LRI Investments LLC Sells 541 Shares of CAVA Group, Inc. $CAVA

LRI Investments LLC decreased its holdings in shares of CAVA Group, Inc. (NYSE:CAVA) by 51.4% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 512 shares of the company’s stock after selling 541 shares during the quarter. LRI Investments LLC’s holdings in CAVA Group were worth $43,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also bought and sold shares of the company. PNC Financial Services Group Inc. raised its holdings in CAVA Group by 123.4% during the 1st quarter. PNC Financial Services Group Inc. now owns 5,458 shares of the company’s stock valued at $472,000 after acquiring an additional 3,015 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in shares of CAVA Group by 5.1% in the first quarter. Charles Schwab Investment Management Inc. now owns 554,934 shares of the company’s stock worth $47,952,000 after purchasing an additional 27,066 shares during the period. Lewis Asset Management LLC bought a new position in shares of CAVA Group in the second quarter worth $504,000. Diversified Trust Co increased its holdings in shares of CAVA Group by 106.9% in the second quarter. Diversified Trust Co now owns 7,742 shares of the company’s stock worth $652,000 after purchasing an additional 4,000 shares during the period. Finally, Crossmark Global Holdings Inc. bought a new position in shares of CAVA Group in the first quarter worth $257,000. Institutional investors own 73.15% of the company’s stock.

CAVA Group Stock Up 1.9%

CAVA opened at $63.30 on Tuesday. The stock has a market cap of $7.34 billion, a PE ratio of 53.20, a P/E/G ratio of 3.14 and a beta of 2.50. CAVA Group, Inc. has a 52 week low of $58.33 and a 52 week high of $172.43. The business’s fifty day simple moving average is $67.62 and its 200 day simple moving average is $79.48.

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

Analysts Set New Price Targets

Several research firms have recently weighed in on CAVA. Barclays decreased their price target on shares of CAVA Group from $91.00 to $74.00 and set an “equal weight” rating on the stock in a report on Wednesday, August 13th. Morgan Stanley decreased their price target on shares of CAVA Group from $107.00 to $97.00 and set an “equal weight” rating on the stock in a report on Wednesday, August 13th. Argus set a $76.00 price target on shares of CAVA Group in a report on Tuesday, September 2nd. Weiss Ratings reaffirmed a “hold (c)” rating on shares of CAVA Group in a report on Wednesday, October 8th. Finally, Cfra Research raised shares of CAVA Group to a “strong-buy” rating in a report on Thursday, August 14th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and eight have issued a Hold rating to the company. According to MarketBeat.com, CAVA Group has a consensus rating of “Moderate Buy” and a consensus target price of $95.50.

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.