CAVA Group, Inc. $CAVA Stock Holdings Lifted by Maryland State Retirement & Pension System

Maryland State Retirement & Pension System lifted its holdings in CAVA Group, Inc. (NYSE:CAVA) by 37.5% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 4,850 shares of the company’s stock after buying an additional 1,324 shares during the quarter. Maryland State Retirement & Pension System’s holdings in CAVA Group were worth $409,000 as of its most recent filing with the SEC.

A number of other large investors have also modified their holdings of the company. PNC Financial Services Group Inc. increased its stake in CAVA Group by 123.4% during the 1st quarter. PNC Financial Services Group Inc. now owns 5,458 shares of the company’s stock valued at $472,000 after buying an additional 3,015 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in shares of CAVA Group by 5.1% in the first quarter. Charles Schwab Investment Management Inc. now owns 554,934 shares of the company’s stock worth $47,952,000 after buying an additional 27,066 shares during the period. Lewis Asset Management LLC acquired a new position in shares of CAVA Group in the second quarter worth about $504,000. Diversified Trust Co boosted its holdings in shares of CAVA Group by 106.9% during the second quarter. Diversified Trust Co now owns 7,742 shares of the company’s stock worth $652,000 after purchasing an additional 4,000 shares during the period. Finally, Crossmark Global Holdings Inc. bought a new position in CAVA Group during the first quarter valued at approximately $257,000. Institutional investors and hedge funds own 73.15% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on CAVA. Melius initiated coverage on shares of CAVA Group in a research report on Monday, July 14th. They issued a “hold” rating and a $95.00 price target on the stock. JPMorgan Chase & Co. lowered their target price on CAVA Group from $115.00 to $95.00 and set an “overweight” rating for the company in a research note on Wednesday, June 25th. Morgan Stanley decreased 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 research note on Wednesday, August 13th. UBS Group decreased their price target 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. Finally, Robert W. Baird set a $95.00 price objective on CAVA Group in a report on Wednesday, August 13th. One research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and eight have given a Hold rating to the company. Based on data from MarketBeat.com, CAVA Group currently has a consensus rating of “Moderate Buy” and an average target price of $95.50.

CAVA Group Stock Performance

Shares of NYSE CAVA opened at $63.30 on Tuesday. CAVA Group, Inc. has a 52 week low of $58.33 and a 52 week high of $172.43. The stock’s fifty day moving average is $67.62 and its 200 day moving average is $79.48. The stock has a market capitalization of $7.34 billion, a P/E ratio of 53.20, a PEG ratio of 3.14 and a beta of 2.50.

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