CAVA Group, Inc. $CAVA Shares Purchased by State of New Jersey Common Pension Fund D

State of New Jersey Common Pension Fund D raised its holdings in shares of CAVA Group, Inc. (NYSE:CAVA) by 4.5% during the second quarter, HoldingsChannel reports. The institutional investor owned 31,800 shares of the company’s stock after acquiring an additional 1,373 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in CAVA Group were worth $2,679,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of CAVA. Jennison Associates LLC lifted its position in CAVA Group by 246.1% during the first quarter. Jennison Associates LLC now owns 8,519,459 shares of the company’s stock valued at $736,166,000 after buying an additional 6,057,727 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its position in CAVA Group by 114.4% during the first quarter. Price T Rowe Associates Inc. MD now owns 2,394,561 shares of the company’s stock valued at $206,915,000 after buying an additional 1,277,912 shares in the last quarter. Vanguard Group Inc. lifted its position in CAVA Group by 13.2% during the first quarter. Vanguard Group Inc. now owns 9,065,782 shares of the company’s stock valued at $783,374,000 after buying an additional 1,054,180 shares in the last quarter. Nuveen LLC acquired a new position in CAVA Group during the first quarter valued at approximately $72,800,000. Finally, Alliancebernstein L.P. lifted its position in CAVA Group by 2,072.1% during the first quarter. Alliancebernstein L.P. now owns 852,691 shares of the company’s stock valued at $73,681,000 after buying an additional 813,434 shares in the last quarter. 73.15% of the stock is owned by institutional investors and hedge funds.

CAVA Group Trading Down 1.2%

Shares of NYSE:CAVA opened at $62.21 on Wednesday. The company has a fifty day simple moving average of $64.37 and a 200 day simple moving average of $77.86. The firm has a market cap of $7.21 billion, a PE ratio of 52.28, a price-to-earnings-growth ratio of 3.63 and a beta of 2.50. CAVA Group, Inc. has a 12-month low of $58.33 and a 12-month high of $172.43.

CAVA Group (NYSE:CAVA) last issued its quarterly earnings results on Tuesday, August 12th. The company reported $0.16 earnings per share (EPS) for the quarter, topping 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% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.17 earnings per share. As a group, equities research analysts forecast that CAVA Group, Inc. will post 0.5 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts have weighed in on CAVA shares. KeyCorp reduced their price target on shares of CAVA Group from $100.00 to $85.00 and set an “overweight” rating on the stock in a research report on Wednesday, August 13th. Cfra Research raised shares of CAVA Group to a “strong-buy” rating in a research report on Thursday, August 14th. Argus set a $76.00 target price on shares of CAVA Group in a research report on Tuesday, September 2nd. Royal Bank Of Canada assumed coverage on shares of CAVA Group in a research report on Wednesday, October 8th. They set an “outperform” rating and a $80.00 target price on the stock. Finally, Morgan Stanley reduced their target price on shares of CAVA Group from $97.00 to $95.00 and set an “equal weight” rating on the stock in a research report on Tuesday, October 21st. One research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and ten have issued a Hold rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $92.30.

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.