Dupree Financial Group LLC Raises Stock Position in CAVA Group, Inc. $CAVA

Key Points

• Dupree Financial Group LLC increased its stake in CAVA Group, Inc. by 70.4% during the second quarter, owning 34,957 shares worth approximately $2.94 million.
• A number of institutional investors, including Maryland State Retirement & Pension System and PNC Financial Services Group Inc., have also raised their positions in CAVA, with institutional ownership now at 73.15%.
• Despite positive quarterly earnings, CAVA Group's stock has seen a decrease of 0.8%, opening at $62.34, with a consensus rating of "Moderate Buy" and a target price of $94.37.

Dupree Financial Group LLC grew its position in shares of CAVA Group, Inc. (NYSE:CAVA - Free Report) by 70.4% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 34,957 shares of the company's stock after purchasing an additional 14,448 shares during the period. Dupree Financial Group LLC's holdings in CAVA Group were worth $2,944,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in CAVA. Maryland State Retirement & Pension System increased its position in shares of CAVA Group by 37.5% in the second quarter. Maryland State Retirement & Pension System now owns 4,850 shares of the company's stock worth $409,000 after purchasing an additional 1,324 shares during the last quarter. PNC Financial Services Group Inc. grew its stake in CAVA Group by 123.4% in the 1st quarter. PNC Financial Services Group Inc. now owns 5,458 shares of the company's stock worth $472,000 after buying an additional 3,015 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in 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 buying an additional 27,066 shares in the last quarter. Lewis Asset Management LLC bought a new position in shares of CAVA Group in the 2nd quarter worth $504,000. Finally, KLP Kapitalforvaltning AS raised its position in shares of CAVA Group by 5.0% during the 2nd quarter. KLP Kapitalforvaltning AS now owns 18,800 shares of the company's stock valued at $1,584,000 after buying an additional 900 shares in the last quarter. Institutional investors own 73.15% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on CAVA shares. Melius started coverage on CAVA Group in a research report on Monday, July 14th. They set a "hold" rating and a $95.00 price target on the stock. Wall Street Zen lowered CAVA Group from a "hold" rating to a "sell" rating in a research report on Friday, June 27th. Argus set a $76.00 price objective on CAVA Group in a report on Tuesday, September 2nd. Piper Sandler cut their target price on CAVA Group from $122.00 to $100.00 and set an "overweight" rating for the company in a research note on Wednesday, August 13th. Finally, JPMorgan Chase & Co. reduced their price target on shares of CAVA Group from $115.00 to $95.00 and set an "overweight" rating on the stock in a research report on Wednesday, June 25th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and nine have given a Hold rating to the stock. Based on data from MarketBeat.com, CAVA Group presently has a consensus rating of "Moderate Buy" and a consensus price target of $94.37.

CAVA Group Stock Down 0.8%

Shares of CAVA stock opened at $62.34 on Tuesday. The firm has a market capitalization of $7.23 billion, a price-to-earnings ratio of 52.39, a PEG ratio of 3.17 and a beta of 2.50. The stock has a fifty day moving average of $65.36 and a 200 day moving average of $78.74. CAVA Group, Inc. has a 52 week low of $58.33 and a 52 week high of $172.43.

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

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.

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