D.B. Root & Company LLC Sells 179 Shares of CAVA Group, Inc. $CAVA

D.B. Root & Company LLC lowered its holdings in shares of CAVA Group, Inc. (NYSE:CAVA) by 3.0% in the 2nd quarter, Holdings Channel.com reports. The fund owned 5,820 shares of the company’s stock after selling 179 shares during the period. D.B. Root & Company LLC’s holdings in CAVA Group were worth $490,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of CAVA. Jennison Associates LLC raised its stake in shares of CAVA Group by 246.1% during the first quarter. Jennison Associates LLC now owns 8,519,459 shares of the company’s stock valued at $736,166,000 after acquiring an additional 6,057,727 shares during the last quarter. Price T Rowe Associates Inc. MD raised its stake in CAVA Group by 114.4% during the first 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 last quarter. Vanguard Group Inc. raised its stake in CAVA Group by 13.2% during the first quarter. Vanguard Group Inc. now owns 9,065,782 shares of the company’s stock worth $783,374,000 after buying an additional 1,054,180 shares during the last quarter. Nuveen LLC bought a new position in CAVA Group during the first quarter worth $72,800,000. Finally, Alliancebernstein L.P. raised its stake in CAVA Group by 2,072.1% during the first quarter. Alliancebernstein L.P. now owns 852,691 shares of the company’s stock worth $73,681,000 after buying an additional 813,434 shares during the last quarter. Institutional investors own 73.15% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the stock. Melius assumed coverage on shares of CAVA Group in a research note on Monday, July 14th. They set a “hold” rating and a $95.00 target price for the company. Piper Sandler lowered their target price on shares of CAVA Group from $122.00 to $100.00 and set an “overweight” rating for the company in a research note on Wednesday, August 13th. UBS Group lowered their target price on shares of CAVA Group from $96.00 to $75.00 and set a “neutral” rating for the company in a research note on Wednesday, August 13th. Barclays reduced their price target on shares of CAVA Group from $91.00 to $74.00 and set an “equal weight” rating for the company in a report on Wednesday, August 13th. Finally, Morgan Stanley reduced their price target on shares of CAVA Group from $107.00 to $97.00 and set an “equal weight” rating for the company in a report on Wednesday, August 13th. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and eight have assigned a Hold rating to the company’s stock. According to MarketBeat, CAVA Group has a consensus rating of “Moderate Buy” and an average target price of $96.41.

CAVA Group Stock Performance

CAVA Group stock opened at $63.49 on Monday. The stock has a market cap of $7.36 billion, a PE ratio of 53.36, a price-to-earnings-growth ratio of 3.18 and a beta of 2.50. CAVA Group, Inc. has a fifty-two week low of $58.33 and a fifty-two week high of $172.43. The firm’s 50-day simple moving average is $70.52 and its 200 day simple moving average is $80.50.

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

CAVA Group 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.