Farther Finance Advisors LLC Raises Position in CAVA Group, Inc. $CAVA

Farther Finance Advisors LLC raised its holdings in shares of CAVA Group, Inc. (NYSE:CAVA) by 44.7% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 3,141 shares of the company’s stock after purchasing an additional 970 shares during the period. Farther Finance Advisors LLC’s holdings in CAVA Group were worth $265,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. First Horizon Advisors Inc. increased its position in shares of CAVA Group by 1,400.0% during the first quarter. First Horizon Advisors Inc. now owns 285 shares of the company’s stock valued at $25,000 after acquiring an additional 266 shares in the last quarter. Vision Financial Markets LLC bought a new stake in CAVA Group in the 1st quarter worth approximately $26,000. Dagco Inc. bought a new stake in CAVA Group in the 1st quarter worth approximately $27,000. Versant Capital Management Inc bought a new stake in CAVA Group in the 1st quarter worth approximately $31,000. Finally, Brooklyn Investment Group boosted its stake in shares of CAVA Group by 168.0% during the 1st quarter. Brooklyn Investment Group now owns 402 shares of the company’s stock worth $35,000 after acquiring an additional 252 shares during the last quarter. Institutional investors own 73.15% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on CAVA. Sanford C. Bernstein set a $74.00 price target on shares of CAVA Group in a research note on Wednesday, August 13th. JPMorgan Chase & Co. reduced their price target on shares of CAVA Group from $115.00 to $95.00 and set an “overweight” rating on the stock in a report on Wednesday, June 25th. UBS Group reduced their price target on shares of CAVA Group from $96.00 to $75.00 and set a “neutral” rating on the stock in a report 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 on the stock in a report on Wednesday, August 13th. Finally, Stifel Nicolaus reduced their price target on shares of CAVA Group from $175.00 to $125.00 and set a “buy” rating on the stock in a report on Wednesday, June 18th. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and seven have assigned a Hold rating to the company. According to data from MarketBeat, CAVA Group 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. The company has a market capitalization of $7.01 billion, a price-to-earnings ratio of 50.78, a PEG ratio of 2.94 and a beta of 2.61. CAVA Group, Inc. has a 12 month low of $58.33 and a 12 month high of $172.43. The firm’s 50-day moving average is $72.08 and its 200 day moving average is $80.86.

CAVA Group (NYSE:CAVA) last released its quarterly earnings data 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. The company had revenue of $280.62 million during the quarter, compared to analysts’ expectations of $285.65 million. CAVA Group had a net margin of 12.98% and a return on equity of 9.83%. The firm’s quarterly revenue was up 20.2% on a year-over-year basis. During the same period in the previous year, the company earned $0.17 EPS. As a group, equities analysts forecast 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.