Liberty One Investment Management LLC Has $718,000 Stake in CAVA Group, Inc. $CAVA

Liberty One Investment Management LLC grew its holdings in CAVA Group, Inc. (NYSE:CAVA) by 14.7% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 8,527 shares of the company’s stock after buying an additional 1,093 shares during the period. Liberty One Investment Management LLC’s holdings in CAVA Group were worth $718,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in CAVA. Jennison Associates LLC lifted its position in shares of CAVA Group by 246.1% in the first quarter. Jennison Associates LLC now owns 8,519,459 shares of the company’s stock valued at $736,166,000 after buying an additional 6,057,727 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in CAVA Group by 114.4% during 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 purchasing an additional 1,277,912 shares during the last quarter. Vanguard Group Inc. lifted its holdings in CAVA Group by 13.2% during the 1st quarter. Vanguard Group Inc. now owns 9,065,782 shares of the company’s stock worth $783,374,000 after purchasing an additional 1,054,180 shares during the last quarter. Nuveen LLC acquired a new stake in CAVA Group during the 1st quarter worth approximately $72,800,000. Finally, Alliancebernstein L.P. lifted its holdings in CAVA Group by 2,072.1% during the 1st quarter. Alliancebernstein L.P. now owns 852,691 shares of the company’s stock worth $73,681,000 after purchasing an additional 813,434 shares during the last quarter. 73.15% of the stock is owned by institutional investors and hedge funds.

CAVA Group Stock Performance

Shares of CAVA opened at $62.34 on Tuesday. CAVA Group, Inc. has a 52-week low of $58.33 and a 52-week high of $172.43. The business’s fifty day moving average is $65.36 and its 200-day moving average is $78.74. The firm has a market cap of $7.23 billion, a price-to-earnings ratio of 52.39, a PEG ratio of 3.17 and a beta of 2.50.

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

Analyst Upgrades and Downgrades

Several analysts recently weighed in on CAVA shares. Cfra Research raised CAVA Group to a “strong-buy” rating in a report on Thursday, August 14th. Morgan Stanley dropped their price target on CAVA Group from $107.00 to $97.00 and set an “equal weight” rating for the company in a report on Wednesday, August 13th. Robert W. Baird set a $95.00 price objective on CAVA Group in a report on Wednesday, August 13th. Wall Street Zen cut CAVA Group from a “hold” rating to a “sell” rating in a report on Friday, June 27th. Finally, UBS Group dropped their price objective on CAVA Group from $96.00 to $75.00 and set a “neutral” rating for the company in a 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 nine have given a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $94.37.

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.