Chokshi & Queen Wealth Advisors Inc Acquires New Shares in CAVA Group, Inc. $CAVA

Chokshi & Queen Wealth Advisors Inc acquired a new stake in shares of CAVA Group, Inc. (NYSE:CAVA) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 3,500 shares of the company’s stock, valued at approximately $295,000.

Other institutional investors also recently bought and sold shares of the company. First Horizon Advisors Inc. lifted its holdings in CAVA Group by 1,400.0% in the first quarter. First Horizon Advisors Inc. now owns 285 shares of the company’s stock valued at $25,000 after acquiring an additional 266 shares during the period. Vision Financial Markets LLC bought a new position in shares of CAVA Group in the first quarter worth about $26,000. Dagco Inc. bought a new position in shares of CAVA Group in the first quarter worth about $27,000. Brooklyn Investment Group raised its stake in shares of CAVA Group by 168.0% in the first quarter. Brooklyn Investment Group now owns 402 shares of the company’s stock worth $35,000 after buying an additional 252 shares during the period. Finally, Fifth Third Bancorp bought a new position in shares of CAVA Group in the second quarter worth about $38,000. Institutional investors own 73.15% of the company’s stock.

CAVA Group Stock Performance

Shares of CAVA Group stock opened at $65.53 on Wednesday. The stock has a market cap of $7.60 billion, a price-to-earnings ratio of 55.06, a price-to-earnings-growth ratio of 3.19 and a beta of 2.50. The stock has a 50 day moving average price of $64.96 and a 200-day moving average price of $78.65. CAVA Group, Inc. has a one year low of $58.33 and a one year high of $172.43.

CAVA Group (NYSE:CAVA) last announced its earnings results on Tuesday, August 12th. The company reported $0.16 EPS 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 analysts’ expectations of $285.65 million. CAVA Group had a return on equity of 9.83% and a net margin of 12.98%.The company’s quarterly 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. Sell-side analysts predict that CAVA Group, Inc. will post 0.5 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have recently commented on CAVA. TD Cowen decreased their price objective on CAVA Group from $120.00 to $90.00 and set a “buy” rating on the stock in a research note on Wednesday, August 13th. Barclays decreased their price objective on CAVA Group from $91.00 to $74.00 and set an “equal weight” rating on the stock in a research note on Wednesday, August 13th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of CAVA Group in a research note on Wednesday, October 8th. Citigroup cut their target price on CAVA Group from $102.00 to $88.00 and set a “neutral” rating for the company in a research report on Wednesday, August 13th. Finally, Piper Sandler cut their price target on CAVA Group from $122.00 to $100.00 and set an “overweight” rating for the company in a report on Wednesday, August 13th. One analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and nine have issued a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $94.26.

CAVA Group Company 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.