Rossby Financial LCC Grows Position in CAVA Group, Inc. $CAVA

Rossby Financial LCC increased its position in CAVA Group, Inc. (NYSE:CAVA) by 32.3% in the second quarter, HoldingsChannel reports. The firm owned 2,050 shares of the company’s stock after purchasing an additional 500 shares during the quarter. Rossby Financial LCC’s holdings in CAVA Group were worth $173,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Bison Wealth LLC purchased a new position in CAVA Group during the fourth quarter valued at $208,000. GAMMA Investing LLC raised its stake in CAVA Group by 102.4% during the first quarter. GAMMA Investing LLC now owns 854 shares of the company’s stock valued at $74,000 after buying an additional 432 shares during the last quarter. Cambridge Investment Research Advisors Inc. raised its stake in CAVA Group by 1.8% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 32,888 shares of the company’s stock valued at $2,842,000 after buying an additional 567 shares during the last quarter. Oppenheimer Asset Management Inc. purchased a new position in CAVA Group during the first quarter valued at $370,000. Finally, Golden State Wealth Management LLC raised its stake in CAVA Group by 101.9% during the first quarter. Golden State Wealth Management LLC now owns 848 shares of the company’s stock valued at $73,000 after buying an additional 428 shares during the last quarter. Hedge funds and other institutional investors own 73.15% of the company’s stock.

CAVA Group Trading Down 1.2%

CAVA Group stock opened at $62.21 on Wednesday. The firm has a market cap of $7.21 billion, a price-to-earnings ratio of 52.28, a PEG ratio of 3.63 and a beta of 2.50. The stock has a fifty day simple moving average of $64.37 and a two-hundred day simple moving average of $77.86. CAVA Group, Inc. has a 12 month low of $58.33 and a 12 month high of $172.43.

CAVA Group (NYSE:CAVA) last posted its earnings results on Tuesday, August 12th. The company reported $0.16 EPS for the quarter, topping analysts’ consensus estimates of $0.13 by $0.03. The business had revenue of $280.62 million during 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 company’s quarterly revenue was up 20.2% compared to the same quarter last year. During the same quarter last year, the company earned $0.17 EPS. On average, equities research analysts forecast that CAVA Group, Inc. will post 0.5 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts have issued reports on the company. Barclays lowered their price objective on CAVA Group from $74.00 to $64.00 and set an “equal weight” rating for the company in a research note on Wednesday, October 22nd. Royal Bank Of Canada assumed coverage on CAVA Group in a research note on Wednesday, October 8th. They set an “outperform” rating and a $80.00 price objective for the company. Sanford C. Bernstein set a $74.00 price objective on CAVA Group in a research note on Wednesday, August 13th. KeyCorp lowered their price objective on CAVA Group from $100.00 to $85.00 and set an “overweight” rating for the company in a research note on Wednesday, August 13th. Finally, Citigroup reduced their target price on CAVA Group from $102.00 to $88.00 and set a “neutral” rating for the company in a report on Wednesday, August 13th. One analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and ten have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $92.30.

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.