Xcel Wealth Management LLC Buys 20,884 Shares of CAVA Group, Inc. $CAVA

Key Points

• Xcel Wealth Management LLC increased its stake in CAVA Group by 95.5% during the second quarter, now holding 42,750 shares valued at approximately $3.6 million.
• CAVA Group reported $0.16 earnings per share (EPS) for the latest quarter, exceeding analysts' estimates of $0.13, despite revenue falling short of expectations.
• The stock has seen a 2.6% decline, with its current price at $63.42, far from its 12-month high of $172.43.

Xcel Wealth Management LLC raised its stake in shares of CAVA Group, Inc. (NYSE:CAVA - Free Report) by 95.5% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 42,750 shares of the company's stock after buying an additional 20,884 shares during the period. CAVA Group accounts for approximately 1.0% of Xcel Wealth Management LLC's portfolio, making the stock its 26th biggest holding. Xcel Wealth Management LLC's holdings in CAVA Group were worth $3,601,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the stock. Public Employees Retirement System of Ohio increased its holdings in shares of CAVA Group by 22.8% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 30,980 shares of the company's stock valued at $2,609,000 after acquiring an additional 5,759 shares during the last quarter. Norden Group LLC acquired a new stake in shares of CAVA Group in the second quarter worth $549,000. Mainstream Capital Management LLC lifted its stake in shares of CAVA Group by 4.3% in the second quarter. Mainstream Capital Management LLC now owns 19,866 shares of the company's stock worth $1,673,000 after buying an additional 825 shares during the last quarter. Fifth Third Bancorp acquired a new stake in shares of CAVA Group in the second quarter worth $38,000. Finally, GAMMA Investing LLC lifted its stake in shares of CAVA Group by 68.7% in the second quarter. GAMMA Investing LLC now owns 1,441 shares of the company's stock worth $121,000 after buying an additional 587 shares during the last quarter. Institutional investors and hedge funds own 73.15% of the company's stock.

CAVA Group Stock Down 2.6%

CAVA Group stock opened at $63.42 on Thursday. The business has a 50 day moving average price of $74.23 and a two-hundred day moving average price of $81.33. The stock has a market cap of $7.35 billion, a price-to-earnings ratio of 53.30, a price-to-earnings-growth ratio of 3.26 and a beta of 2.61. CAVA Group, Inc. has a 12 month low of $61.90 and a 12 month high of $172.43.

CAVA Group (NYSE:CAVA - Get Free Report) last released its quarterly earnings data on Tuesday, August 12th. The company reported $0.16 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.13 by $0.03. CAVA Group had a return on equity of 9.83% and a net margin of 12.98%.The business had revenue of $280.62 million for the quarter, compared to analysts' expectations of $285.65 million. During the same period in the previous year, the business posted $0.17 earnings per share. CAVA Group's quarterly revenue was up 20.2% on a year-over-year basis. On average, analysts expect that CAVA Group, Inc. will post 0.5 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages recently commented on CAVA. Melius started coverage on shares of CAVA Group in a report on Monday, July 14th. They issued a "hold" rating and a $95.00 target price on the stock. Argus set a $76.00 price target on CAVA Group in a research report on Tuesday, September 2nd. UBS Group decreased their target price on CAVA Group from $96.00 to $75.00 and set a "neutral" rating for the company in a research note on Wednesday, August 13th. Barclays decreased their target price on CAVA Group from $91.00 to $74.00 and set an "equal weight" rating for the company in a research note on Wednesday, August 13th. Finally, Robert W. Baird set a $95.00 price target on CAVA Group in a report 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 assigned a Hold rating to the company's stock. According to MarketBeat.com, CAVA Group currently has a consensus rating of "Moderate Buy" and an average price target 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.

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