3,975 Shares in CAVA Group, Inc. $CAVA Purchased by Zevenbergen Capital Investments LLC

Key Points

• Zevenbergen Capital Investments LLC has made a new investment in CAVA Group, purchasing 3,975 shares valued at approximately $335,000.
• Institutional investors currently own 73.15% of CAVA Group, with several hedge funds increasing their positions in the company recently.
• CAVA Group's most recent earnings showed a 20.2% increase in revenue year-over-year, reporting $0.16 EPS, exceeding analysts' expectations.

Zevenbergen Capital Investments LLC purchased a new position in shares of CAVA Group, Inc. (NYSE:CAVA - Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 3,975 shares of the company's stock, valued at approximately $335,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Bison Wealth LLC acquired a new position in shares of CAVA Group in the 4th quarter valued at approximately $208,000. Deutsche Bank AG grew its stake in CAVA Group by 0.8% during the 4th quarter. Deutsche Bank AG now owns 72,751 shares of the company's stock worth $8,206,000 after buying an additional 587 shares during the last quarter. Janus Henderson Group PLC grew its stake in CAVA Group by 42.7% during the 4th quarter. Janus Henderson Group PLC now owns 36,400 shares of the company's stock worth $4,102,000 after buying an additional 10,900 shares during the last quarter. Point72 Hong Kong Ltd bought a new position in shares of CAVA Group in the fourth quarter worth $694,000. Finally, Royal Bank of Canada grew its stake in shares of CAVA Group by 308.3% in the fourth quarter. Royal Bank of Canada now owns 154,037 shares of the company's stock worth $17,376,000 after purchasing an additional 116,313 shares in the last quarter. 73.15% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts have recently weighed in on CAVA shares. Bank of America cut their price objective on CAVA Group from $121.00 to $100.00 and set a "buy" rating for the company in a report on Wednesday, August 13th. KeyCorp reduced their target price on CAVA Group from $100.00 to $85.00 and set an "overweight" rating for the company in a report on Wednesday, August 13th. Morgan Stanley reduced their price objective on CAVA Group from $107.00 to $97.00 and set an "equal weight" rating for the company in a research note 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 research note on Wednesday, June 18th. Finally, JPMorgan Chase & Co. reduced their price objective on CAVA Group from $115.00 to $95.00 and set an "overweight" rating for the company in a research note on Wednesday, June 25th. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and seven have given a Hold rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $96.41.

CAVA Group Price Performance

Shares of CAVA Group stock traded down $0.37 during midday trading on Friday, hitting $63.20. 1,547,876 shares of the company were exchanged, compared to its average volume of 3,821,018. The firm has a 50 day simple moving average of $76.26 and a 200-day simple moving average of $81.90. CAVA Group, Inc. has a 52 week low of $61.90 and a 52 week high of $172.43. The firm has a market cap of $7.33 billion, a P/E ratio of 53.11, a PEG ratio of 3.12 and a beta of 2.61.

CAVA Group (NYSE:CAVA - Get Free Report) last released its earnings results 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 return on equity of 9.83% and a net margin of 12.98%.The company had revenue of $280.62 million during the quarter, compared to analysts' expectations of $285.65 million. During the same period last year, the firm earned $0.17 EPS. The business's revenue for the quarter was up 20.2% on a year-over-year basis. Equities research analysts expect that CAVA Group, Inc. will post 0.5 earnings per share for the current 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.