3,239 Shares in CAVA Group, Inc. $CAVA Bought by Lecap Asset Management Ltd.

Lecap Asset Management Ltd. purchased a new position in CAVA Group, Inc. (NYSE:CAVA) in the 2nd quarter, HoldingsChannel.com reports. The fund purchased 3,239 shares of the company’s stock, valued at approximately $273,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. GAMMA Investing LLC increased its holdings in CAVA Group by 17,386.7% in the 1st quarter. GAMMA Investing LLC now owns 73,794 shares of the company’s stock worth $6,377,000 after acquiring an additional 73,372 shares in the last quarter. PNC Financial Services Group Inc. grew 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 worth $472,000 after buying an additional 3,015 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of CAVA Group by 5.1% during the first quarter. Charles Schwab Investment Management Inc. now owns 554,934 shares of the company’s stock worth $47,952,000 after buying an additional 27,066 shares in the last quarter. Lewis Asset Management LLC purchased a new stake in shares of CAVA Group during the second quarter worth $504,000. Finally, SG Americas Securities LLC grew its holdings in shares of CAVA Group by 768.4% during the first quarter. SG Americas Securities LLC now owns 220,816 shares of the company’s stock worth $19,081,000 after buying an additional 195,389 shares in the last quarter. Hedge funds and other institutional investors own 73.15% of the company’s stock.

CAVA Group Trading Up 0.4%

Shares of CAVA stock opened at $63.49 on Friday. The company’s 50-day moving average price is $70.52 and its 200-day moving average price is $80.53. The stock has a market cap of $7.36 billion, a price-to-earnings ratio of 53.36, a PEG ratio of 3.16 and a beta of 2.50. CAVA Group, Inc. has a twelve month low of $58.33 and a twelve month high of $172.43.

CAVA Group (NYSE:CAVA) last posted its 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. CAVA Group had a net margin of 12.98% and a return on equity of 9.83%. The company had revenue of $280.62 million for the quarter, compared to analysts’ expectations of $285.65 million. During the same quarter in the prior year, the company posted $0.17 earnings per share. CAVA Group’s revenue for the quarter was up 20.2% compared to the same quarter last year. As a group, equities research analysts predict that CAVA Group, Inc. will post 0.5 EPS for the current year.

Analysts Set New Price Targets

CAVA has been the subject of a number of research reports. Piper Sandler dropped their target price on shares of CAVA Group from $122.00 to $100.00 and set an “overweight” rating for the company in a report on Wednesday, August 13th. Sanford C. Bernstein set a $74.00 target price on shares of CAVA Group in a report on Wednesday, August 13th. Robert W. Baird set a $95.00 target price on shares of CAVA Group in a report on Wednesday, August 13th. Cfra Research raised shares of CAVA Group to a “strong-buy” rating in a research report on Thursday, August 14th. Finally, TD Cowen lowered their price target on shares of CAVA Group from $120.00 to $90.00 and set a “buy” rating on the stock in a research report on Wednesday, August 13th. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and eight have issued a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $96.41.

CAVA Group Company 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.