Envestnet Asset Management Inc. Has $11.89 Million Stock Position in CAVA Group, Inc. $CAVA

Envestnet Asset Management Inc. grew its holdings in CAVA Group, Inc. (NYSE:CAVA) by 192.6% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 141,106 shares of the company’s stock after purchasing an additional 92,885 shares during the period. Envestnet Asset Management Inc.’s holdings in CAVA Group were worth $11,885,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Vision Financial Markets LLC acquired a new position in CAVA Group during the first quarter worth $26,000. Dagco Inc. bought a new stake in CAVA Group during the 1st quarter worth about $27,000. Brooklyn Investment Group boosted its stake in shares of CAVA Group by 168.0% during the 1st quarter. Brooklyn Investment Group now owns 402 shares of the company’s stock worth $35,000 after buying an additional 252 shares during the last quarter. Fifth Third Bancorp acquired a new position in shares of CAVA Group during the 2nd quarter worth about $38,000. Finally, Whittier Trust Co. grew its holdings in shares of CAVA Group by 60.9% in the 2nd quarter. Whittier Trust Co. now owns 457 shares of the company’s stock valued at $38,000 after acquiring an additional 173 shares in the last quarter. Institutional investors own 73.15% of the company’s stock.

Wall Street Analysts Forecast Growth

CAVA has been the topic of several analyst reports. Barclays dropped their target price on CAVA Group from $64.00 to $52.00 and set an “equal weight” rating on the stock in a report on Wednesday. Bank of America lowered their price target on CAVA Group from $121.00 to $100.00 and set a “buy” rating on the stock in a research report on Wednesday, August 13th. Weiss Ratings reiterated a “hold (c)” rating on shares of CAVA Group in a research note on Wednesday, October 8th. Mizuho raised CAVA Group to a “hold” rating in a report on Tuesday, October 28th. Finally, Robert W. Baird set a $95.00 target price on shares of CAVA Group in a report on Wednesday, August 13th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and nine have given a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $82.55.

CAVA Group Stock Performance

NYSE CAVA opened at $48.58 on Friday. The stock has a market cap of $5.63 billion, a PE ratio of 41.88, a P/E/G ratio of 2.75 and a beta of 2.47. The firm has a 50-day moving average of $61.91 and a 200-day moving average of $75.98. CAVA Group, Inc. has a 52-week low of $45.57 and a 52-week high of $172.43.

CAVA Group (NYSE:CAVA) last released its quarterly earnings results on Tuesday, November 4th. The company reported $0.12 earnings per share for the quarter, missing the consensus estimate of $0.13 by ($0.01). The company had revenue of $292.24 million during the quarter, compared to the consensus estimate of $292.88 million. CAVA Group had a net margin of 12.14% and a return on equity of 8.88%. The firm’s revenue was up 19.9% compared to the same quarter last year. During the same period in the prior year, the company earned $0.15 earnings per share. As a group, analysts predict 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.