Artisan Partners Limited Partnership Buys New Position in CAVA Group, Inc. $CAVA

Artisan Partners Limited Partnership bought a new position in shares of CAVA Group, Inc. (NYSE:CAVA) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 165,462 shares of the company’s stock, valued at approximately $13,937,000. Artisan Partners Limited Partnership owned 0.14% of CAVA Group at the end of the most recent quarter.

Several other institutional investors also recently made changes to their positions in CAVA. Maryland State Retirement & Pension System raised its holdings in shares of CAVA Group by 37.5% in the 2nd quarter. Maryland State Retirement & Pension System now owns 4,850 shares of the company’s stock worth $409,000 after acquiring an additional 1,324 shares during the last quarter. PNC Financial Services Group Inc. raised its holdings 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 acquiring an additional 3,015 shares during the period. Y Intercept Hong Kong Ltd boosted its stake in CAVA Group by 271.7% in the 2nd quarter. Y Intercept Hong Kong Ltd now owns 23,659 shares of the company’s stock worth $1,993,000 after purchasing an additional 17,294 shares during the period. Hantz Financial Services Inc. increased its holdings in CAVA Group by 1,846,775.0% during the 2nd quarter. Hantz Financial Services Inc. now owns 73,875 shares of the company’s stock worth $6,222,000 after acquiring an additional 73,871 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its stake in CAVA Group by 5.1% during the first quarter. Charles Schwab Investment Management Inc. now owns 554,934 shares of the company’s stock valued at $47,952,000 after buying an additional 27,066 shares during the period. 73.15% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on CAVA shares. 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. Mizuho raised CAVA Group to a “hold” rating in a report on Tuesday, October 28th. The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $68.00 target price on shares of CAVA Group in a research note on Wednesday, November 5th. TD Cowen decreased their price target on shares of CAVA Group from $80.00 to $67.00 and set a “buy” rating on the stock in a research note on Wednesday, November 5th. Finally, Piper Sandler lowered their price objective on shares of CAVA Group from $100.00 to $71.00 and set an “overweight” rating for the company in a report on Wednesday, November 5th. One analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and nine have given a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $81.75.

CAVA Group Stock Up 12.3%

Shares of NYSE CAVA opened at $48.97 on Friday. The firm has a market cap of $5.68 billion, a P/E ratio of 42.22, a PEG ratio of 2.47 and a beta of 2.47. The company has a 50 day moving average of $58.23 and a 200 day moving average of $72.94. CAVA Group, Inc. has a twelve month low of $43.41 and a twelve month high of $153.34.

CAVA Group (NYSE:CAVA) last released its earnings results on Tuesday, November 4th. The company reported $0.12 earnings per share for the quarter, missing the consensus estimate of $0.13 by ($0.01). The company had revenue of $292.24 million for the quarter, compared to analysts’ expectations of $292.88 million. CAVA Group had a net margin of 12.14% and a return on equity of 8.88%. CAVA Group’s revenue for the quarter was up 19.9% on a year-over-year basis. During the same quarter last year, the firm posted $0.15 earnings per share. As a group, equities analysts expect that CAVA Group, Inc. will post 0.5 earnings per share 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.