CAVA Group, Inc. $CAVA Shares Bought by Prospect Financial Services LLC

Prospect Financial Services LLC grew its position in shares of CAVA Group, Inc. (NYSE:CAVA) by 116.8% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 5,268 shares of the company’s stock after purchasing an additional 2,838 shares during the quarter. Prospect Financial Services LLC’s holdings in CAVA Group were worth $444,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also made changes to their positions in CAVA. Advisors Capital Management LLC grew its stake in CAVA Group by 8.1% during the 2nd quarter. Advisors Capital Management LLC now owns 23,192 shares of the company’s stock worth $1,954,000 after buying an additional 1,747 shares during the last quarter. Investment Partners LTD. boosted its holdings in shares of CAVA Group by 23.2% in the second quarter. Investment Partners LTD. now owns 4,223 shares of the company’s stock valued at $356,000 after acquiring an additional 795 shares during the period. Thompson Davis & CO. Inc. purchased a new position in shares of CAVA Group during the second quarter worth approximately $244,000. ABN Amro Investment Solutions purchased a new position in shares of CAVA Group during the second quarter worth approximately $1,036,000. Finally, Police & Firemen s Retirement System of New Jersey increased its holdings in shares of CAVA Group by 39.0% in the 2nd quarter. Police & Firemen s Retirement System of New Jersey now owns 37,969 shares of the company’s stock valued at $3,198,000 after acquiring an additional 10,645 shares during the period. Institutional investors and hedge funds own 73.15% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently weighed in on CAVA. Sanford C. Bernstein decreased their price target on shares of CAVA Group from $100.00 to $80.00 and set an “outperform” rating for the company in a research note on Wednesday, November 5th. Barclays decreased their target price on shares of CAVA Group from $64.00 to $52.00 and set an “equal weight” rating for the company in a research note on Wednesday, November 5th. Cfra Research raised CAVA Group to a “strong-buy” rating in a research note on Thursday, August 14th. Bank of America lowered their target price 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, Royal Bank Of Canada set a $70.00 price target on CAVA Group in a research note on Wednesday, November 5th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and nine have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $81.75.

CAVA Group Stock Performance

NYSE:CAVA opened at $48.20 on Friday. CAVA Group, Inc. has a 1 year low of $45.57 and a 1 year high of $153.34. The stock has a fifty day moving average price of $60.53 and a two-hundred day moving average price of $74.95. The stock has a market capitalization of $5.59 billion, a price-to-earnings ratio of 41.55, a PEG ratio of 2.76 and a beta of 2.47.

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

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.