Nordea Investment Management AB Purchases 14,781 Shares of CAVA Group, Inc. $CAVA

Nordea Investment Management AB lifted its position in CAVA Group, Inc. (NYSE:CAVA) by 79.8% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 33,304 shares of the company’s stock after buying an additional 14,781 shares during the quarter. Nordea Investment Management AB’s holdings in CAVA Group were worth $2,799,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. First Horizon Advisors Inc. grew its stake in shares of CAVA Group by 1,400.0% in the first quarter. First Horizon Advisors Inc. now owns 285 shares of the company’s stock valued at $25,000 after buying an additional 266 shares in the last quarter. Vision Financial Markets LLC bought a new position in shares of CAVA Group in the first quarter valued at $26,000. Dagco Inc. acquired a new stake in CAVA Group during the 1st quarter valued at $27,000. Brooklyn Investment Group lifted its holdings in CAVA Group by 168.0% during the 1st quarter. Brooklyn Investment Group now owns 402 shares of the company’s stock valued at $35,000 after purchasing an additional 252 shares during the last quarter. Finally, Fifth Third Bancorp acquired a new stake in CAVA Group during the 2nd quarter valued at $38,000. 73.15% of the stock is owned by institutional investors.

CAVA Group Stock Performance

CAVA opened at $64.35 on Thursday. CAVA Group, Inc. has a fifty-two week low of $58.33 and a fifty-two week high of $172.43. The company has a market capitalization of $7.46 billion, a P/E ratio of 54.07, a P/E/G ratio of 3.37 and a beta of 2.50. The stock has a fifty day moving average of $64.84 and a 200-day moving average of $78.55.

CAVA Group (NYSE:CAVA) last posted its quarterly 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 during the quarter, compared to the consensus estimate of $285.65 million. During the same quarter in the previous year, the firm earned $0.17 earnings per share. CAVA Group’s revenue for the quarter was up 20.2% compared to the same quarter last year. On average, equities research analysts predict that CAVA Group, Inc. will post 0.5 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

CAVA has been the subject of several research reports. JPMorgan Chase & Co. cut their price target on CAVA Group from $115.00 to $95.00 and set an “overweight” rating for the company in a report on Wednesday, June 25th. Piper Sandler cut their price target on CAVA Group from $122.00 to $100.00 and set an “overweight” rating for the company in a report on Wednesday, August 13th. Barclays cut their price target on CAVA Group from $74.00 to $64.00 and set an “equal weight” rating for the company in a report on Wednesday. Morgan Stanley cut their price target on CAVA Group from $97.00 to $95.00 and set an “equal weight” rating for the company in a report on Tuesday. Finally, TD Cowen cut their price target on CAVA Group from $120.00 to $90.00 and set a “buy” rating for the company in a report on Wednesday, August 13th. One research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and nine have issued a Hold rating to the company’s stock. According to MarketBeat, CAVA Group has a consensus rating of “Moderate Buy” and an average price target of $93.74.

About CAVA Group

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.