US Bancorp DE Raises Position in CAVA Group, Inc. $CAVA

Key Points

• US Bancorp DE increased its stake in CAVA Group, Inc. by 137.5% during the second quarter, now owning 9,135 shares valued at approximately $769,000.
• A significant 73.15% of CAVA Group stock is held by hedge funds and institutional investors, indicating strong institutional interest in the company.
• CAVA Group reported earnings of $0.16 per share for the last quarter, exceeding analyst estimates, with a revenue growth of 20.2% year-over-year.

US Bancorp DE lifted its stake in shares of CAVA Group, Inc. (NYSE:CAVA - Free Report) by 137.5% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 9,135 shares of the company's stock after purchasing an additional 5,289 shares during the period. US Bancorp DE's holdings in CAVA Group were worth $769,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of the business. First Horizon Advisors Inc. grew its position in shares of CAVA Group by 1,400.0% during the 1st 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 position in shares of CAVA Group during the first quarter valued at about $26,000. Dagco Inc. bought a new position in shares of CAVA Group during the first quarter valued at about $27,000. Brooklyn Investment Group increased its position in shares of 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 buying an additional 252 shares during the period. Finally, Fifth Third Bancorp purchased a new position in shares of CAVA Group during the second quarter valued at about $38,000. 73.15% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the stock. Robert W. Baird set a $95.00 price objective on shares of CAVA Group in a report on Wednesday, August 13th. KeyCorp decreased their price target on shares of CAVA Group from $100.00 to $85.00 and set an "overweight" rating on the stock in a research report on Wednesday, August 13th. Melius assumed coverage on shares of CAVA Group in a research report on Monday, July 14th. They set a "hold" rating and a $95.00 price objective on the stock. Morgan Stanley decreased their price objective on shares of CAVA Group from $107.00 to $97.00 and set an "equal weight" rating on the stock in a research report on Wednesday, August 13th. Finally, Argus set a $76.00 target price on shares of CAVA Group in a research note on Tuesday, September 2nd. One research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and eight have given a Hold rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $95.50.

CAVA Group Stock Down 0.3%

CAVA Group stock opened at $63.18 on Friday. The business has a fifty day moving average of $65.76 and a two-hundred day moving average of $78.86. CAVA Group, Inc. has a twelve month low of $58.33 and a twelve month high of $172.43. The firm has a market cap of $7.33 billion, a P/E ratio of 53.10, a P/E/G ratio of 3.17 and a beta of 2.50.

CAVA Group (NYSE:CAVA - Get Free Report) last issued its quarterly earnings data 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. CAVA Group had a net margin of 12.98% and a return on equity of 9.83%. The firm had revenue of $280.62 million for the quarter, compared to the consensus estimate of $285.65 million. During the same quarter in the previous year, the firm earned $0.17 EPS. The company's quarterly revenue was up 20.2% compared to the same quarter last year. Equities analysts expect that CAVA Group, Inc. will post 0.5 earnings per share for the current year.

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.

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