AXQ Capital LP Increases Stock Position in CAVA Group, Inc. $CAVA

AXQ Capital LP raised its stake in shares of CAVA Group, Inc. (NYSE:CAVA) by 219.9% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 11,120 shares of the company’s stock after purchasing an additional 7,644 shares during the period. AXQ Capital LP’s holdings in CAVA Group were worth $937,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently made changes to their positions in the company. Vision Financial Markets LLC bought a new position in CAVA Group during the first quarter valued at approximately $26,000. Dagco Inc. purchased a new stake in shares of CAVA Group during the 1st quarter worth approximately $27,000. Atlantic Union Bankshares Corp purchased a new stake in shares of CAVA Group during the 2nd quarter worth approximately $31,000. Brooklyn Investment Group boosted its position in shares of CAVA Group by 168.0% during the 1st quarter. Brooklyn Investment Group now owns 402 shares of the company’s stock valued at $35,000 after acquiring an additional 252 shares during the last quarter. Finally, Fifth Third Bancorp purchased a new position in shares of CAVA Group in the second quarter valued at $38,000. 73.15% of the stock is owned by institutional investors.

CAVA Group Trading Up 12.3%

CAVA stock opened at $48.97 on Friday. The stock has a market cap of $5.68 billion, a PE ratio of 42.22, a P/E/G ratio of 2.47 and a beta of 2.47. CAVA Group, Inc. has a 12 month low of $43.41 and a 12 month high of $153.34. The company has a 50-day moving average price of $58.23 and a 200 day moving average price of $72.94.

CAVA Group (NYSE:CAVA) last announced its quarterly earnings data on Tuesday, November 4th. The company reported $0.12 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.13 by ($0.01). CAVA Group had a return on equity of 8.88% and a net margin of 12.14%.The firm had revenue of $292.24 million during the quarter, compared to the consensus estimate of $292.88 million. During the same period in the previous year, the business earned $0.15 EPS. The firm’s revenue for the quarter was up 19.9% on a year-over-year basis. Sell-side analysts forecast that CAVA Group, Inc. will post 0.5 EPS for the current year.

Analysts Set New Price Targets

A number of research firms recently issued reports on CAVA. Morgan Stanley set a $86.00 price target on shares of CAVA Group in a research note on Wednesday, November 5th. The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $68.00 price target on shares of CAVA Group in a report on Wednesday, November 5th. Robert W. Baird set a $95.00 price target on CAVA Group in a research report on Wednesday, August 13th. KeyCorp reduced their price objective on CAVA Group from $85.00 to $65.00 and set an “overweight” rating on the stock in a research note on Wednesday, November 5th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of CAVA Group in a research note on Wednesday, October 8th. One analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and nine have given a Hold rating to the stock. According to data from MarketBeat.com, CAVA Group presently has a consensus rating of “Moderate Buy” and an average target price of $81.75.

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.