Armstrong Fleming & Moore Inc Purchases New Holdings in CAVA Group, Inc. $CAVA

Key Points

• Armstrong Fleming & Moore Inc has acquired 359,652 shares of CAVA Group, making it the firm's largest holding, which constitutes 16.4% of its portfolio.
• CAVA Group's shares recently opened at $63.16, with a market cap of $7.32 billion and a P/E ratio of 53.08.
• The company reported a 20.2% increase in revenue year-over-year, reaching $280.62 million for the quarter, and exceeded earnings per share estimates by $0.03.

Armstrong Fleming & Moore Inc acquired a new position in shares of CAVA Group, Inc. (NYSE:CAVA - Free Report) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 359,652 shares of the company's stock, valued at approximately $30,293,000. CAVA Group comprises 16.4% of Armstrong Fleming & Moore Inc's portfolio, making the stock its largest holding. Armstrong Fleming & Moore Inc owned 0.31% of CAVA Group at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of CAVA. First Horizon Advisors Inc. grew its holdings in CAVA Group by 1,400.0% during the 1st quarter. First Horizon Advisors Inc. now owns 285 shares of the company's stock worth $25,000 after acquiring an additional 266 shares during the period. Vision Financial Markets LLC purchased a new stake in shares of CAVA Group in the 1st quarter valued at about $26,000. Dagco Inc. purchased a new stake in CAVA Group in the first quarter worth approximately $27,000. Brooklyn Investment Group boosted its position in 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 buying an additional 252 shares during the period. Finally, Fifth Third Bancorp purchased a new position in shares of CAVA Group during the 2nd quarter worth approximately $38,000. Institutional investors and hedge funds own 73.15% of the company's stock.

Analyst Ratings Changes

CAVA has been the topic of several research analyst reports. Weiss Ratings reissued a "hold (c)" rating on shares of CAVA Group in a report on Wednesday. Stifel Nicolaus lowered their price objective on shares of CAVA Group from $175.00 to $125.00 and set a "buy" rating for the company in a research report on Wednesday, June 18th. Citigroup decreased their target price on shares of CAVA Group from $102.00 to $88.00 and set a "neutral" rating for the company in a research report on Wednesday, August 13th. Wall Street Zen lowered shares of CAVA Group from a "hold" rating to a "sell" rating in a research report on Friday, June 27th. Finally, Royal Bank Of Canada set a $80.00 price target on CAVA Group in a report on Wednesday. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and eight have given a Hold rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $95.50.

CAVA Group Stock Performance

Shares of CAVA stock opened at $63.16 on Thursday. The stock has a fifty day moving average price of $69.02 and a 200 day moving average price of $80.11. CAVA Group, Inc. has a 1 year low of $58.33 and a 1 year high of $172.43. The stock has a market cap of $7.32 billion, a PE ratio of 53.08, a P/E/G ratio of 3.08 and a beta of 2.50.

CAVA Group (NYSE:CAVA - Get Free Report) last announced its earnings results on Tuesday, August 12th. The company reported $0.16 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.13 by $0.03. The firm had revenue of $280.62 million for the quarter, compared to analyst estimates of $285.65 million. CAVA Group had a net margin of 12.98% and a return on equity of 9.83%. CAVA Group's revenue was up 20.2% compared to the same quarter last year. During the same quarter last year, the business earned $0.17 earnings per share. As a group, equities research analysts predict that CAVA Group, Inc. will post 0.5 earnings per share for the current 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.

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