Strs Ohio Makes New Investment in CAVA Group, Inc. $CAVA

Key Points

• Strs Ohio made a new investment of $766,000 in CAVA Group, purchasing 8,864 shares during the first quarter.
• Institutional investors now hold 73.15% of CAVA Group's shares, reflecting increased interest from multiple hedge funds.
• CAVA Group's stock has seen a 20.2% year-over-year revenue increase, with recent earnings surpassing analysts' estimates at $0.16 per share.

Strs Ohio purchased a new stake in shares of CAVA Group, Inc. (NYSE:CAVA - Free Report) during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 8,864 shares of the company's stock, valued at approximately $766,000.

A number of other large investors also recently made changes to their positions in CAVA. First Horizon Advisors Inc. lifted its position in shares of CAVA Group by 1,400.0% during the first quarter. First Horizon Advisors Inc. now owns 285 shares of the company's stock valued at $25,000 after purchasing an additional 266 shares in the last quarter. Vision Financial Markets LLC bought a new stake in shares of CAVA Group in the first quarter valued at approximately $26,000. Dagco Inc. purchased a new position in CAVA Group during the first quarter valued at approximately $27,000. Versant Capital Management Inc purchased a new position in CAVA Group during the first quarter valued at approximately $31,000. Finally, Brooklyn Investment Group grew its stake in CAVA Group by 168.0% during the first quarter. Brooklyn Investment Group now owns 402 shares of the company's stock valued at $35,000 after acquiring an additional 252 shares in the last quarter. 73.15% of the stock is owned by institutional investors.

CAVA Group Stock Performance

NYSE:CAVA traded up $1.19 during midday trading on Tuesday, reaching $66.72. 266,165 shares of the stock traded hands, compared to its average volume of 3,826,270. The company has a fifty day moving average of $75.20 and a 200 day moving average of $81.57. CAVA Group, Inc. has a 12 month low of $61.90 and a 12 month high of $172.43. The stock has a market capitalization of $7.74 billion, a P/E ratio of 56.03, a PEG ratio of 3.18 and a beta of 2.62.

CAVA Group (NYSE:CAVA - Get Free Report) last issued its quarterly earnings data on Tuesday, August 12th. The company reported $0.16 EPS for the quarter, topping 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 analyst estimates of $285.65 million. During the same period in the prior year, the business earned $0.17 EPS. The company's revenue for the quarter was up 20.2% on a year-over-year basis. On average, analysts predict that CAVA Group, Inc. will post 0.5 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts recently commented on CAVA shares. Sanford C. Bernstein set a $74.00 price objective on shares of CAVA Group in a research note on Wednesday, August 13th. Argus set a $76.00 price objective on shares of CAVA Group in a research note on Tuesday, September 2nd. Bank of America reduced 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. Robert W. Baird set a $95.00 price objective on shares of CAVA Group in a research note on Wednesday, August 13th. Finally, Citigroup cut their price target on shares of CAVA Group from $102.00 to $88.00 and set a "neutral" 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 assigned a Buy rating and seven have assigned a Hold rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price 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.