Kingswood Wealth Advisors LLC Boosts Stock Holdings in CAVA Group, Inc. $CAVA

Kingswood Wealth Advisors LLC raised its holdings in shares of CAVA Group, Inc. (NYSE:CAVA) by 11.4% during the second quarter, according to its most recent filing with the SEC. The firm owned 3,965 shares of the company’s stock after purchasing an additional 406 shares during the period. Kingswood Wealth Advisors LLC’s holdings in CAVA Group were worth $334,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of CAVA. First Horizon Advisors Inc. grew its position in shares of CAVA Group by 1,400.0% in the 1st quarter. First Horizon Advisors Inc. now owns 285 shares of the company’s stock worth $25,000 after buying an additional 266 shares during the last quarter. Vision Financial Markets LLC purchased a new position in shares of CAVA Group in the 1st quarter worth approximately $26,000. Dagco Inc. purchased a new position in shares of CAVA Group in the 1st quarter worth approximately $27,000. Brooklyn Investment Group grew its position in shares of CAVA Group by 168.0% in the 1st quarter. Brooklyn Investment Group now owns 402 shares of the company’s stock worth $35,000 after buying an additional 252 shares during the last quarter. Finally, Fifth Third Bancorp purchased a new position in shares of CAVA Group in the 2nd quarter worth approximately $38,000. Hedge funds and other institutional investors own 73.15% of the company’s stock.

CAVA Group Trading Down 4.2%

Shares of NYSE CAVA opened at $62.27 on Friday. CAVA Group, Inc. has a 12 month low of $58.33 and a 12 month high of $172.43. The company has a 50 day simple moving average of $68.11 and a two-hundred day simple moving average of $79.75. The stock has a market cap of $7.22 billion, a price-to-earnings ratio of 52.33, a PEG ratio of 3.25 and a beta of 2.50.

CAVA Group (NYSE:CAVA) last announced its quarterly earnings data 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 net margin of 12.98% and a return on equity of 9.83%. The business had revenue of $280.62 million during the quarter, compared to analysts’ expectations of $285.65 million. During the same period in the previous year, the business posted $0.17 EPS. The business’s quarterly revenue was up 20.2% compared to the same quarter last year. Analysts forecast that CAVA Group, Inc. will post 0.5 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the stock. Royal Bank Of Canada assumed coverage on shares of CAVA Group in a research report on Wednesday. They issued an “outperform” rating and a $80.00 price objective on the stock. Wall Street Zen cut shares of CAVA Group from a “hold” rating to a “sell” rating in a research note on Friday, June 27th. Piper Sandler lowered their target price on shares of CAVA Group from $122.00 to $100.00 and set an “overweight” rating for the company in a research note on Wednesday, August 13th. Citigroup lowered their target price on shares of CAVA Group from $102.00 to $88.00 and set a “neutral” rating for the company in a research note on Wednesday, August 13th. Finally, Robert W. Baird set a $95.00 target price on shares of CAVA Group in a research note on Wednesday, August 13th. One research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and eight have given a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $95.50.

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.