Signal Advisors Wealth LLC Invests $1.03 Million in CAVA Group, Inc. $CAVA

Key Points

• Signal Advisors Wealth LLC has acquired a new stake in CAVA Group, purchasing 12,253 shares valued at approximately $1,032,000 during the second quarter.
• CAVA Group reported $0.16 earnings per share for the last quarter, beating estimates of $0.13, with revenue growth of 20.2% year-over-year.
• The stock has a current consensus rating of "Moderate Buy" with a target price of $96.41, as analysts maintain a mix of buy and hold ratings on the company.

Signal Advisors Wealth LLC acquired a new position in CAVA Group, Inc. (NYSE:CAVA - Free Report) in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 12,253 shares of the company's stock, valued at approximately $1,032,000.

A number of other institutional investors have also added to or reduced their stakes in the company. First Horizon Advisors Inc. raised its holdings in CAVA Group by 1,400.0% in the first quarter. First Horizon Advisors Inc. now owns 285 shares of the company's stock worth $25,000 after buying an additional 266 shares during the last quarter. Vision Financial Markets LLC purchased a new position in CAVA Group in the 1st quarter worth approximately $26,000. Dagco Inc. bought a new position in CAVA Group in the 1st quarter valued at approximately $27,000. Versant Capital Management Inc purchased a new stake in CAVA Group during the 1st quarter valued at $31,000. Finally, Brooklyn Investment Group increased its holdings in shares of CAVA Group by 168.0% in the 1st quarter. Brooklyn Investment Group now owns 402 shares of the company's stock worth $35,000 after purchasing an additional 252 shares in the last quarter. Institutional investors own 73.15% of the company's stock.

Wall Street Analyst Weigh In

CAVA has been the topic of a number of research analyst reports. Citigroup lowered their price target on CAVA Group from $102.00 to $88.00 and set a "neutral" rating on the stock in a report on Wednesday, August 13th. TD Cowen reduced their price objective on CAVA Group from $120.00 to $90.00 and set a "buy" rating for the company in a report on Wednesday, August 13th. Stifel Nicolaus reduced their price objective on CAVA Group from $175.00 to $125.00 and set a "buy" rating for the company in a report on Wednesday, June 18th. Argus set a $76.00 price objective on CAVA Group in a report on Tuesday, September 2nd. Finally, Barclays reduced their price target on shares of CAVA Group from $91.00 to $74.00 and set an "equal weight" rating for the company in a research 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 company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $96.41.

CAVA Group Stock Performance

CAVA traded up $0.09 during trading on Friday, reaching $63.65. 6,602,224 shares of the company traded hands, compared to its average volume of 3,470,031. CAVA Group, Inc. has a 12-month low of $61.90 and a 12-month high of $172.43. The firm has a fifty day simple moving average of $75.69 and a 200 day simple moving average of $81.74. The company has a market cap of $7.38 billion, a P/E ratio of 53.49, a PEG ratio of 3.18 and a beta of 2.61.

CAVA Group (NYSE:CAVA - Get Free Report) last released its quarterly earnings data on Tuesday, August 12th. The company reported $0.16 EPS for the quarter, beating 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 the consensus estimate of $285.65 million. During the same quarter in the prior year, the firm earned $0.17 EPS. The business's revenue was up 20.2% on a year-over-year basis. 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.