CAVA Group, Inc. $CAVA Shares Acquired by Stratos Wealth Partners LTD.

Stratos Wealth Partners LTD. increased its stake in shares of CAVA Group, Inc. (NYSE:CAVA) by 98.6% during the 2nd quarter, HoldingsChannel.com reports. The fund owned 10,795 shares of the company’s stock after purchasing an additional 5,359 shares during the period. Stratos Wealth Partners LTD.’s holdings in CAVA Group were worth $909,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of CAVA. Bison Wealth LLC acquired a new position in CAVA Group during the 4th quarter worth approximately $208,000. GAMMA Investing LLC lifted its position in CAVA Group by 102.4% during the 1st quarter. GAMMA Investing LLC now owns 854 shares of the company’s stock worth $74,000 after acquiring an additional 432 shares in the last quarter. Janney Montgomery Scott LLC lifted its position in CAVA Group by 75.0% during the 1st quarter. Janney Montgomery Scott LLC now owns 47,405 shares of the company’s stock worth $4,096,000 after acquiring an additional 20,312 shares in the last quarter. State of Alaska Department of Revenue acquired a new position in CAVA Group during the 1st quarter worth approximately $823,000. Finally, Retirement Systems of Alabama acquired a new position in CAVA Group during the 1st quarter worth approximately $8,537,000. 73.15% of the stock is owned by institutional investors and hedge funds.

CAVA Group Trading Up 5.2%

Shares of NYSE CAVA opened at $65.53 on Wednesday. CAVA Group, Inc. has a twelve month low of $58.33 and a twelve month high of $172.43. The company has a market capitalization of $7.60 billion, a price-to-earnings ratio of 55.06, a price-to-earnings-growth ratio of 3.19 and a beta of 2.50. The business has a 50 day simple moving average of $64.96 and a 200-day simple moving average of $78.65.

CAVA Group (NYSE:CAVA) last issued its quarterly earnings results on Tuesday, August 12th. The company reported $0.16 earnings per share for the quarter, beating analysts’ consensus estimates of $0.13 by $0.03. CAVA Group had a return on equity of 9.83% and a net margin of 12.98%.The business had revenue of $280.62 million during the quarter, compared to the consensus estimate of $285.65 million. During the same period in the previous year, the business earned $0.17 EPS. The business’s quarterly revenue was up 20.2% on a year-over-year basis. As a group, equities analysts predict that CAVA Group, Inc. will post 0.5 earnings per share for the current year.

Wall Street Analysts Forecast Growth

CAVA has been the topic of several recent research reports. JPMorgan Chase & Co. reduced their price target on CAVA Group from $115.00 to $95.00 and set an “overweight” rating on the stock in a research report on Wednesday, June 25th. Cfra Research raised CAVA Group to a “strong-buy” rating in a research report on Thursday, August 14th. UBS Group cut their target price on CAVA Group from $96.00 to $75.00 and set a “neutral” rating on the stock in a research report on Wednesday, August 13th. Melius began coverage on CAVA Group in a research report on Monday, July 14th. They issued a “hold” rating and a $95.00 target price on the stock. Finally, Morgan Stanley set a $95.00 target price on CAVA Group in a research report on Tuesday. One investment analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and nine have given a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $94.26.

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.