CAVA Group, Inc. $CAVA Shares Bought by Oppenheimer Asset Management Inc.

Oppenheimer Asset Management Inc. lifted its holdings in shares of CAVA Group, Inc. (NYSE:CAVA) by 329.3% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 18,373 shares of the company’s stock after acquiring an additional 14,093 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in CAVA Group were worth $1,548,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. First Horizon Advisors Inc. increased its holdings in CAVA Group by 1,400.0% during the 1st quarter. First Horizon Advisors Inc. now owns 285 shares of the company’s stock worth $25,000 after purchasing an additional 266 shares during the last quarter. Vision Financial Markets LLC purchased a new position in shares of CAVA Group during the 1st quarter valued at approximately $26,000. Dagco Inc. acquired a new stake in shares of CAVA Group during the first quarter worth approximately $27,000. Brooklyn Investment Group grew its position in shares of CAVA Group by 168.0% during the first quarter. Brooklyn Investment Group now owns 402 shares of the company’s stock worth $35,000 after buying an additional 252 shares in the last quarter. Finally, Fifth Third Bancorp bought a new stake in shares of CAVA Group in the second quarter worth $38,000. Hedge funds and other institutional investors own 73.15% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the stock. Morgan Stanley reduced their price objective on shares of CAVA Group from $97.00 to $95.00 and set an “equal weight” rating on the stock in a research note on Tuesday, October 21st. Sanford C. Bernstein set a $74.00 price target on shares of CAVA Group in a research report on Wednesday, August 13th. Piper Sandler lowered their price objective on CAVA Group from $122.00 to $100.00 and set an “overweight” rating for the company in a report on Wednesday, August 13th. Bank of America cut their price objective on CAVA Group from $121.00 to $100.00 and set a “buy” rating on the stock in a research note on Wednesday, August 13th. Finally, Robert W. Baird set a $95.00 target price on CAVA Group in a research report on Wednesday, August 13th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and ten have issued a Hold rating to the company’s stock. According to MarketBeat.com, CAVA Group presently has a consensus rating of “Moderate Buy” and a consensus target price of $92.30.

CAVA Group Trading Down 11.2%

NYSE:CAVA opened at $53.73 on Friday. The stock has a 50 day moving average of $63.93 and a 200-day moving average of $77.48. The firm has a market capitalization of $6.23 billion, a PE ratio of 45.15, a price-to-earnings-growth ratio of 3.48 and a beta of 2.50. CAVA Group, Inc. has a 52 week low of $53.32 and a 52 week high of $172.43.

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

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.