Defender Capital LLC. Buys New Shares in CAVA Group, Inc. $CAVA

Key Points

• Defender Capital LLC purchased 7,700 shares of CAVA Group, Inc. for approximately $649,000, making it the firm's 24th largest holding.
• CAVA Group reported a 20.2% year-over-year increase in revenue for the latest quarter, totaling $280.62 million, although it fell short of the forecasted $285.65 million.
• Wall Street analysts have varied ratings for CAVA Group, with one predicting a price target as high as $100 while others set their targets below $90.

Defender Capital LLC. bought a new stake in CAVA Group, Inc. (NYSE:CAVA - Free Report) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 7,700 shares of the company's stock, valued at approximately $649,000. CAVA Group comprises about 0.2% of Defender Capital LLC.'s investment portfolio, making the stock its 24th biggest holding.

Other institutional investors have also recently added to or reduced their stakes in the company. PNC Financial Services Group Inc. increased its stake in CAVA Group by 123.4% during the first quarter. PNC Financial Services Group Inc. now owns 5,458 shares of the company's stock worth $472,000 after acquiring an additional 3,015 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of CAVA Group by 5.1% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 554,934 shares of the company's stock worth $47,952,000 after purchasing an additional 27,066 shares during the period. Lewis Asset Management LLC purchased a new position in shares of CAVA Group in the 2nd quarter worth about $504,000. Diversified Trust Co raised its holdings in shares of CAVA Group by 106.9% in the 2nd quarter. Diversified Trust Co now owns 7,742 shares of the company's stock worth $652,000 after purchasing an additional 4,000 shares during the period. Finally, Crossmark Global Holdings Inc. purchased a new position in shares of CAVA Group in the 1st quarter worth about $257,000. 73.15% of the stock is currently owned by institutional investors and hedge funds.

CAVA Group Stock Performance

CAVA Group stock opened at $63.30 on Tuesday. CAVA Group, Inc. has a one year low of $58.33 and a one year high of $172.43. The stock's 50 day moving average price is $67.62 and its 200 day moving average price is $79.48. The firm has a market capitalization of $7.34 billion, a PE ratio of 53.20, a price-to-earnings-growth ratio of 3.14 and a beta of 2.50.

CAVA Group (NYSE:CAVA - Get Free Report) last posted its quarterly earnings data on Tuesday, August 12th. The company reported $0.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.13 by $0.03. CAVA Group had a return on equity of 9.83% and a net margin of 12.98%.The company had revenue of $280.62 million for the quarter, compared to the consensus estimate of $285.65 million. During the same period in the previous year, the business earned $0.17 EPS. CAVA Group's revenue for the quarter was up 20.2% compared to the same quarter last year. On average, analysts forecast that CAVA Group, Inc. will post 0.5 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the company. Piper Sandler cut their price objective on CAVA Group from $122.00 to $100.00 and set an "overweight" rating on the stock in a report on Wednesday, August 13th. Citigroup cut their price objective on CAVA Group from $102.00 to $88.00 and set a "neutral" rating on the stock in a report on Wednesday, August 13th. Wall Street Zen downgraded CAVA Group from a "hold" rating to a "sell" rating in a report on Friday, June 27th. Morgan Stanley cut their price objective on CAVA Group from $107.00 to $97.00 and set an "equal weight" rating on the stock in a report on Wednesday, August 13th. Finally, Argus set a $76.00 price target on CAVA Group in a research report on Tuesday, September 2nd. One research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and eight have given a Hold rating to the stock. According to MarketBeat.com, CAVA Group has a consensus rating of "Moderate Buy" and a consensus 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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