CAVA Group, Inc. $CAVA Shares Bought by AlphaQuest LLC

AlphaQuest LLC grew its position in CAVA Group, Inc. (NYSE:CAVA) by 58.8% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,053 shares of the company’s stock after purchasing an additional 1,131 shares during the quarter. AlphaQuest LLC’s holdings in CAVA Group were worth $257,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of CAVA. Draper Asset Management LLC purchased a new position in CAVA Group in the second quarter valued at $390,000. Strategic Blueprint LLC lifted its holdings in CAVA Group by 9.4% during the 2nd quarter. Strategic Blueprint LLC now owns 6,956 shares of the company’s stock worth $586,000 after buying an additional 596 shares during the last quarter. FNY Investment Advisers LLC boosted its position in shares of CAVA Group by 70.0% during the 2nd quarter. FNY Investment Advisers LLC now owns 3,343 shares of the company’s stock worth $281,000 after acquiring an additional 1,376 shares in the last quarter. Chokshi & Queen Wealth Advisors Inc purchased a new position in shares of CAVA Group in the 2nd quarter valued at about $295,000. Finally, D.A. Davidson & CO. raised its position in shares of CAVA Group by 0.4% during the 2nd quarter. D.A. Davidson & CO. now owns 34,342 shares of the company’s stock worth $2,893,000 after acquiring an additional 153 shares in the last quarter. Institutional investors and hedge funds own 73.15% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently weighed in on CAVA. Melius started coverage on shares of CAVA Group in a research report on Monday, July 14th. They set a “hold” rating and a $95.00 price objective for the company. The Goldman Sachs Group began coverage on shares of CAVA Group in a research report on Monday, October 20th. They issued a “neutral” rating and a $74.00 target price on the stock. Mizuho raised shares of CAVA Group to a “hold” rating in a research report on Tuesday, October 28th. Barclays decreased their price objective on shares of CAVA Group from $74.00 to $64.00 and set an “equal weight” rating for the company in a research note on Wednesday, October 22nd. Finally, Sanford C. Bernstein set a $74.00 target price on CAVA Group in a research report on Wednesday, August 13th. One investment analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and ten have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $91.05.

CAVA Group Stock Up 0.2%

CAVA opened at $53.80 on Friday. CAVA Group, Inc. has a 52 week low of $52.80 and a 52 week high of $172.43. The business has a 50 day moving average price of $63.64 and a two-hundred day moving average price of $77.16. The company has a market cap of $6.24 billion, a PE ratio of 45.21, a P/E/G ratio of 3.09 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 business had revenue of $280.62 million for the quarter, compared to analyst estimates of $285.65 million. During the same quarter in the previous year, the company posted $0.17 earnings per share. The company’s revenue for the quarter was up 20.2% compared to the same quarter last year. As a group, sell-side analysts expect that CAVA Group, Inc. will post 0.5 EPS for the current fiscal 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.