FNY Investment Advisers LLC Increases Position in CAVA Group, Inc. $CAVA

FNY Investment Advisers LLC lifted its stake in shares of CAVA Group, Inc. (NYSE:CAVA) by 70.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,343 shares of the company’s stock after acquiring an additional 1,376 shares during the quarter. FNY Investment Advisers LLC’s holdings in CAVA Group were worth $281,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also modified their holdings of the company. First Horizon Advisors Inc. increased its holdings in 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 during the last quarter. Vision Financial Markets LLC purchased a new position in CAVA Group in the first quarter valued at $26,000. Dagco Inc. purchased a new position in CAVA Group in the first quarter valued at $27,000. Brooklyn Investment Group increased its holdings in CAVA Group by 168.0% in the first quarter. Brooklyn Investment Group now owns 402 shares of the company’s stock valued at $35,000 after buying an additional 252 shares during the last quarter. Finally, Fifth Third Bancorp purchased a new position in CAVA Group in the second quarter valued at $38,000. Hedge funds and other institutional investors own 73.15% of the company’s stock.

Analyst Upgrades and Downgrades

CAVA has been the topic of several recent analyst reports. KeyCorp dropped their target price on CAVA Group from $100.00 to $85.00 and set an “overweight” rating on the stock in a report on Wednesday, August 13th. TD Cowen decreased their price objective on shares of CAVA Group from $120.00 to $90.00 and set a “buy” rating for the company in a research note on Wednesday, August 13th. Royal Bank Of Canada started coverage on shares of CAVA Group in a research note on Wednesday, October 8th. They issued an “outperform” rating and a $80.00 price objective for the company. Morgan Stanley decreased their price objective on shares of CAVA Group from $97.00 to $95.00 and set an “equal weight” rating for the company in a research note on Tuesday. Finally, Barclays decreased their price objective on shares of CAVA Group from $74.00 to $64.00 and set an “equal weight” rating for the company in a research note on Wednesday. One investment analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and nine have assigned a Hold rating to the stock. According to data from MarketBeat.com, CAVA Group has a consensus rating of “Moderate Buy” and a consensus price target of $93.74.

CAVA Group Stock Performance

Shares of 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 price-to-earnings ratio of 54.07, a price-to-earnings-growth ratio of 3.37 and a beta of 2.50. The firm has a 50-day simple moving average of $64.84 and a 200-day simple moving average of $78.55.

CAVA Group (NYSE:CAVA) last announced its earnings results on Tuesday, August 12th. The company reported $0.16 earnings per share 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 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 prior year, the firm earned $0.17 earnings per share. The business’s quarterly revenue was up 20.2% compared to the same quarter last year. Equities research analysts forecast that CAVA Group, Inc. will post 0.5 EPS for the current year.

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.