Handelsbanken Fonder AB Purchases 3,600 Shares of CAVA Group, Inc. $CAVA

Handelsbanken Fonder AB grew its holdings in CAVA Group, Inc. (NYSE:CAVA) by 17.6% during the 2nd quarter, HoldingsChannel reports. The firm owned 24,000 shares of the company’s stock after acquiring an additional 3,600 shares during the quarter. Handelsbanken Fonder AB’s holdings in CAVA Group were worth $2,022,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in CAVA. Vanguard Group Inc. boosted its stake in CAVA Group by 13.2% during the 1st quarter. Vanguard Group Inc. now owns 9,065,782 shares of the company’s stock valued at $783,374,000 after purchasing an additional 1,054,180 shares during the period. Price T Rowe Associates Inc. MD increased its position in CAVA Group by 114.4% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 2,394,561 shares of the company’s stock worth $206,915,000 after buying an additional 1,277,912 shares during the period. Geode Capital Management LLC lifted its holdings in shares of CAVA Group by 16.2% during the second quarter. Geode Capital Management LLC now owns 1,622,898 shares of the company’s stock worth $136,715,000 after buying an additional 226,785 shares during the last quarter. Alliancebernstein L.P. boosted its position in shares of CAVA Group by 2,072.1% in the first quarter. Alliancebernstein L.P. now owns 852,691 shares of the company’s stock valued at $73,681,000 after acquiring an additional 813,434 shares during the period. Finally, Nuveen LLC acquired a new stake in shares of CAVA Group in the first quarter worth $72,800,000. 73.15% of the stock is currently owned by institutional investors.

CAVA Group Stock Performance

Shares of CAVA Group stock opened at $49.74 on Thursday. The firm has a market cap of $5.77 billion, a P/E ratio of 42.88, a price-to-earnings-growth ratio of 2.75 and a beta of 2.47. The firm’s 50-day simple moving average is $57.38 and its 200-day simple moving average is $71.83. CAVA Group, Inc. has a twelve month low of $43.41 and a twelve month high of $153.34.

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

Analyst Upgrades and Downgrades

CAVA has been the subject of several research analyst reports. Citigroup reiterated a “neutral” rating on shares of CAVA Group in a research note on Wednesday, November 12th. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $68.00 price objective on shares of CAVA Group in a research report on Wednesday, November 5th. Sanford C. Bernstein reduced their target price 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. KeyCorp lowered their price target on CAVA Group from $85.00 to $65.00 and set an “overweight” rating on the stock in a research note on Wednesday, November 5th. Finally, Royal Bank Of Canada set a $70.00 price target on CAVA Group in a report on Wednesday, November 5th. One investment 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 company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $81.75.

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.