Jackson Square Capital LLC Trims Stock Holdings in CAVA Group, Inc. $CAVA

Key Points

• Jackson Square Capital LLC reduced its stake in CAVA Group, Inc. by 86.6%, selling 21,645 shares and leaving it with just 3,351 shares valued at $282,000.
• Multiple analysts adjusted their target prices for CAVA Group, with updates including a drop from $102 to $88 by Citigroup, while Stifel Nicolaus still maintained a buy rating with a target of $125.
• CAVA Group reported earnings of $0.16 per share for the latest quarter, surpassing expectations, while revenue reached $280.62 million, slightly below analyst predictions of $285.65 million.

Jackson Square Capital LLC lowered its position in CAVA Group, Inc. (NYSE:CAVA - Free Report) by 86.6% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 3,351 shares of the company's stock after selling 21,645 shares during the period. Jackson Square Capital LLC's holdings in CAVA Group were worth $282,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently bought and sold shares of CAVA. First Horizon Advisors Inc. boosted its position in 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 buying an additional 266 shares during the last quarter. Vision Financial Markets LLC acquired a new position in shares of CAVA Group during the 1st quarter worth approximately $26,000. Dagco Inc. acquired a new position in shares of CAVA Group during the 1st quarter worth approximately $27,000. Versant Capital Management Inc acquired a new position in CAVA Group in the 1st quarter valued at $31,000. Finally, Brooklyn Investment Group raised its stake in CAVA Group by 168.0% in the 1st quarter. Brooklyn Investment Group now owns 402 shares of the company's stock valued at $35,000 after purchasing an additional 252 shares during the last quarter. Hedge funds and other institutional investors own 73.15% of the company's stock.

CAVA Group Trading Up 0.1%

NYSE:CAVA traded up $0.09 on Friday, hitting $63.65. 6,602,224 shares of the stock were exchanged, compared to its average volume of 3,470,031. The stock has a market cap of $7.38 billion, a PE ratio of 53.49, a PEG ratio of 3.18 and a beta of 2.61. The stock has a fifty day moving average of $75.69 and a 200-day moving average of $81.71. CAVA Group, Inc. has a fifty-two week low of $61.90 and a fifty-two week high of $172.43.

CAVA Group (NYSE:CAVA - Get Free Report) last announced its quarterly earnings results on Tuesday, August 12th. The company reported $0.16 EPS for the quarter, topping the consensus estimate of $0.13 by $0.03. The company had revenue of $280.62 million during 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 firm's revenue was up 20.2% on a year-over-year basis. During the same period in the prior year, the firm posted $0.17 earnings per share. As a group, analysts predict that CAVA Group, Inc. will post 0.5 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on CAVA. Wall Street Zen downgraded CAVA Group from a "hold" rating to a "sell" rating in a research note on Friday, June 27th. Argus set a $76.00 target price on CAVA Group in a report on Tuesday, September 2nd. Robert W. Baird set a $95.00 price objective on CAVA Group in a research note on Wednesday, August 13th. 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. Finally, Barclays decreased their price objective on CAVA Group from $91.00 to $74.00 and set an "equal weight" rating for the company in a research note on Wednesday, August 13th. One equities research 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. According to MarketBeat.com, CAVA Group has a consensus rating of "Moderate Buy" and an average price target 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.