Blair William & Co. IL Has $2.59 Million Stake in CAVA Group, Inc. $CAVA

Key Points

• Blair William & Co. IL reduced its stake in CAVA Group by 71.2% during the second quarter, now holding 30,752 shares worth $2.59 million.
• Institutional investors now own 73.15% of CAVA Group, with Vanguard Group significantly increasing its holdings by 13.2% in the first quarter.
• CAVA Group's stock recently increased by 2.3% and has a market capitalization of $7.51 billion, with analysts projecting an average price target of $95.50.

Blair William & Co. IL decreased its holdings in CAVA Group, Inc. (NYSE:CAVA - Free Report) by 71.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 30,752 shares of the company's stock after selling 76,118 shares during the period. Blair William & Co. IL's holdings in CAVA Group were worth $2,590,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in the business. Vanguard Group Inc. increased its holdings in CAVA Group by 13.2% in the first quarter. Vanguard Group Inc. now owns 9,065,782 shares of the company's stock worth $783,374,000 after buying an additional 1,054,180 shares during the last quarter. Jennison Associates LLC increased its holdings in CAVA Group by 246.1% in the first quarter. Jennison Associates LLC now owns 8,519,459 shares of the company's stock worth $736,166,000 after buying an additional 6,057,727 shares during the last quarter. Price T Rowe Associates Inc. MD increased its holdings in CAVA Group by 114.4% in the first quarter. Price T Rowe Associates Inc. MD now owns 2,394,561 shares of the company's stock worth $206,915,000 after buying an additional 1,277,912 shares during the last quarter. Alliancebernstein L.P. grew its holdings in CAVA Group by 2,072.1% during the first quarter. Alliancebernstein L.P. now owns 852,691 shares of the company's stock valued at $73,681,000 after purchasing an additional 813,434 shares during the last quarter. Finally, Nuveen LLC acquired a new position in CAVA Group during the first quarter valued at approximately $72,800,000. Institutional investors and hedge funds own 73.15% of the company's stock.

CAVA Group Stock Up 2.3%

NYSE:CAVA opened at $64.77 on Wednesday. The firm has a market capitalization of $7.51 billion, a price-to-earnings ratio of 54.43, a price-to-earnings-growth ratio of 3.20 and a beta of 2.50. CAVA Group, Inc. has a twelve month low of $58.33 and a twelve month high of $172.43. The stock's 50 day moving average price is $67.16 and its two-hundred day moving average price is $79.38.

CAVA Group (NYSE:CAVA - Get Free Report) last posted its quarterly earnings results on Tuesday, August 12th. The company reported $0.16 earnings per share for the quarter, topping the consensus estimate 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 return on equity of 9.83% and a net margin of 12.98%.The business's quarterly revenue was up 20.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.17 EPS. As a group, analysts anticipate that CAVA Group, Inc. will post 0.5 earnings per share for the current year.

Analysts Set New Price Targets

CAVA has been the topic of several analyst reports. Cfra Research upgraded CAVA Group to a "strong-buy" rating in a report on Thursday, August 14th. Sanford C. Bernstein set a $74.00 price target on CAVA Group in a report on Wednesday, August 13th. Weiss Ratings reiterated a "hold (c)" rating on shares of CAVA Group in a report on Wednesday, October 8th. Argus set a $76.00 price target on CAVA Group in a report on Tuesday, September 2nd. Finally, Melius initiated coverage on CAVA Group in a report on Monday, July 14th. They set a "hold" rating and a $95.00 price target on the stock. One equities research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and eight have issued a Hold rating to the stock. According to data from MarketBeat.com, CAVA Group has an average rating of "Moderate Buy" and an average price target of $95.50.

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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