Vanguard Group Inc. Has $541.20 Million Holdings in CAVA Group, Inc. $CAVA

Key Points

• Vanguard Group trimmed its stake by 1.3% to 9,221,272 shares — roughly 7.95% ownership worth $541.2 million at the end of the quarter, while institutional investors own about 73.15% of CAVA.
• CAVA beat estimates with $0.04 EPS (vs. $0.03 expected) and reported revenue of $274.99 million, up 20.9% year-over-year.
• Analyst sentiment is positive with a consensus "Moderate Buy" and an average price target of $89.70; the stock trades near $89 with a market cap of about $10.37 billion and a high P/E (~165), signaling growth expectations.

Vanguard Group Inc. cut its holdings in CAVA Group, Inc. (NYSE:CAVA - Free Report) by 1.3% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 9,221,272 shares of the company's stock after selling 124,704 shares during the quarter. Vanguard Group Inc. owned approximately 7.95% of CAVA Group worth $541,196,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the business. DMC Group LLC grew its holdings in shares of CAVA Group by 3.7% during the fourth quarter. DMC Group LLC now owns 4,426 shares of the company's stock worth $260,000 after purchasing an additional 157 shares during the last quarter. Envestnet Portfolio Solutions Inc. raised its holdings in CAVA Group by 6.0% in the 3rd quarter. Envestnet Portfolio Solutions Inc. now owns 3,852 shares of the company's stock valued at $233,000 after buying an additional 219 shares during the last quarter. Clearstead Advisors LLC raised its holdings in CAVA Group by 23.5% in the 3rd quarter. Clearstead Advisors LLC now owns 1,325 shares of the company's stock valued at $80,000 after buying an additional 252 shares during the last quarter. Brown Advisory Inc. raised its holdings in CAVA Group by 9.3% in the 2nd quarter. Brown Advisory Inc. now owns 2,979 shares of the company's stock valued at $251,000 after buying an additional 253 shares during the last quarter. Finally, Kingswood Wealth Advisors LLC raised its holdings in CAVA Group by 8.2% in the 3rd quarter. Kingswood Wealth Advisors LLC now owns 4,292 shares of the company's stock valued at $259,000 after buying an additional 327 shares during the last quarter. 73.15% of the stock is owned by institutional investors and hedge funds.

CAVA Group Price Performance

CAVA Group stock opened at $89.11 on Tuesday. The stock's 50 day moving average is $84.33 and its 200 day moving average is $67.95. The firm has a market cap of $10.37 billion, a P/E ratio of 165.03, a P/E/G ratio of 6.48 and a beta of 1.90. CAVA Group, Inc. has a one year low of $43.41 and a one year high of $101.50.

CAVA Group (NYSE:CAVA - Get Free Report) last posted its quarterly earnings data on Tuesday, February 24th. The company reported $0.04 EPS for the quarter, topping analysts' consensus estimates of $0.03 by $0.01. The company had revenue of $274.99 million for the quarter, compared to analyst estimates of $268.04 million. CAVA Group had a return on equity of 8.43% and a net margin of 5.40%.The firm's quarterly revenue was up 20.9% on a year-over-year basis. During the same period in the previous year, the firm earned $0.05 earnings per share. Equities analysts anticipate that CAVA Group, Inc. will post 0.52 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on CAVA. Benchmark raised their price objective on shares of CAVA Group from $80.00 to $110.00 and gave the company a "buy" rating in a report on Monday, April 20th. DA Davidson began coverage on shares of CAVA Group in a report on Friday, March 6th. They issued a "neutral" rating and a $80.00 price objective for the company. Argus reiterated a "hold" rating on shares of CAVA Group in a report on Friday, February 27th. Royal Bank Of Canada raised their price objective on shares of CAVA Group from $90.00 to $100.00 and gave the company an "outperform" rating in a report on Friday. Finally, Weiss Ratings reiterated a "hold (c)" rating on shares of CAVA Group in a report on Wednesday, January 21st. One analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, eleven have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, CAVA Group presently has a consensus rating of "Moderate Buy" and an average price target of $89.70.

CAVA Group Profile

CAVA Group, Inc NYSE: CAVA is a leading fast-casual restaurant company specializing in Mediterranean-inspired cuisine. Operating under the CAVA brand, the company offers customizable bowls, pitas and salads built around a variety of proteins, grains, fresh vegetables and house-made spreads. With a focus on high-quality ingredients and made-to-order preparation, CAVA aims to deliver a casual yet elevated dining experience for dine-in, takeout and catering customers.

Founded in 2011 in the Washington, DC metro area by Ike Grigoropoulos, Dimitri Katsanis and Brett Schulman, CAVA has pursued an aggressive growth strategy that included the 2018 acquisition of Zoe's Kitchen.

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