Leibman Financial Services Inc. Makes New Investment in CAVA Group, Inc. $CAVA

Key Points

• Leibman Financial Services Inc. has invested approximately $1.03 million in CAVA Group, purchasing 12,229 shares during the second quarter.
• Several large investors, including Vanguard Group Inc. and Jennison Associates LLC, have significantly increased their holdings in CAVA Group, indicating strong institutional interest.
• CAVA Group reported a net margin of 12.98% and a quarterly revenue of $280.62 million, reflecting a 20.2% year-over-year increase, despite slightly missing analyst revenue estimates.

Leibman Financial Services Inc. purchased a new position in shares of CAVA Group, Inc. (NYSE:CAVA - Free Report) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 12,229 shares of the company's stock, valued at approximately $1,030,000.

Other hedge funds also recently modified their holdings of the company. Whittier Trust Co. of Nevada Inc. lifted its stake in shares of CAVA Group by 37.3% in the 1st quarter. Whittier Trust Co. of Nevada Inc. now owns 530 shares of the company's stock valued at $46,000 after purchasing an additional 144 shares in the last quarter. Miracle Mile Advisors LLC lifted its stake in shares of CAVA Group by 1.9% in the 1st quarter. Miracle Mile Advisors LLC now owns 8,247 shares of the company's stock valued at $713,000 after purchasing an additional 150 shares in the last quarter. Regent Peak Wealth Advisors LLC lifted its stake in shares of CAVA Group by 6.2% in the 1st quarter. Regent Peak Wealth Advisors LLC now owns 3,166 shares of the company's stock valued at $274,000 after purchasing an additional 186 shares in the last quarter. Visionary Wealth Advisors lifted its stake in shares of CAVA Group by 11.2% in the 4th quarter. Visionary Wealth Advisors now owns 2,035 shares of the company's stock valued at $230,000 after purchasing an additional 205 shares in the last quarter. Finally, World Investment Advisors lifted its stake in shares of CAVA Group by 6.3% in the 1st quarter. World Investment Advisors now owns 3,565 shares of the company's stock valued at $308,000 after purchasing an additional 210 shares in the last quarter. 73.15% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

CAVA has been the topic of several analyst reports. Morgan Stanley dropped their target price 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. TD Cowen dropped their target price on CAVA Group from $120.00 to $90.00 and set a "buy" rating on the stock in a report on Wednesday, August 13th. Piper Sandler dropped their target price on CAVA Group from $122.00 to $100.00 and set an "overweight" rating on the stock in a report on Wednesday, August 13th. Argus set a $76.00 target price on CAVA Group in a report on Tuesday, September 2nd. Finally, Citigroup dropped their target price on CAVA Group from $102.00 to $88.00 and set a "neutral" rating on the stock in a report on Wednesday, August 13th. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and seven have issued a Hold rating to the stock. According to data from MarketBeat, CAVA Group has an average rating of "Moderate Buy" and a consensus price target of $96.41.

CAVA Group Stock Up 0.1%

CAVA stock traded up $0.09 during trading on Friday, reaching $63.65. 6,602,224 shares of the company's stock were exchanged, compared to its average volume of 3,850,387. CAVA Group, Inc. has a 1-year low of $61.90 and a 1-year high of $172.43. The company's fifty day moving average price is $75.69 and its 200-day moving average price is $81.74. The firm has a market cap of $7.38 billion, a PE ratio of 53.49, a P/E/G ratio of 3.12 and a beta of 2.61.

CAVA Group (NYSE:CAVA - Get Free Report) last announced its quarterly earnings results on Tuesday, August 12th. The company reported $0.16 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 quarterly revenue was up 20.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.17 EPS. As a group, sell-side analysts expect that CAVA Group, Inc. will post 0.5 earnings per share for the current fiscal year.

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.