Louisiana State Employees Retirement System increased its stake in CAVA Group, Inc. (NYSE:CAVA – Free Report) by 4.5% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 23,100 shares of the company’s stock after buying an additional 1,000 shares during the quarter. Louisiana State Employees Retirement System’s holdings in CAVA Group were worth $1,946,000 as of its most recent filing with the SEC.
A number of other large investors have also modified their holdings of CAVA. Jennison Associates LLC grew its stake in shares of CAVA Group by 246.1% in the first quarter. Jennison Associates LLC now owns 8,519,459 shares of the company’s stock valued at $736,166,000 after buying an additional 6,057,727 shares in the last quarter. Price T Rowe Associates Inc. MD grew its stake in shares of CAVA Group by 114.4% in the first quarter. Price T Rowe Associates Inc. MD now owns 2,394,561 shares of the company’s stock valued at $206,915,000 after buying an additional 1,277,912 shares in the last quarter. Vanguard Group Inc. grew its stake in shares of CAVA Group by 13.2% in the first quarter. Vanguard Group Inc. now owns 9,065,782 shares of the company’s stock valued at $783,374,000 after buying an additional 1,054,180 shares in the last quarter. Nuveen LLC acquired a new stake in shares of CAVA Group in the first quarter valued at about $72,800,000. Finally, Alliancebernstein L.P. grew its stake in shares of CAVA Group by 2,072.1% in the first quarter. Alliancebernstein L.P. now owns 852,691 shares of the company’s stock valued at $73,681,000 after buying an additional 813,434 shares in the last quarter. Institutional investors and hedge funds own 73.15% of the company’s stock.
Wall Street Analyst Weigh In
CAVA has been the subject of a number of recent research reports. Stifel Nicolaus lowered their target price on CAVA Group from $175.00 to $125.00 and set a “buy” rating for the company in a research note on Wednesday, June 18th. Melius initiated coverage on CAVA Group in a research note on Monday, July 14th. They set a “hold” rating and a $95.00 price objective for the company. Piper Sandler lowered their price objective on CAVA Group from $122.00 to $100.00 and set an “overweight” rating for the company in a research note on Wednesday, August 13th. Robert W. Baird set a $95.00 price objective on CAVA Group in a research note on Wednesday, August 13th. Finally, Royal Bank Of Canada initiated coverage on CAVA Group in a research note on Wednesday. They set an “outperform” rating and a $80.00 price objective for the company. One research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and eight have issued a Hold rating to the company. Based on data from MarketBeat, CAVA Group currently has an average rating of “Moderate Buy” and a consensus price target of $95.50.
CAVA Group Trading Down 4.2%
Shares of CAVA opened at $62.27 on Friday. The firm has a market cap of $7.22 billion, a price-to-earnings ratio of 52.33, a PEG ratio of 3.11 and a beta of 2.50. The stock has a 50 day moving average of $68.11 and a 200-day moving average of $79.70. CAVA Group, Inc. has a 52 week low of $58.33 and a 52 week high of $172.43.
CAVA Group (NYSE:CAVA – Get Free Report) last issued its earnings results on Tuesday, August 12th. The company reported $0.16 EPS for the quarter, topping the consensus estimate of $0.13 by $0.03. The company had revenue of $280.62 million during the quarter, compared to analyst estimates of $285.65 million. CAVA Group had a return on equity of 9.83% and a net margin of 12.98%.The business’s revenue was up 20.2% on a year-over-year basis. During the same quarter last year, the firm earned $0.17 EPS. On average, sell-side analysts predict that CAVA Group, Inc. will post 0.5 earnings per share for the current fiscal year.
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.
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