Wealthspire Advisors LLC Trims Stake in CAVA Group, Inc. $CAVA

Wealthspire Advisors LLC reduced its holdings in CAVA Group, Inc. (NYSE:CAVA) by 39.6% during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 32,873 shares of the company’s stock after selling 21,540 shares during the quarter. Wealthspire Advisors LLC’s holdings in CAVA Group were worth $2,769,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently made changes to their positions in the stock. Maryland State Retirement & Pension System boosted its stake in CAVA Group by 37.5% in the second quarter. Maryland State Retirement & Pension System now owns 4,850 shares of the company’s stock worth $409,000 after buying an additional 1,324 shares in the last quarter. PNC Financial Services Group Inc. raised its holdings in shares of CAVA Group by 123.4% during the first quarter. PNC Financial Services Group Inc. now owns 5,458 shares of the company’s stock valued at $472,000 after acquiring an additional 3,015 shares in the last quarter. Y Intercept Hong Kong Ltd lifted its position in shares of CAVA Group by 271.7% in the 2nd quarter. Y Intercept Hong Kong Ltd now owns 23,659 shares of the company’s stock worth $1,993,000 after purchasing an additional 17,294 shares during the period. Hantz Financial Services Inc. boosted its position in CAVA Group by 1,846,775.0% during the 2nd quarter. Hantz Financial Services Inc. now owns 73,875 shares of the company’s stock valued at $6,222,000 after acquiring an additional 73,871 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its stake in CAVA Group by 5.1% in the first quarter. Charles Schwab Investment Management Inc. now owns 554,934 shares of the company’s stock worth $47,952,000 after purchasing an additional 27,066 shares during the period. Hedge funds and other institutional investors own 73.15% of the company’s stock.

CAVA Group Stock Up 0.9%

Shares of CAVA opened at $45.46 on Thursday. CAVA Group, Inc. has a 52 week low of $44.26 and a 52 week high of $153.34. The stock has a market cap of $5.27 billion, a price-to-earnings ratio of 39.19, a PEG ratio of 2.55 and a beta of 2.47. The business has a 50-day simple moving average of $58.94 and a two-hundred day simple moving average of $73.47.

CAVA Group (NYSE:CAVA) last announced its quarterly earnings data on Tuesday, November 4th. The company reported $0.12 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.01). CAVA Group had a net margin of 12.14% and a return on equity of 8.88%. The company had revenue of $292.24 million for the quarter, compared to the consensus estimate of $292.88 million. During the same quarter last year, the firm posted $0.15 earnings per share. The company’s revenue was up 19.9% compared to the same quarter last year. On average, equities analysts anticipate that CAVA Group, Inc. will post 0.5 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the company. Royal Bank Of Canada set a $70.00 price target on CAVA Group in a research report on Wednesday, November 5th. Cfra Research raised CAVA Group to a “strong-buy” rating in a report on Thursday, August 14th. Morgan Stanley set a $86.00 price objective on CAVA Group in a research report on Wednesday, November 5th. Barclays reduced their price objective on CAVA Group from $64.00 to $52.00 and set an “equal weight” rating for the company in a report on Wednesday, November 5th. Finally, TD Cowen lowered their target price on shares of CAVA Group from $80.00 to $67.00 and set a “buy” rating on the stock in a research note on Wednesday, November 5th. One research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and nine have given a Hold rating to the stock. According to data from MarketBeat, CAVA Group currently has an average rating of “Moderate Buy” and an average target price of $81.75.

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.