State of Alaska Department of Revenue Cuts Stock Holdings in CAVA Group, Inc. $CAVA

State of Alaska Department of Revenue lowered its stake in shares of CAVA Group, Inc. (NYSE:CAVA) by 3.0% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 9,240 shares of the company’s stock after selling 285 shares during the period. State of Alaska Department of Revenue’s holdings in CAVA Group were worth $778,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of CAVA. Bison Wealth LLC purchased a new position in CAVA Group during the fourth quarter worth approximately $208,000. GAMMA Investing LLC raised its stake in CAVA Group by 17,386.7% during the first quarter. GAMMA Investing LLC now owns 73,794 shares of the company’s stock worth $6,377,000 after purchasing an additional 73,372 shares during the period. Congress Asset Management Co. purchased a new position in CAVA Group during the first quarter worth approximately $212,000. Miracle Mile Advisors LLC raised its stake in CAVA Group by 1.9% during the first quarter. Miracle Mile Advisors LLC now owns 8,247 shares of the company’s stock worth $713,000 after purchasing an additional 150 shares during the period. Finally, McDonough Capital Management Inc purchased a new position in CAVA Group during the first quarter worth approximately $240,000. Hedge funds and other institutional investors own 73.15% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on CAVA. Cfra Research raised shares of CAVA Group to a “strong-buy” rating in a research note on Thursday, August 14th. Robert W. Baird set a $95.00 price objective on shares of CAVA Group in a research report on Wednesday, August 13th. Weiss Ratings reissued a “hold (c)” rating on shares of CAVA Group in a research report on Saturday, September 27th. Wall Street Zen lowered shares of CAVA Group from a “hold” rating to a “sell” rating in a research report on Friday, June 27th. Finally, UBS Group dropped their price objective on shares of CAVA Group from $96.00 to $75.00 and set a “neutral” rating for the company in a research report on Wednesday, August 13th. One equities research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and eight have given a Hold rating to the company’s stock. According to MarketBeat, CAVA Group presently has an average rating of “Moderate Buy” and a consensus price target of $96.41.

CAVA Group Price Performance

Shares of CAVA stock opened at $63.87 on Tuesday. The firm has a market cap of $7.41 billion, a P/E ratio of 53.67, a P/E/G ratio of 3.18 and a beta of 2.50. CAVA Group, Inc. has a 1-year low of $58.33 and a 1-year high of $172.43. The firm has a fifty day moving average of $70.04 and a two-hundred day moving average of $80.36.

CAVA Group (NYSE:CAVA) last announced its quarterly earnings data 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 company had revenue of $280.62 million during the quarter, compared to analyst estimates of $285.65 million. CAVA Group had a net margin of 12.98% and a return on equity of 9.83%. The firm’s revenue for the quarter was up 20.2% compared to the same quarter last year. During the same period last year, the business earned $0.17 EPS. On average, sell-side analysts expect that CAVA Group, Inc. will post 0.5 EPS for the current 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.