Whittier Trust Co. Has $38,000 Position in CAVA Group, Inc. $CAVA

Whittier Trust Co. grew its stake in CAVA Group, Inc. (NYSE:CAVA) by 60.9% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 457 shares of the company’s stock after purchasing an additional 173 shares during the period. Whittier Trust Co.’s holdings in CAVA Group were worth $38,000 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. First Horizon Advisors Inc. boosted its stake in shares of CAVA Group by 1,400.0% in the 1st quarter. First Horizon Advisors Inc. now owns 285 shares of the company’s stock valued at $25,000 after purchasing an additional 266 shares in the last quarter. Vision Financial Markets LLC acquired a new stake in shares of CAVA Group in the 1st quarter valued at approximately $26,000. Dagco Inc. acquired a new stake in shares of CAVA Group in the 1st quarter valued at approximately $27,000. Brooklyn Investment Group boosted its stake in shares of CAVA Group by 168.0% in 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 in the last quarter. Finally, Fifth Third Bancorp acquired a new stake in shares of CAVA Group in the 2nd quarter valued at approximately $38,000. 73.15% of the stock is currently owned by institutional investors and hedge funds.

CAVA Group Stock Performance

CAVA Group stock opened at $63.61 on Friday. CAVA Group, Inc. has a 52-week low of $58.33 and a 52-week high of $172.43. The firm has a 50 day moving average price of $64.63 and a two-hundred day moving average price of $78.34. The firm has a market cap of $7.38 billion, a price-to-earnings ratio of 53.45, a PEG ratio of 3.30 and a beta of 2.50.

CAVA Group (NYSE:CAVA) last released its quarterly earnings results on Tuesday, August 12th. The company reported $0.16 earnings per share (EPS) 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 during the quarter, compared to analyst estimates of $285.65 million. During the same quarter last year, the business earned $0.17 EPS. The company’s revenue was up 20.2% compared to the same quarter last year. As a group, equities research analysts predict that CAVA Group, Inc. will post 0.5 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the stock. Barclays reduced their price target on shares of CAVA Group from $74.00 to $64.00 and set an “equal weight” rating on the stock in a research note on Wednesday. Morgan Stanley cut their target price on shares of CAVA Group from $97.00 to $95.00 and set an “equal weight” rating on the stock in a research report on Tuesday. Robert W. Baird set a $95.00 target price on shares of CAVA Group in a research report on Wednesday, August 13th. Melius initiated coverage on shares of CAVA Group in a research report on Monday, July 14th. They set a “hold” rating and a $95.00 target price on the stock. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of CAVA Group in a research report on Friday. One research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and nine have given a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $93.74.

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.