CAVA Group, Inc. $CAVA Shares Purchased by Sentry Investment Management LLC

Sentry Investment Management LLC raised its position in CAVA Group, Inc. (NYSE:CAVA) by 10.6% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 4,272 shares of the company’s stock after purchasing an additional 409 shares during the quarter. Sentry Investment Management LLC’s holdings in CAVA Group were worth $374,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Maryland State Retirement & Pension System grew its holdings in CAVA Group by 37.5% in the 2nd quarter. Maryland State Retirement & Pension System now owns 4,850 shares of the company’s stock worth $409,000 after buying an additional 1,324 shares in the last quarter. PNC Financial Services Group Inc. raised its stake 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 in the last quarter. Charles Schwab Investment Management Inc. boosted its position in CAVA Group by 5.1% during the 1st 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 period. Lewis Asset Management LLC bought a new position in shares of CAVA Group in the second quarter worth $504,000. Finally, KLP Kapitalforvaltning AS increased its holdings in shares of CAVA Group by 5.0% during the second quarter. KLP Kapitalforvaltning AS now owns 18,800 shares of the company’s stock valued at $1,584,000 after purchasing an additional 900 shares during the period. Institutional investors own 73.15% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the stock. TD Cowen cut their price objective on shares of CAVA Group from $120.00 to $90.00 and set a “buy” rating on the stock in a research note on Wednesday, August 13th. Bank of America dropped their price target on shares of CAVA Group from $121.00 to $100.00 and set a “buy” rating on the stock in a research report on Wednesday, August 13th. Sanford C. Bernstein set a $74.00 price objective on shares of CAVA Group in a report on Wednesday, August 13th. Citigroup lowered their price objective on shares of CAVA Group from $102.00 to $88.00 and set a “neutral” rating on the stock in a research note on Wednesday, August 13th. Finally, The Goldman Sachs Group initiated coverage on CAVA Group in a research report on Monday. They issued a “neutral” rating for the company. One research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and nine have issued a Hold rating to the stock. Based on data from MarketBeat.com, CAVA Group presently has a consensus rating of “Moderate Buy” and a consensus target price of $95.50.

CAVA Group Price Performance

Shares of CAVA opened at $63.18 on Monday. The firm’s 50 day moving average is $65.76 and its 200-day moving average is $78.83. CAVA Group, Inc. has a 12-month low of $58.33 and a 12-month high of $172.43. The stock has a market capitalization of $7.33 billion, a P/E ratio of 53.10, a P/E/G ratio of 3.17 and a beta of 2.50.

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