MGO One Seven LLC Makes New Investment in CAVA Group, Inc. $CAVA

MGO One Seven LLC purchased a new position in shares of CAVA Group, Inc. (NYSE:CAVA) during the second quarter, HoldingsChannel.com reports. The fund purchased 3,932 shares of the company’s stock, valued at approximately $331,000.

Other large investors also recently bought and sold shares of the company. Maryland State Retirement & Pension System raised its stake in CAVA Group by 37.5% during the second quarter. Maryland State Retirement & Pension System now owns 4,850 shares of the company’s stock worth $409,000 after purchasing an additional 1,324 shares during the period. PNC Financial Services Group Inc. raised its stake in CAVA Group by 123.4% during the first quarter. PNC Financial Services Group Inc. now owns 5,458 shares of the company’s stock worth $472,000 after purchasing an additional 3,015 shares during the period. Charles Schwab Investment Management Inc. raised its stake in shares of CAVA Group by 5.1% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 554,934 shares of the company’s stock valued at $47,952,000 after acquiring an additional 27,066 shares during the period. Lewis Asset Management LLC purchased a new position in shares of CAVA Group in the 2nd quarter valued at $504,000. Finally, KLP Kapitalforvaltning AS raised its stake in shares of CAVA Group by 5.0% in the 2nd quarter. KLP Kapitalforvaltning AS now owns 18,800 shares of the company’s stock valued at $1,584,000 after acquiring an additional 900 shares during the period. Hedge funds and other institutional investors own 73.15% of the company’s stock.

Analyst Upgrades and Downgrades

CAVA has been the topic of a number of research reports. Bank of America cut their target price on shares of CAVA Group from $121.00 to $100.00 and set a “buy” rating on the stock in a research note on Wednesday, August 13th. Melius initiated coverage on shares of CAVA Group in a research note on Monday, July 14th. They issued a “hold” rating and a $95.00 target price on the stock. Piper Sandler cut their target price on shares of CAVA Group from $122.00 to $100.00 and set an “overweight” rating on the stock in a research note on Wednesday, August 13th. Cfra Research raised shares of CAVA Group to a “strong-buy” rating in a research note on Thursday, August 14th. Finally, UBS Group cut 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 note on Wednesday, August 13th. One analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and nine have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $95.50.

CAVA Group Trading Down 0.3%

CAVA opened at $63.18 on Monday. The company has a fifty day simple moving average of $65.76 and a 200 day simple moving average of $78.83. The firm has a market cap of $7.33 billion, a price-to-earnings ratio of 53.10, a PEG ratio of 3.17 and a beta of 2.50. CAVA Group, Inc. has a twelve month low of $58.33 and a twelve month high of $172.43.

CAVA Group (NYSE:CAVA) last released its quarterly earnings results on Tuesday, August 12th. The company reported $0.16 earnings per share for the quarter, beating analysts’ consensus estimates of $0.13 by $0.03. The business 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 period last year, the business earned $0.17 EPS. On average, analysts forecast that CAVA Group, Inc. will post 0.5 earnings per share for the current fiscal 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.