Trust Investment Advisors Sells 239 Shares of CAVA Group, Inc. $CAVA

Trust Investment Advisors lessened its holdings in CAVA Group, Inc. (NYSE:CAVA) by 4.0% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,693 shares of the company’s stock after selling 239 shares during the quarter. Trust Investment Advisors’ holdings in CAVA Group were worth $480,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently modified their holdings of the stock. First National Trust Co bought a new stake in shares of CAVA Group in the 2nd quarter worth approximately $345,000. Rossby Financial LCC raised its holdings in shares of CAVA Group by 32.3% in the 2nd quarter. Rossby Financial LCC now owns 2,050 shares of the company’s stock worth $173,000 after purchasing an additional 500 shares during the period. Teacher Retirement System of Texas grew its stake in shares of CAVA Group by 11.9% during the 2nd quarter. Teacher Retirement System of Texas now owns 14,021 shares of the company’s stock worth $1,181,000 after acquiring an additional 1,491 shares during the period. Y Intercept Hong Kong Ltd grew its stake in shares of CAVA Group by 271.7% during the 2nd quarter. Y Intercept Hong Kong Ltd now owns 23,659 shares of the company’s stock worth $1,993,000 after acquiring an additional 17,294 shares during the period. Finally, Envestnet Asset Management Inc. grew its stake in shares of CAVA Group by 192.6% during the 2nd quarter. Envestnet Asset Management Inc. now owns 141,106 shares of the company’s stock worth $11,885,000 after acquiring an additional 92,885 shares during the period. Institutional investors own 73.15% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently weighed in on CAVA. Citigroup cut their price target on CAVA Group from $102.00 to $88.00 and set a “neutral” rating for the company in a research note on Wednesday, August 13th. Weiss Ratings reiterated a “hold (c)” rating on shares of CAVA Group in a research note on Wednesday, October 8th. Argus set a $76.00 price target on CAVA Group in a research note on Tuesday, September 2nd. Piper Sandler cut their price target on CAVA Group from $122.00 to $100.00 and set an “overweight” rating for the company in a research note on Wednesday, August 13th. Finally, Robert W. Baird set a $95.00 price target on CAVA Group in a research note on Wednesday, August 13th. One investment analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and nine have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $92.30.

CAVA Group Stock Performance

Shares of CAVA opened at $62.97 on Tuesday. The stock’s 50-day simple moving average is $64.49 and its 200 day simple moving average is $78.04. The stock has a market capitalization of $7.30 billion, a price-to-earnings ratio of 52.92, a price-to-earnings-growth ratio of 3.25 and a beta of 2.50. CAVA Group, Inc. has a 52-week low of $58.33 and a 52-week high of $172.43.

CAVA Group (NYSE:CAVA) last issued its quarterly earnings data on Tuesday, August 12th. The company reported $0.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.13 by $0.03. The business had revenue of $280.62 million for the quarter, compared to analysts’ expectations of $285.65 million. CAVA Group had a return on equity of 9.83% and a net margin of 12.98%.The firm’s quarterly revenue was up 20.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.17 EPS. On average, research analysts forecast that CAVA Group, Inc. will post 0.5 earnings per share for the current fiscal 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.