the sale, the director now owns 424,846 shares in the company, valued at approximately $53,432,881.42. This represents a 18.82 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Tricia K. Tolivar sold 5,000 shares of CAVA Group stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $125.64, for a total value of $628,200.00. Following the completion of the transaction, the chief financial officer now directly owns 292,600 shares of the company’s stock, valued at $36,762,264. This represents a 1.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 304,994 shares of company stock valued at $38,310,084 in the last ninety days. Insiders own 12.10% of the company’s stock.

CAVA Group Company 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.