Portside Wealth Group LLC Takes Position in CAVA Group, Inc. $CAVA

Portside Wealth Group LLC acquired a new stake in CAVA Group, Inc. (NYSE:CAVA) during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 4,275 shares of the company’s stock, valued at approximately $360,000.

Several other institutional investors have also added to or reduced their stakes in CAVA. Vision Financial Markets LLC acquired a new stake in shares of CAVA Group in the 1st quarter valued at $26,000. Dagco Inc. bought a new stake in shares of CAVA Group during the 1st quarter worth $27,000. Atlantic Union Bankshares Corp acquired a new stake in CAVA Group in the second quarter valued at about $31,000. Brooklyn Investment Group grew its position in CAVA Group by 168.0% in the first quarter. Brooklyn Investment Group now owns 402 shares of the company’s stock valued at $35,000 after acquiring an additional 252 shares during the last quarter. Finally, Fifth Third Bancorp acquired a new stake in shares of CAVA Group in the 2nd quarter valued at approximately $38,000. 73.15% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

CAVA has been the subject of a number of research reports. TD Cowen dropped their price target on CAVA Group from $80.00 to $67.00 and set a “buy” rating for the company in a research note on Wednesday, November 5th. UBS Group reduced their price target on CAVA Group from $75.00 to $61.00 and set a “neutral” rating on the stock in a report on Monday, November 3rd. Morgan Stanley set a $86.00 price objective on shares of CAVA Group in a report on Wednesday, November 5th. KeyCorp cut their target price on shares of CAVA Group from $85.00 to $65.00 and set an “overweight” rating on the stock in a research report on Wednesday, November 5th. Finally, Royal Bank Of Canada set a $70.00 price target on shares of CAVA Group in a research report on Wednesday, November 5th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and nine have given a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $81.75.

CAVA Group Price Performance

Shares of CAVA stock opened at $45.46 on Thursday. The firm has a 50-day moving average of $58.94 and a 200-day moving average of $73.47. CAVA Group, Inc. has a one year low of $44.26 and a one year high of $153.34. The company has a market cap of $5.27 billion, a P/E ratio of 39.19, a P/E/G ratio of 2.55 and a beta of 2.47.

CAVA Group (NYSE:CAVA) last issued its quarterly earnings data on Tuesday, November 4th. The company reported $0.12 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.01). CAVA Group had a return on equity of 8.88% and a net margin of 12.14%.The firm had revenue of $292.24 million during the quarter, compared to the consensus estimate of $292.88 million. During the same period in the previous year, the company posted $0.15 earnings per share. The company’s revenue for the quarter was up 19.9% on a year-over-year basis. As a group, research analysts expect that CAVA Group, Inc. will post 0.5 earnings per share for the current fiscal year.

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.