Capital Research & Management Co has recently announced that it has increased stake in Cava Group Inc (NYSE:CAVA) by 166.27%. After grabbing 3.33 million shares, the institutional investor is now in possession of 2.08 million shares of the Consumer Cyclical Company. The new investment brought the stake of investor firm to 2.93% having worth around $113.2 million. Moreover, The Vanguard Group, Inc. increased its share by 0.19 million to have a control over 1.45 million shares. And AllianceBernstein LP raised its holdings to 0.57 million shares by acquiring 1.31 million shares or 1.15% of the stake.
Cava Group Inc (CAVA) concluded trading on 12/21/23 at a closing price of $42.76, with 3.25 million shares of worth about $138.94 million changed hands on the day. Half year performance of the stock remained positive as price took a surge of 6.50% during that period and on Thursday the price saw a gain of about 4.04%. Currently the company’s common shares owned by public are about 111.39M shares, out of which, 81.94M shares are available for trading.
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According to filings with the U.S. Securities and Exchange Commission (SEC), insiders took part in trade of the company’s stock for 57 times over the past 12 months. They bought 56,798,665 shares in 48 of the transactions. In 9 selling transactions, insiders dumped 81,397 shares.
American Funds Small Cap World Fu, T Rowe Price New Horizons Fund, and T Rowe Price Small Cap Stock Fund are the top 3 mutual funds which are holding stakes in Cava Group Inc American Funds Small Cap World Fu is currently holding 4.58 million shares of worth totaling $155.71 million. The company recently came buying 2.08 million shares which brought its stake up to 4.03% of the company’s outstanding shares. T Rowe Price New Horizons Fund sold -1.0 million shares, after which its hold over company’s outstanding shares shrunk to 3.37%, leaving 3.83 million shares with the mutual fund that have a worth of about $130.1 million. T Rowe Price Small Cap Stock Fund, after buying 3.2 million shares, have now control over 2.81% of the stake in the company. It holds 0.0 shares of worth $108.73 million.
Cava Group Inc (NYSE: CAVA) started trading at $42.35, above $1.25 from concluding price of the previous day. However, the stock later moved at a day high price of 43.38, or with a gain of 4.04%. Stock saw a price change of 5.27% in past 5 days and over the past one month there was a price change of 27.99%. Over the period of past 52 weeks, stock dropped to lowest price of $29.05 but also hit the highest price of $58.10 during that period. The average intraday trading volume for Cava Group Inc shares is 1.87 million. The stock is currently trading 17.15% above its 20-day simple moving average (SMA20), while that difference is up 24.45% for SMA50 and it goes to 9.02% higher than SMA200.
Capital Research & Management Co acquired 3.33 million shares of Cava Group Inc having value of about $113.2 million. Data submitted at the U.S SEC by Capital Research & Management Co revealed that the firm now holds 2.08 million shares in the company valued at close to $88872384.0, or have control over 166.27% stake in the company. Cava Group Inc (NYSE: CAVA) currently have 111.39M outstanding shares and institutions hold larger chunk of about 60.98% of that. Holding of mutual funds in the company is about 22.96% while other institutional holders and individual stake holders have control over 38.00% and 2.82% of the stake respectively.
The stock has a current market capitalization of $4.86B. It has posted earnings per share of -$0.07 in the same period. It has Quick Ratio of 3.17 while making debt-to-equity ratio of 0.61. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for CAVA, volatility over the week remained 5.61% while standing at 6.48% over the month.
Analysts are in expectations that Cava Group Inc (CAVA) stock would likely to be making an EPS of $0 in the current quarter, while forecast for next quarter EPS is $0 and it is $0.14 for next year. For the current quarter EPS, analysts have given the company a lowest target -$0.04 which is $0.03 at the higher side of the target for the same.
Analysts at 13 brokerage firms have issued recommendations for the Cava Group Inc (CAVA)’s stock and average of those rates the stock at a “Strong Buy” and assign it a score of 1.62. Out of those 13 Wall Street analysts, 8 recommended a “Buy” rating, while 3 were in favor recommending the stock as a “Hold” and 0 analyst recommended the stock as “Sell”.
Digging deeper we find that several firms have released their research notes about the support levels of the stock. Most recent of them is a note released by Wedbush on December 21, 2023 offering an Outperform rating for the stock and assigned a target price range of between $35 and $48 to it.
