Mutual of America Capital Management LLC Lowers Stock Position in CAVA Group, Inc. $CAVA

Mutual of America Capital Management LLC lowered its position in shares of CAVA Group, Inc. (NYSE:CAVA) by 2.2% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 40,838 shares of the company’s stock after selling 926 shares during the period. Mutual of America Capital Management LLC’s holdings in CAVA Group were worth $3,440,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Whittier Trust Co. of Nevada Inc. raised its position in shares of CAVA Group by 37.3% in the 1st quarter. Whittier Trust Co. of Nevada Inc. now owns 530 shares of the company’s stock worth $46,000 after purchasing an additional 144 shares during the last quarter. World Investment Advisors raised its position in shares of CAVA Group by 6.3% in the 1st quarter. World Investment Advisors now owns 3,565 shares of the company’s stock worth $308,000 after purchasing an additional 210 shares during the last quarter. Dearborn Partners LLC raised its position in shares of CAVA Group by 10.4% in the 1st quarter. Dearborn Partners LLC now owns 2,449 shares of the company’s stock worth $212,000 after purchasing an additional 230 shares during the last quarter. Cim LLC raised its position in shares of CAVA Group by 2.6% in the 1st quarter. Cim LLC now owns 9,755 shares of the company’s stock worth $843,000 after purchasing an additional 247 shares during the last quarter. Finally, Brooklyn Investment Group raised its position in shares of CAVA Group by 168.0% in the 1st quarter. Brooklyn Investment Group now owns 402 shares of the company’s stock worth $35,000 after purchasing an additional 252 shares during the last quarter. 73.15% of the stock is currently owned by institutional investors.

CAVA Group Trading Down 0.0%

CAVA opened at $64.34 on Friday. The company has a market cap of $7.46 billion, a price-to-earnings ratio of 54.07, a PEG ratio of 3.31 and a beta of 2.50. The company’s 50 day moving average is $64.75 and its 200 day moving average is $78.44. CAVA Group, Inc. has a 12-month low of $58.33 and a 12-month high of $172.43.

CAVA Group (NYSE:CAVA) last posted its quarterly earnings data on Tuesday, August 12th. The company reported $0.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.13 by $0.03. The company had revenue of $280.62 million for the quarter, compared to the consensus estimate of $285.65 million. CAVA Group had a net margin of 12.98% and a return on equity of 9.83%. The firm’s revenue was up 20.2% compared to the same quarter last year. During the same quarter last year, the firm posted $0.17 earnings per share. As a group, analysts predict that CAVA Group, Inc. will post 0.5 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. Morgan Stanley lowered their price target on CAVA Group from $97.00 to $95.00 and set an “equal weight” rating for the company in a research report on Tuesday. The Goldman Sachs Group assumed coverage on CAVA Group in a research report on Monday. They issued a “neutral” rating and a $74.00 price target for the company. Bank of America lowered their price target on CAVA Group from $121.00 to $100.00 and set a “buy” rating for the company in a research report on Wednesday, August 13th. Argus set a $76.00 price target on CAVA Group in a research report on Tuesday, September 2nd. Finally, Sanford C. Bernstein set a $74.00 price objective on CAVA Group in a report on Wednesday, August 13th. One equities research 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 MarketBeat, CAVA Group currently has a consensus rating of “Moderate Buy” and a consensus price target of $93.74.

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.