Diversified Trust Co Grows Stock Position in CAVA Group, Inc. $CAVA

Key Points

• Diversified Trust Co significantly increased its stake in CAVA Group, Inc. by 106.9% in Q2, owning a total of 7,742 shares valued at $652,000.
• CAVA Group reported $0.16 earnings per share for the last quarter, surpassing expectations, while total revenue grew 20.2% year-over-year.
• Equity analysts have set a consensus target price of $96.41 for CAVA Group, with mixed ratings that range from "Strong Buy" to "Hold."

Diversified Trust Co boosted its position in CAVA Group, Inc. (NYSE:CAVA - Free Report) by 106.9% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 7,742 shares of the company's stock after buying an additional 4,000 shares during the quarter. Diversified Trust Co's holdings in CAVA Group were worth $652,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently made changes to their positions in the company. First Horizon Advisors Inc. grew its position in shares of CAVA Group by 1,400.0% in the first quarter. First Horizon Advisors Inc. now owns 285 shares of the company's stock valued at $25,000 after purchasing an additional 266 shares in the last quarter. Vision Financial Markets LLC purchased a new position in shares of CAVA Group in the first quarter valued at $26,000. Dagco Inc. purchased a new position in shares of CAVA Group in the first quarter valued at $27,000. Versant Capital Management Inc purchased a new position in shares of CAVA Group in the first quarter valued at $31,000. Finally, Brooklyn Investment Group grew its position in CAVA Group by 168.0% during the first quarter. Brooklyn Investment Group now owns 402 shares of the company's stock worth $35,000 after buying an additional 252 shares in the last quarter. 73.15% of the stock is currently owned by hedge funds and other institutional investors.

CAVA Group Stock Performance

Shares of NYSE:CAVA opened at $65.47 on Tuesday. CAVA Group, Inc. has a 52-week low of $61.90 and a 52-week high of $172.43. The firm has a market capitalization of $7.59 billion, a P/E ratio of 55.02, a P/E/G ratio of 3.18 and a beta of 2.62. The stock has a 50 day moving average price of $75.20 and a 200-day moving average price of $81.57.

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 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 firm had revenue of $280.62 million during the quarter, compared to analyst estimates of $285.65 million. During the same quarter in the prior year, the company earned $0.17 EPS. The business's revenue was up 20.2% compared to the same quarter last year. On average, equities analysts forecast that CAVA Group, Inc. will post 0.5 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts recently commented on CAVA shares. Robert W. Baird set a $95.00 target price on CAVA Group in a research report on Wednesday, August 13th. Bank of America reduced their target price on CAVA Group from $121.00 to $100.00 and set a "buy" rating for the company in a research report on Wednesday, August 13th. Piper Sandler reduced their target price on CAVA Group from $122.00 to $100.00 and set an "overweight" rating for the company in a research report on Wednesday, August 13th. Barclays reduced their target price on CAVA Group from $91.00 to $74.00 and set an "equal weight" rating for the company in a research report on Wednesday, August 13th. Finally, Citigroup reduced their target price on CAVA Group from $102.00 to $88.00 and set a "neutral" rating for the company in a research report on Wednesday, August 13th. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and seven have given a Hold rating to the stock. Based on data from MarketBeat.com, CAVA Group has a consensus rating of "Moderate Buy" and a consensus target price of $96.41.

CAVA Group 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.

Want to see what other hedge funds are holding CAVA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for CAVA Group, Inc. (NYSE:CAVA - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.