New York State Teachers Retirement System Has $3.17 Million Holdings in CAVA Group, Inc. $CAVA

New York State Teachers Retirement System boosted its position in shares of CAVA Group, Inc. (NYSE:CAVA) by 204.3% during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 37,682 shares of the company’s stock after buying an additional 25,300 shares during the quarter. New York State Teachers Retirement System’s holdings in CAVA Group were worth $3,174,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Mutual Advisors LLC bought a new position in CAVA Group during the second quarter worth about $317,000. Harbour Investments Inc. lifted its holdings in CAVA Group by 135.5% during the 2nd quarter. Harbour Investments Inc. now owns 2,108 shares of the company’s stock valued at $178,000 after purchasing an additional 1,213 shares during the last quarter. Defender Capital LLC. bought a new stake in shares of CAVA Group during the second quarter worth approximately $649,000. Atria Wealth Solutions Inc. increased its position in CAVA Group by 137.4% during the second quarter. Atria Wealth Solutions Inc. now owns 6,952 shares of the company’s stock worth $598,000 after acquiring an additional 4,024 shares during the period. Finally, Envestnet Portfolio Solutions Inc. acquired a new position in CAVA Group in the 2nd quarter valued at $306,000. Institutional investors own 73.15% of the company’s stock.

CAVA Group Price Performance

Shares of CAVA opened at $65.53 on Wednesday. CAVA Group, Inc. has a 1-year low of $58.33 and a 1-year high of $172.43. The firm has a market capitalization of $7.60 billion, a PE ratio of 55.06, a price-to-earnings-growth ratio of 3.19 and a beta of 2.50. The company’s fifty day moving average price is $64.96 and its 200-day moving average price is $78.65.

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

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the stock. Argus set a $76.00 price target on shares of CAVA Group in a report on Tuesday, September 2nd. UBS Group dropped their price target on shares of CAVA Group from $96.00 to $75.00 and set a “neutral” rating on the stock in a research report on Wednesday, August 13th. Piper Sandler dropped their price objective on CAVA Group from $122.00 to $100.00 and set an “overweight” rating on the stock in a research note on Wednesday, August 13th. Sanford C. Bernstein set a $74.00 price objective on CAVA Group in a report on Wednesday, August 13th. Finally, Barclays cut their price objective on CAVA Group from $91.00 to $74.00 and set an “equal weight” rating for the company in a report on Wednesday, August 13th. One investment analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and nine have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, CAVA Group has an average rating of “Moderate Buy” and a consensus target price of $94.26.

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.