DekaBank Deutsche Girozentrale Purchases Shares of 2,055 CAVA Group, Inc. $CAVA

DekaBank Deutsche Girozentrale purchased a new stake in shares of CAVA Group, Inc. (NYSE:CAVA) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 2,055 shares of the company’s stock, valued at approximately $160,000.

A number of other large investors have also made changes to their positions in the company. Jennison Associates LLC grew its stake in shares of 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 acquiring an additional 6,057,727 shares during the period. Price T Rowe Associates Inc. MD grew its stake in shares of 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 acquiring an additional 1,277,912 shares during the period. Vanguard Group Inc. grew its stake in shares of 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 acquiring an additional 1,054,180 shares during the period. Nuveen LLC bought a new position in shares of CAVA Group during the 1st quarter valued at approximately $72,800,000. Finally, Alliancebernstein L.P. grew its stake in shares of 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 acquiring an additional 813,434 shares during the period. 73.15% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts recently issued reports on CAVA shares. Argus set a $76.00 price objective on CAVA Group in a research note on Tuesday, September 2nd. UBS Group cut their price objective on CAVA Group from $96.00 to $75.00 and set a “neutral” rating for the company in a research note on Wednesday, August 13th. Robert W. Baird set a $95.00 price objective on CAVA Group in a research note on Wednesday, August 13th. Royal Bank Of Canada started coverage on CAVA Group in a research note on Wednesday, October 8th. They issued an “outperform” rating and a $80.00 price target for the company. Finally, Bank of America dropped their price target on CAVA Group from $121.00 to $100.00 and set a “buy” rating for the company in a research note on Wednesday, August 13th. One analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and nine have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $92.30.

CAVA Group Price Performance

CAVA stock opened at $62.97 on Tuesday. CAVA Group, Inc. has a 1-year low of $58.33 and a 1-year high of $172.43. The company has a market capitalization of $7.30 billion, a price-to-earnings ratio of 52.92, a PEG ratio of 3.25 and a beta of 2.50. The business has a 50 day simple moving average of $64.49 and a two-hundred day simple moving average of $78.04.

CAVA Group (NYSE:CAVA) last issued its quarterly earnings data on Tuesday, August 12th. The company reported $0.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.13 by $0.03. The business had revenue of $280.62 million for the quarter, compared to analysts’ expectations of $285.65 million. CAVA Group had a return on equity of 9.83% and a net margin of 12.98%.The company’s revenue for the quarter was up 20.2% on a year-over-year basis. During the same period in the prior year, the firm earned $0.17 EPS. Sell-side analysts anticipate 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.