CAVA Group, Inc. $CAVA Shares Acquired by Harbour Investments Inc.

Harbour Investments Inc. grew its holdings in CAVA Group, Inc. (NYSE:CAVA) by 135.5% during the 2nd quarter, Holdings Channel reports. The fund owned 2,108 shares of the company’s stock after purchasing an additional 1,213 shares during the period. Harbour Investments Inc.’s holdings in CAVA Group were worth $178,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in the company. Whittier Trust Co. of Nevada Inc. lifted its stake in shares of CAVA Group by 37.3% in the 1st quarter. Whittier Trust Co. of Nevada Inc. now owns 530 shares of the company’s stock valued at $46,000 after purchasing an additional 144 shares during the period. World Investment Advisors raised its position in shares of CAVA Group by 6.3% in the first quarter. World Investment Advisors now owns 3,565 shares of the company’s stock valued at $308,000 after buying an additional 210 shares during the last quarter. Dearborn Partners LLC raised its position in shares of CAVA Group by 10.4% in the first quarter. Dearborn Partners LLC now owns 2,449 shares of the company’s stock valued at $212,000 after buying an additional 230 shares during the last quarter. Cim LLC grew its holdings in shares of CAVA Group by 2.6% in the first quarter. Cim LLC now owns 9,755 shares of the company’s stock valued at $843,000 after purchasing an additional 247 shares during the period. Finally, Brooklyn Investment Group grew its holdings in shares of 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 purchasing an additional 252 shares during the period. 73.15% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on CAVA shares. KeyCorp lowered their target price on shares of CAVA Group from $100.00 to $85.00 and set an “overweight” rating for the company in a research note on Wednesday, August 13th. Royal Bank Of Canada began coverage on shares of CAVA Group in a report on Wednesday, October 8th. They issued an “outperform” rating and a $80.00 target price on the stock. Bank of America cut their price objective on shares of CAVA Group from $121.00 to $100.00 and set a “buy” rating on the stock in a report on Wednesday, August 13th. Robert W. Baird set a $95.00 target price on shares of CAVA Group in a research report on Wednesday, August 13th. Finally, Cfra Research upgraded shares of CAVA Group to a “strong-buy” rating in a research report on Thursday, August 14th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and nine have assigned a Hold rating to the company. According to data from MarketBeat.com, CAVA Group presently has a consensus rating of “Moderate Buy” and a consensus price target of $93.74.

CAVA Group Price Performance

Shares of NYSE CAVA opened at $64.35 on Thursday. CAVA Group, Inc. has a 1-year low of $58.33 and a 1-year high of $172.43. The business’s fifty day moving average price is $64.84 and its two-hundred day moving average price is $78.55. The firm has a market capitalization of $7.46 billion, a PE ratio of 54.07, a P/E/G ratio of 3.37 and a beta of 2.50.

CAVA Group (NYSE:CAVA) last released its quarterly earnings results on Tuesday, August 12th. The company reported $0.16 earnings per share (EPS) for the quarter, topping the consensus estimate 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 analysts’ expectations of $285.65 million. During the same quarter in the prior year, the business posted $0.17 earnings per share. The company’s revenue for the quarter was up 20.2% compared to the same quarter last year. Equities 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.