5,985 Shares in CAVA Group, Inc. $CAVA Purchased by Lewis Asset Management LLC

Key Points

• Lewis Asset Management LLC has acquired 5,985 shares of CAVA Group, Inc., valued at approximately $504,000, indicating growing institutional interest in the company.
• Several hedge funds significantly increased their stakes in CAVA Group during the first quarter, with 73.15% of the stock currently owned by institutional investors.
• CAVA Group reported quarterly earnings with an EPS of $0.16, surpassing estimates, and a revenue of $280.62 million, marking a 20.2% increase from the same period last year.

Lewis Asset Management LLC bought a new stake in CAVA Group, Inc. (NYSE:CAVA - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 5,985 shares of the company's stock, valued at approximately $504,000.

A number of other large investors have also added to or reduced their stakes in the stock. Park Avenue Securities LLC bought a new stake in CAVA Group during the second quarter worth $244,000. Farther Finance Advisors LLC raised its position in CAVA Group by 44.7% during the 2nd quarter. Farther Finance Advisors LLC now owns 3,141 shares of the company's stock worth $265,000 after purchasing an additional 970 shares during the last quarter. UMB Bank n.a. raised its position in CAVA Group by 338.9% during the 2nd quarter. UMB Bank n.a. now owns 834 shares of the company's stock worth $70,000 after purchasing an additional 644 shares during the last quarter. Diversified Trust Co raised its position in CAVA Group by 106.9% during 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 last quarter. Finally, Wealth Enhancement Advisory Services LLC grew its holdings in CAVA Group by 0.4% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 59,552 shares of the company's stock worth $5,152,000 after acquiring an additional 264 shares during the period. Institutional investors and hedge funds own 73.15% of the company's stock.

CAVA Group Stock Performance

CAVA traded up $1.94 during trading on Monday, hitting $65.47. The stock had a trading volume of 3,183,164 shares, compared to its average volume of 3,633,829. CAVA Group, Inc. has a twelve month low of $61.90 and a twelve month high of $172.43. The company's 50-day moving average price is $75.20 and its 200 day moving average price is $81.57. The firm has a market capitalization of $7.59 billion, a P/E ratio of 55.02, a PEG ratio of 3.18 and a beta of 2.62.

CAVA Group (NYSE:CAVA - Get Free Report) last released its earnings results on Tuesday, August 12th. The company reported $0.16 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.13 by $0.03. The company had revenue of $280.62 million for the quarter, compared to analyst estimates of $285.65 million. CAVA Group had a net margin of 12.98% and a return on equity of 9.83%. The firm's quarterly revenue was up 20.2% on a year-over-year basis. During the same period in the prior year, the firm earned $0.17 EPS. As a group, equities analysts expect that CAVA Group, Inc. will post 0.5 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms have commented on CAVA. Cfra Research raised shares of CAVA Group to a "strong-buy" rating in a research report on Thursday, August 14th. Piper Sandler cut their price target on shares of CAVA Group from $122.00 to $100.00 and set an "overweight" rating on the stock in a report on Wednesday, August 13th. Robert W. Baird set a $95.00 price target on shares of CAVA Group in a research report on Wednesday, August 13th. Stifel Nicolaus dropped their price objective on shares of CAVA Group from $175.00 to $125.00 and set a "buy" rating for the company in a research note on Wednesday, June 18th. Finally, Melius began coverage on shares of CAVA Group in a report on Monday, July 14th. They set a "hold" rating and a $95.00 price objective for the company. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and seven have assigned a Hold rating to the company. According to MarketBeat, CAVA Group presently has a consensus rating of "Moderate Buy" and a consensus price target of $96.41.

CAVA Group Company 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.