Sovran Advisors LLC Raises Stock Holdings in CAVA Group, Inc. $CAVA

Key Points

• Sovran Advisors LLC has increased its shares in CAVA Group, Inc. by 15.5%, owning a total of 54,496 shares valued at approximately $4.77 million.
• Institutional investors and hedge funds collectively own 73.15% of CAVA Group's stock, indicating significant interest from large investors in the company.
• Recent analyst reports show a consensus rating of "Moderate Buy" for CAVA shares, with a projected price target of $96.41.

Sovran Advisors LLC increased its stake in shares of CAVA Group, Inc. (NYSE:CAVA - Free Report) by 15.5% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 54,496 shares of the company's stock after purchasing an additional 7,306 shares during the quarter. Sovran Advisors LLC's holdings in CAVA Group were worth $4,772,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. First Horizon Advisors Inc. increased its position in shares of CAVA Group by 1,400.0% during the 1st quarter. First Horizon Advisors Inc. now owns 285 shares of the company's stock valued at $25,000 after purchasing an additional 266 shares during the last quarter. Vision Financial Markets LLC bought a new stake in shares of CAVA Group in the first quarter valued at about $26,000. Dagco Inc. purchased a new stake in shares of CAVA Group in the 1st quarter worth approximately $27,000. Versant Capital Management Inc bought a new position in shares of CAVA Group during the first quarter valued at approximately $31,000. Finally, Brooklyn Investment Group boosted its stake in shares of CAVA Group by 168.0% during the first quarter. Brooklyn Investment Group now owns 402 shares of the company's stock valued at $35,000 after purchasing an additional 252 shares in the last quarter. Institutional investors own 73.15% of the company's stock.

CAVA Group Stock Performance

NYSE:CAVA traded up $0.09 during mid-day trading on Friday, hitting $63.65. 6,602,224 shares of the company's stock traded hands, compared to its average volume of 3,470,031. The company has a fifty day moving average of $75.69 and a 200 day moving average of $81.71. CAVA Group, Inc. has a twelve month low of $61.90 and a twelve month high of $172.43. The company has a market capitalization of $7.38 billion, a P/E ratio of 109.53, a P/E/G ratio of 3.18 and a beta of 2.61.

CAVA Group (NYSE:CAVA - Get Free Report) last announced its quarterly earnings data on Tuesday, August 12th. The company reported $0.16 earnings per share for the quarter, beating analysts' consensus estimates of $0.13 by $0.03. The business 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 company's revenue was up 20.2% on a year-over-year basis. During the same period in the prior year, the company earned $0.17 earnings per share. On average, research analysts expect that CAVA Group, Inc. will post 0.5 earnings per share for the current fiscal year.

Analyst Ratings Changes

CAVA has been the topic of a number of recent research reports. TD Cowen dropped their price objective on shares of CAVA Group from $120.00 to $90.00 and set a "buy" rating on the stock in a research note on Wednesday, August 13th. UBS Group decreased their price objective on CAVA Group from $96.00 to $75.00 and set a "neutral" rating for the company in a research note on Wednesday, August 13th. Robert W. Baird set a $95.00 price objective on CAVA Group in a research note on Wednesday, August 13th. KeyCorp decreased their price objective on CAVA Group from $100.00 to $85.00 and set an "overweight" rating for the company in a research note on Wednesday, August 13th. Finally, Citigroup decreased their price objective on CAVA Group from $102.00 to $88.00 and set a "neutral" rating for the company in a research note on Wednesday, August 13th. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and seven have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $96.41.

CAVA Group Company 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.