Vanguard Group Inc. Has $541.20 Million Stock Position in CAVA Group, Inc. $CAVA

Vanguard Group Inc. reduced its stake in CAVA Group, Inc. (NYSE:CAVA) by 1.3% during the fourth quarter, Holdings Channel.com reports. The fund owned 9,221,272 shares of the company’s stock after selling 124,704 shares during the period. Vanguard Group Inc. owned approximately 0.08% of CAVA Group worth $541,196,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in CAVA. Cornerstone Planning Group LLC lifted its stake in CAVA Group by 378.7% in the third quarter. Cornerstone Planning Group LLC now owns 450 shares of the company’s stock valued at $27,000 after buying an additional 356 shares during the period. Harbor Investment Advisory LLC lifted its stake in CAVA Group by 347.8% in the fourth quarter. Harbor Investment Advisory LLC now owns 515 shares of the company’s stock valued at $30,000 after buying an additional 400 shares during the period. CNB Bank lifted its stake in CAVA Group by 275.8% in the third quarter. CNB Bank now owns 575 shares of the company’s stock valued at $35,000 after buying an additional 422 shares during the period. Strategic Investment Solutions Inc. IL acquired a new position in CAVA Group in the third quarter valued at approximately $36,000. Finally, National Bank of Canada FI lifted its stake in CAVA Group by 195.1% in the third quarter. National Bank of Canada FI now owns 717 shares of the company’s stock valued at $43,000 after buying an additional 474 shares during the period. 73.15% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

CAVA has been the topic of several recent analyst reports. Mizuho boosted their price target on CAVA Group from $72.00 to $80.00 and gave the company a “neutral” rating in a research note on Thursday, April 2nd. DA Davidson initiated coverage on CAVA Group in a research note on Friday, March 6th. They issued a “neutral” rating and a $80.00 price target on the stock. BNP Paribas Exane initiated coverage on CAVA Group in a research note on Monday, March 30th. They issued a “neutral” rating and a $91.00 price target on the stock. Morgan Stanley boosted their price target on CAVA Group from $83.00 to $85.00 and gave the company an “equal weight” rating in a research note on Tuesday, April 21st. Finally, Barclays boosted their price target on CAVA Group from $52.00 to $70.00 and gave the company an “equal weight” rating in a research note on Wednesday, January 7th. One research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating, eleven have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, CAVA Group currently has an average rating of “Moderate Buy” and a consensus target price of $89.70.

CAVA Group Stock Down 2.1%

NYSE CAVA opened at $89.11 on Tuesday. The company has a market cap of $10.37 billion, a price-to-earnings ratio of 165.03, a P/E/G ratio of 6.48 and a beta of 1.90. CAVA Group, Inc. has a 52 week low of $43.41 and a 52 week high of $101.50. The business has a 50 day moving average price of $84.33 and a 200-day moving average price of $67.95.

CAVA Group (NYSE:CAVA) last released its quarterly earnings data on Tuesday, February 24th. The company reported $0.04 EPS for the quarter, beating the consensus estimate of $0.03 by $0.01. The firm had revenue of $274.99 million during the quarter, compared to the consensus estimate of $268.04 million. CAVA Group had a return on equity of 8.43% and a net margin of 5.40%.The company’s quarterly revenue was up 20.9% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.05 earnings per share. On average, equities research analysts anticipate that CAVA Group, Inc. will post 0.52 earnings per share for the current year.

About CAVA Group

CAVA Group, Inc (NYSE: CAVA) is a leading fast-casual restaurant company specializing in Mediterranean-inspired cuisine. Operating under the CAVA brand, the company offers customizable bowls, pitas and salads built around a variety of proteins, grains, fresh vegetables and house-made spreads. With a focus on high-quality ingredients and made-to-order preparation, CAVA aims to deliver a casual yet elevated dining experience for dine-in, takeout and catering customers.

Founded in 2011 in the Washington, DC metro area by Ike Grigoropoulos, Dimitri Katsanis and Brett Schulman, CAVA has pursued an aggressive growth strategy that included the 2018 acquisition of Zoe’s Kitchen.