Amalgamated Bank Boosts Stock Position in CAVA Group, Inc. $CAVA

Amalgamated Bank boosted its stake in shares of CAVA Group, Inc. (NYSE:CAVA) by 4.9% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 40,772 shares of the company’s stock after purchasing an additional 1,918 shares during the quarter. Amalgamated Bank’s holdings in CAVA Group were worth $3,434,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of the stock. Vanguard Group Inc. increased its holdings in CAVA Group by 13.2% during the 1st quarter. Vanguard Group Inc. now owns 9,065,782 shares of the company’s stock worth $783,374,000 after purchasing an additional 1,054,180 shares during the period. Jennison Associates LLC increased its holdings in CAVA Group by 246.1% during the 1st quarter. Jennison Associates LLC now owns 8,519,459 shares of the company’s stock worth $736,166,000 after purchasing an additional 6,057,727 shares during the period. Price T Rowe Associates Inc. MD increased its holdings in CAVA Group by 114.4% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 2,394,561 shares of the company’s stock worth $206,915,000 after purchasing an additional 1,277,912 shares during the period. Alliancebernstein L.P. increased its holdings in CAVA Group by 2,072.1% during the 1st quarter. Alliancebernstein L.P. now owns 852,691 shares of the company’s stock worth $73,681,000 after purchasing an additional 813,434 shares during the period. Finally, Nuveen LLC purchased a new stake in CAVA Group during the 1st quarter worth about $72,800,000. Hedge funds and other institutional investors own 73.15% of the company’s stock.

CAVA Group Stock Down 2.2%

Shares of NYSE CAVA opened at $52.56 on Tuesday. The stock has a market cap of $6.09 billion, a PE ratio of 44.17, a price-to-earnings-growth ratio of 3.09 and a beta of 2.50. CAVA Group, Inc. has a 52-week low of $51.37 and a 52-week high of $172.43. The business has a 50-day moving average price of $63.38 and a 200 day moving average price of $76.87.

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

Analyst Ratings Changes

Several research analysts have recently issued reports on the company. Melius assumed coverage on CAVA Group in a research report on Monday, July 14th. They set a “hold” rating and a $95.00 price objective for the company. Argus set a $76.00 price objective on CAVA Group in a research report on Tuesday, September 2nd. UBS Group lowered their price objective on CAVA Group from $75.00 to $61.00 and set a “neutral” rating for the company in a research report on Monday. Stifel Nicolaus lowered their price objective on CAVA Group from $125.00 to $100.00 and set a “buy” rating for the company in a research report on Friday. Finally, Citigroup lowered 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. One equities research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and ten have given a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $90.35.

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.