Defender Capital LLC. Makes New $649,000 Investment in CAVA Group, Inc. $CAVA

Defender Capital LLC. acquired a new position in shares of CAVA Group, Inc. (NYSE:CAVA) during the 2nd quarter, according to its most recent 13F filing with the SEC. The fund acquired 7,700 shares of the company’s stock, valued at approximately $649,000. CAVA Group comprises 0.2% of Defender Capital LLC.’s investment portfolio, making the stock its 24th biggest holding.

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

CAVA Group Stock Performance

Shares of CAVA stock opened at $63.30 on Tuesday. CAVA Group, Inc. has a 1 year low of $58.33 and a 1 year high of $172.43. The stock has a fifty day moving average of $67.62 and a two-hundred day moving average of $79.48. The firm has a market capitalization of $7.34 billion, a PE ratio of 53.20, a price-to-earnings-growth ratio of 3.14 and a beta of 2.50.

CAVA Group (NYSE:CAVA) last announced 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. CAVA Group had a return on equity of 9.83% and a net margin of 12.98%.The company had revenue of $280.62 million during the quarter, compared to analyst estimates of $285.65 million. During the same quarter in the previous year, the firm posted $0.17 EPS. The firm’s quarterly revenue was up 20.2% on a year-over-year basis. Equities research analysts predict that CAVA Group, Inc. will post 0.5 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of brokerages have recently weighed in on CAVA. UBS Group lowered their price target on CAVA Group from $96.00 to $75.00 and set a “neutral” rating for the company in a report on Wednesday, August 13th. Piper Sandler lowered 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. Citigroup reduced their price objective 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. Royal Bank Of Canada initiated coverage on CAVA Group in a research report on Wednesday, October 8th. They set an “outperform” rating and a $80.00 price objective for the company. Finally, TD Cowen reduced their price objective on CAVA Group from $120.00 to $90.00 and set a “buy” rating for the company in a research report on Wednesday, August 13th. One analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and eight have issued a Hold rating to the company. According to MarketBeat.com, CAVA Group has a consensus rating of “Moderate Buy” and an average price target 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.