KLP Kapitalforvaltning AS Raises Stake in CAVA Group, Inc. $CAVA

KLP Kapitalforvaltning AS lifted its position in shares of CAVA Group, Inc. (NYSE:CAVA) by 5.0% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 18,800 shares of the company’s stock after buying an additional 900 shares during the quarter. KLP Kapitalforvaltning AS’s holdings in CAVA Group were worth $1,584,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in CAVA. Bison Wealth LLC acquired a new position in shares of CAVA Group during the 4th quarter worth $208,000. GAMMA Investing LLC raised its stake in shares of CAVA Group by 102.4% during the 1st quarter. GAMMA Investing LLC now owns 854 shares of the company’s stock worth $74,000 after buying an additional 432 shares during the last quarter. Janney Montgomery Scott LLC raised its stake in shares of CAVA Group by 75.0% during the 1st quarter. Janney Montgomery Scott LLC now owns 47,405 shares of the company’s stock worth $4,096,000 after buying an additional 20,312 shares during the last quarter. Sowell Financial Services LLC acquired a new position in shares of CAVA Group during the 1st quarter worth $679,000. Finally, Kingswood Wealth Advisors LLC raised its stake in shares of CAVA Group by 54.3% during the 1st quarter. Kingswood Wealth Advisors LLC now owns 3,559 shares of the company’s stock worth $308,000 after buying an additional 1,253 shares during the last quarter. Institutional investors and hedge funds own 73.15% of the company’s stock.

CAVA Group Price Performance

NYSE CAVA opened at $63.30 on Tuesday. CAVA Group, Inc. has a 12 month low of $58.33 and a 12 month high of $172.43. The company has a 50-day moving average of $67.62 and a 200-day moving average of $79.48. The company has a market cap of $7.34 billion, a P/E ratio of 53.20, a P/E/G ratio of 3.14 and a beta of 2.50.

CAVA Group (NYSE:CAVA) last issued its earnings results on Tuesday, August 12th. The company reported $0.16 earnings per share (EPS) for the quarter, topping 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 business had revenue of $280.62 million during the quarter, compared to analysts’ expectations of $285.65 million. During the same quarter in the previous year, the business earned $0.17 EPS. The company’s revenue for the quarter was up 20.2% on a year-over-year basis. As a group, equities research analysts anticipate that CAVA Group, Inc. will post 0.5 EPS for the current year.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the company. Robert W. Baird set a $95.00 price target on CAVA Group in a research note on Wednesday, August 13th. Argus set a $76.00 target price on shares of CAVA Group in a research note on Tuesday, September 2nd. Morgan Stanley cut their target price 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. Melius started coverage on shares of CAVA Group in a research note on Monday, July 14th. They issued a “hold” rating and a $95.00 target price for the company. Finally, Wall Street Zen downgraded shares of CAVA Group from a “hold” rating to a “sell” rating in a research note on Friday, June 27th. One investment analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and eight have issued a Hold rating to the company. According to data from MarketBeat.com, CAVA Group currently has an average rating of “Moderate Buy” and a consensus price target of $95.50.

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.