IFP Advisors Inc Sells 2,462 Shares of CAVA Group, Inc. $CAVA

IFP Advisors Inc lowered its stake in shares of CAVA Group, Inc. (NYSE:CAVA) by 54.2% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,078 shares of the company’s stock after selling 2,462 shares during the period. IFP Advisors Inc’s holdings in CAVA Group were worth $175,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in CAVA. First Horizon Advisors Inc. lifted its holdings in shares of CAVA Group by 1,400.0% during the 1st quarter. First Horizon Advisors Inc. now owns 285 shares of the company’s stock valued at $25,000 after purchasing an additional 266 shares in the last quarter. Vision Financial Markets LLC bought a new position in shares of CAVA Group during the 1st quarter valued at about $26,000. Dagco Inc. bought a new position in shares of CAVA Group during the 1st quarter valued at about $27,000. Brooklyn Investment Group lifted its holdings in shares of CAVA Group by 168.0% during the 1st quarter. Brooklyn Investment Group now owns 402 shares of the company’s stock valued at $35,000 after purchasing an additional 252 shares in the last quarter. Finally, Fifth Third Bancorp bought a new position in shares of CAVA Group during the 2nd quarter valued at about $38,000. Institutional investors own 73.15% of the company’s stock.

CAVA Group Stock Down 0.3%

NYSE:CAVA opened at $63.18 on Friday. The firm has a market capitalization of $7.33 billion, a price-to-earnings ratio of 53.10, a price-to-earnings-growth ratio of 3.20 and a beta of 2.50. CAVA Group, Inc. has a twelve month low of $58.33 and a twelve month high of $172.43. The stock’s 50 day moving average price is $65.76 and its two-hundred day moving average price is $78.94.

CAVA Group (NYSE:CAVA) last posted its quarterly earnings results on Tuesday, August 12th. The company reported $0.16 earnings per share for the quarter, topping the consensus estimate of $0.13 by $0.03. The firm had revenue of $280.62 million for the quarter, compared to analyst estimates of $285.65 million. CAVA Group had a return on equity of 9.83% and a net margin of 12.98%.The business’s quarterly revenue was up 20.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.17 EPS. As a group, analysts anticipate that CAVA Group, Inc. will post 0.5 earnings per share for the current year.

Analyst Ratings Changes

Several research firms have recently weighed in on CAVA. Cfra Research upgraded CAVA Group to a “strong-buy” rating in a report on Thursday, August 14th. JPMorgan Chase & Co. cut their price objective on CAVA Group from $115.00 to $95.00 and set an “overweight” rating on the stock in a report on Wednesday, June 25th. Citigroup cut their price objective on CAVA Group from $102.00 to $88.00 and set a “neutral” rating on the stock in a report on Wednesday, August 13th. Barclays dropped their target price on CAVA Group from $91.00 to $74.00 and set an “equal weight” rating on the stock in a research report on Wednesday, August 13th. Finally, UBS Group dropped their target price on CAVA Group from $96.00 to $75.00 and set a “neutral” rating on the stock in a research report on Wednesday, August 13th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and eight have issued a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $95.50.

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.