Concurrent Investment Advisors LLC Cuts Holdings in CAVA Group, Inc. $CAVA

Concurrent Investment Advisors LLC trimmed its holdings in shares of CAVA Group, Inc. (NYSE:CAVA) by 36.3% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 3,977 shares of the company’s stock after selling 2,267 shares during the period. Concurrent Investment Advisors LLC’s holdings in CAVA Group were worth $335,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in CAVA. First Horizon Advisors Inc. boosted its stake in CAVA Group by 1,400.0% during 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 during the last quarter. Vision Financial Markets LLC purchased a new stake in CAVA Group during the 1st quarter valued at $26,000. Dagco Inc. purchased a new stake in CAVA Group during the 1st quarter valued at $27,000. Brooklyn Investment Group boosted its stake 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 purchased a new position in shares of CAVA Group in the 2nd quarter worth $38,000. 73.15% of the stock is currently owned by hedge funds and other institutional investors.

CAVA Group Stock Performance

Shares of CAVA Group stock opened at $63.18 on Monday. CAVA Group, Inc. has a one year low of $58.33 and a one year high of $172.43. The stock’s fifty day moving average is $65.76 and its 200 day moving average is $78.83. The stock has a market cap of $7.33 billion, a P/E ratio of 53.10, a P/E/G ratio of 3.17 and a beta of 2.50.

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. The business had revenue of $280.62 million for the quarter, compared to analysts’ expectations of $285.65 million. CAVA Group had a return on equity of 9.83% and a net margin of 12.98%.The business’s quarterly revenue was up 20.2% on a year-over-year basis. During the same period last year, the firm earned $0.17 earnings per share. Analysts predict that CAVA Group, Inc. will post 0.5 EPS for the current year.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the company. KeyCorp dropped their price target on CAVA Group from $100.00 to $85.00 and set an “overweight” rating on the stock in a research note on Wednesday, August 13th. Cfra Research upgraded CAVA Group to a “strong-buy” rating in a research note on Thursday, August 14th. Melius assumed coverage on CAVA Group in a research note on Monday, July 14th. They issued a “hold” rating and a $95.00 price target on the stock. JPMorgan Chase & Co. dropped their price target on CAVA Group from $115.00 to $95.00 and set an “overweight” rating on the stock in a research note on Wednesday, June 25th. Finally, The Goldman Sachs Group initiated coverage on CAVA Group in a report on Monday. They issued a “neutral” rating on the stock. One equities research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and nine have issued a Hold rating to the stock. According to MarketBeat.com, CAVA Group presently has a consensus rating of “Moderate Buy” and an average target price of $95.50.

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.