PFG Investments LLC Has $925,000 Holdings in CAVA Group, Inc. $CAVA

Key Points

• PFG Investments LLC reduced its holdings in CAVA Group, Inc. by 47.0% in Q2, resulting in a total value of approximately $925,000 for 10,985 shares.
• CAVA Group's recent quarterly earnings showed an EPS of $0.16, exceeding analysts' expectations, and the company reported a 20.2% year-over-year increase in revenue.
• Brokerages have downgraded CAVA's price targets, with Piper Sandler setting a new target at $100.00, while Bank of America also adjusted theirs to $100.00 but maintained a "buy" rating.

PFG Investments LLC decreased its position in shares of CAVA Group, Inc. (NYSE:CAVA - Free Report) by 47.0% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 10,985 shares of the company's stock after selling 9,725 shares during the quarter. PFG Investments LLC's holdings in CAVA Group were worth $925,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of CAVA. Jennison Associates LLC raised its position in shares of CAVA Group by 246.1% in the 1st quarter. Jennison Associates LLC now owns 8,519,459 shares of the company's stock valued at $736,166,000 after buying an additional 6,057,727 shares in the last quarter. Price T Rowe Associates Inc. MD raised its position in CAVA Group by 114.4% during the first quarter. Price T Rowe Associates Inc. MD now owns 2,394,561 shares of the company's stock valued at $206,915,000 after purchasing an additional 1,277,912 shares in the last quarter. Vanguard Group Inc. lifted its stake in CAVA Group by 13.2% during the first quarter. Vanguard Group Inc. now owns 9,065,782 shares of the company's stock worth $783,374,000 after purchasing an additional 1,054,180 shares during the last quarter. Nuveen LLC acquired a new stake in shares of CAVA Group in the 1st quarter valued at $72,800,000. Finally, Alliancebernstein L.P. increased its stake in shares of CAVA Group by 2,072.1% in the 1st quarter. Alliancebernstein L.P. now owns 852,691 shares of the company's stock valued at $73,681,000 after purchasing an additional 813,434 shares during the last quarter. 73.15% of the stock is owned by institutional investors.

CAVA Group Trading Up 2.7%

Shares of CAVA stock opened at $63.33 on Friday. CAVA Group, Inc. has a 1-year low of $58.33 and a 1-year high of $172.43. The stock has a market cap of $7.34 billion, a price-to-earnings ratio of 53.22, a PEG ratio of 3.08 and a beta of 2.50. The stock has a 50-day moving average of $71.01 and a 200-day moving average of $80.62.

CAVA Group (NYSE:CAVA - Get Free Report) last posted its quarterly earnings data on Tuesday, August 12th. The company reported $0.16 EPS for the quarter, topping 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 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 period in the previous year, the firm earned $0.17 earnings per share. Sell-side analysts forecast that CAVA Group, Inc. will post 0.5 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on CAVA. Piper Sandler dropped their price objective 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. Wall Street Zen cut shares of CAVA Group from a "hold" rating to a "sell" rating in a report on Friday, June 27th. Citigroup reduced their price target on shares of CAVA Group from $102.00 to $88.00 and set a "neutral" rating on the stock in a research note on Wednesday, August 13th. UBS Group lowered their price objective on shares of CAVA Group from $96.00 to $75.00 and set a "neutral" rating for the company in a research report on Wednesday, August 13th. Finally, Bank of America dropped their price objective on shares of CAVA Group from $121.00 to $100.00 and set a "buy" rating for the company in a research note on Wednesday, August 13th. One research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and seven have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average 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.

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