Weiss Ratings Reiterates Hold (C) Rating for CAVA Group (NYSE:CAVA)

Key Points

• Weiss Ratings has reaffirmed a "hold (C)" rating for CAVA Group, indicating a neutral outlook for the stock amidst mixed analyst opinions.
• CAVA Group's shares experienced a slight increase, reaching $63.16, despite varying price targets set by analysts, which range significantly from as low as $74.00 to as high as $95.00.
• The company reported earnings of $0.16 per share, surpassing estimates and achieving a revenue increase of 20.2% year-over-year.

CAVA Group (NYSE:CAVA - Get Free Report)'s stock had its "hold (c)" rating reaffirmed by Weiss Ratings in a research report issued to clients and investors on Wednesday,Weiss Ratings reports.

Other research analysts also recently issued research reports about the stock. Barclays dropped their price objective on shares of CAVA Group from $91.00 to $74.00 and set an "equal weight" rating on the stock in a report on Wednesday, August 13th. Robert W. Baird set a $95.00 target price on CAVA Group in a research report on Wednesday, August 13th. Cfra Research raised CAVA Group to a "strong-buy" rating in a report on Thursday, August 14th. UBS Group decreased their target price on shares of CAVA Group from $96.00 to $75.00 and set a "neutral" rating on the stock in a research report on Wednesday, August 13th. Finally, JPMorgan Chase & Co. dropped their price target on shares of CAVA Group from $115.00 to $95.00 and set an "overweight" rating for the company in a research report on Wednesday, June 25th. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and eight have given a Hold rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $96.41.

CAVA Group Price Performance

Shares of NYSE CAVA traded up $1.53 during trading hours on Wednesday, hitting $63.16. 3,043,336 shares of the stock were exchanged, compared to its average volume of 4,280,388. CAVA Group has a one year low of $58.33 and a one year high of $172.43. The company's 50 day moving average is $69.02 and its 200 day moving average is $80.11. The firm has a market capitalization of $7.32 billion, a P/E ratio of 106.26, a P/E/G ratio of 3.08 and a beta of 2.50.

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

Hedge Funds Weigh In On CAVA Group

A number of institutional investors and hedge funds have recently bought and sold shares of CAVA. PNC Financial Services Group Inc. grew its holdings in CAVA Group by 123.4% during the 1st quarter. PNC Financial Services Group Inc. now owns 5,458 shares of the company's stock worth $472,000 after acquiring an additional 3,015 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of CAVA Group by 5.1% during the first quarter. Charles Schwab Investment Management Inc. now owns 554,934 shares of the company's stock worth $47,952,000 after purchasing an additional 27,066 shares in the last quarter. Lewis Asset Management LLC bought a new stake in shares of CAVA Group during the second quarter valued at approximately $504,000. SG Americas Securities LLC grew its stake in shares of CAVA Group by 768.4% during the first quarter. SG Americas Securities LLC now owns 220,816 shares of the company's stock valued at $19,081,000 after purchasing an additional 195,389 shares during the last quarter. Finally, Diversified Trust Co increased its holdings in shares of CAVA Group by 106.9% in the second quarter. Diversified Trust Co now owns 7,742 shares of the company's stock valued at $652,000 after purchasing an additional 4,000 shares in the last quarter. Institutional investors and hedge funds own 73.15% of the company's stock.

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.

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