Joule Financial LLC Takes $850,000 Position in CAVA Group, Inc. $CAVA

Joule Financial LLC acquired a new position in shares of CAVA Group, Inc. (NYSE:CAVA) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 10,096 shares of the company’s stock, valued at approximately $850,000.

A number of other institutional investors also recently bought and sold shares of CAVA. GAMMA Investing LLC grew its stake in shares of CAVA Group by 17,386.7% in the 1st quarter. GAMMA Investing LLC now owns 73,794 shares of the company’s stock valued at $6,377,000 after buying an additional 73,372 shares during the period. PNC Financial Services Group Inc. grew its position in CAVA Group by 123.4% in the first quarter. PNC Financial Services Group Inc. now owns 5,458 shares of the company’s stock worth $472,000 after acquiring an additional 3,015 shares during the period. Charles Schwab Investment Management Inc. increased its stake in CAVA Group by 5.1% during the first quarter. Charles Schwab Investment Management Inc. now owns 554,934 shares of the company’s stock worth $47,952,000 after acquiring an additional 27,066 shares during the last quarter. Lewis Asset Management LLC purchased a new stake in CAVA Group in the second quarter valued at $504,000. Finally, SG Americas Securities LLC lifted its stake in shares of CAVA Group by 768.4% in the 1st quarter. SG Americas Securities LLC now owns 220,816 shares of the company’s stock valued at $19,081,000 after purchasing an additional 195,389 shares during the last quarter. 73.15% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on CAVA shares. Robert W. Baird set a $95.00 price objective on CAVA Group in a research report on Wednesday, August 13th. Piper Sandler dropped their price target on shares of CAVA Group from $122.00 to $100.00 and set an “overweight” rating for the company in a research report on Wednesday, August 13th. JPMorgan Chase & Co. reduced their price target on shares of CAVA Group from $115.00 to $95.00 and set an “overweight” rating on the stock in a research note on Wednesday, June 25th. Morgan Stanley lowered their price objective on shares of CAVA Group from $107.00 to $97.00 and set an “equal weight” rating for the company in a research report on Wednesday, August 13th. Finally, Wall Street Zen downgraded shares of CAVA Group from a “hold” rating to a “sell” rating in a report on Friday, June 27th. One analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and eight have assigned a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $96.41.

CAVA Group Stock Performance

NYSE CAVA opened at $63.49 on Monday. The firm has a market cap of $7.36 billion, a price-to-earnings ratio of 53.36, a PEG ratio of 3.18 and a beta of 2.50. The firm has a 50 day simple moving average of $70.52 and a 200-day simple moving average of $80.50. CAVA Group, Inc. has a one year low of $58.33 and a one year high of $172.43.

CAVA Group (NYSE:CAVA) last announced its earnings results on Tuesday, August 12th. The company reported $0.16 earnings per share for the quarter, topping the consensus estimate of $0.13 by $0.03. CAVA Group had a net margin of 12.98% and a return on equity of 9.83%. The firm had revenue of $280.62 million for the quarter, compared to the consensus estimate of $285.65 million. During the same period in the prior year, the firm earned $0.17 EPS. The firm’s revenue for the quarter was up 20.2% on a year-over-year basis. Equities analysts predict that CAVA Group, Inc. will post 0.5 EPS for the current fiscal 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.