Victrix Investment Advisors Boosts Stock Position in CAVA Group, Inc. $CAVA

Victrix Investment Advisors boosted its holdings in shares of CAVA Group, Inc. (NYSE:CAVA) by 27.4% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 4,762 shares of the company’s stock after acquiring an additional 1,025 shares during the quarter. Victrix Investment Advisors’ holdings in CAVA Group were worth $401,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Jennison Associates LLC raised its position in CAVA Group by 246.1% during the 1st quarter. Jennison Associates LLC now owns 8,519,459 shares of the company’s stock valued at $736,166,000 after purchasing an additional 6,057,727 shares in the last quarter. Price T Rowe Associates Inc. MD raised its position 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 valued at $206,915,000 after purchasing an additional 1,277,912 shares in the last quarter. Vanguard Group Inc. raised its position 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 in the last quarter. Nuveen LLC bought a new stake in CAVA Group during the 1st quarter valued at $72,800,000. Finally, Alliancebernstein L.P. raised its position in CAVA Group by 2,072.1% during the 1st quarter. Alliancebernstein L.P. now owns 852,691 shares of the company’s stock valued at $73,681,000 after purchasing an additional 813,434 shares in the last quarter. Hedge funds and other institutional investors own 73.15% of the company’s stock.

Wall Street Analyst Weigh In

CAVA has been the subject of a number of research analyst reports. Cfra Research raised CAVA Group to a “strong-buy” rating in a research report on Thursday, August 14th. Stifel Nicolaus decreased their target price on CAVA Group from $175.00 to $125.00 and set a “buy” rating for the company in a research report on Wednesday, June 18th. JPMorgan Chase & Co. decreased their target price on CAVA Group from $115.00 to $95.00 and set an “overweight” rating for the company in a research report on Wednesday, June 25th. Barclays decreased their target price on CAVA Group from $91.00 to $74.00 and set an “equal weight” rating for the company in a research report on Wednesday, August 13th. Finally, KeyCorp decreased their target price on CAVA Group from $100.00 to $85.00 and set an “overweight” rating for the company in a research report on Wednesday, August 13th. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and seven have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $96.41.

CAVA Group Trading Up 2.8%

Shares of NYSE:CAVA opened at $60.43 on Wednesday. CAVA Group, Inc. has a 12-month low of $58.33 and a 12-month high of $172.43. The business’s fifty day simple moving average is $72.08 and its 200-day simple moving average is $80.86. The company has a market capitalization of $7.01 billion, a PE ratio of 50.78, a P/E/G ratio of 2.94 and a beta of 2.61.

CAVA Group (NYSE:CAVA) last announced its earnings results on Tuesday, August 12th. The company reported $0.16 earnings per share for the quarter, topping the consensus estimate of $0.13 by $0.03. The firm 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 firm’s revenue for the quarter was up 20.2% on a year-over-year basis. During the same period in the previous year, the business earned $0.17 EPS. Research analysts predict that CAVA Group, Inc. will post 0.5 EPS for the current year.

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.