Police & Firemen s Retirement System of New Jersey Increases Stake in CAVA Group, Inc. $CAVA

Police & Firemen s Retirement System of New Jersey boosted its stake in CAVA Group, Inc. (NYSE:CAVA) by 39.0% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 37,969 shares of the company’s stock after buying an additional 10,645 shares during the period. Police & Firemen s Retirement System of New Jersey’s holdings in CAVA Group were worth $3,198,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of CAVA. Vision Financial Markets LLC bought a new position in shares of CAVA Group in the 1st quarter worth approximately $26,000. Dagco Inc. bought a new stake in shares of CAVA Group during the first quarter valued at approximately $27,000. Atlantic Union Bankshares Corp purchased a new stake in CAVA Group in the second quarter worth $31,000. Brooklyn Investment Group raised its holdings in CAVA Group by 168.0% in the first quarter. Brooklyn Investment Group now owns 402 shares of the company’s stock worth $35,000 after purchasing an additional 252 shares in the last quarter. Finally, Fifth Third Bancorp bought a new position in CAVA Group in the second quarter worth $38,000. 73.15% of the stock is owned by institutional investors.

CAVA Group Stock Performance

NYSE:CAVA opened at $45.28 on Tuesday. The firm has a market cap of $5.25 billion, a P/E ratio of 39.03, a P/E/G ratio of 2.67 and a beta of 2.48. CAVA Group, Inc. has a fifty-two week low of $44.71 and a fifty-two week high of $153.34. The firm has a 50-day simple moving average of $59.74 and a two-hundred day simple moving average of $74.03.

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

Analyst Ratings Changes

CAVA has been the topic of a number of research reports. Morgan Stanley set a $86.00 target price on shares of CAVA Group in a report on Wednesday, November 5th. KeyCorp dropped their price objective on shares of CAVA Group from $85.00 to $65.00 and set an “overweight” rating on the stock in a research note on Wednesday, November 5th. Piper Sandler cut their price objective on shares of CAVA Group from $100.00 to $71.00 and set an “overweight” rating on the stock in a report on Wednesday, November 5th. Argus decreased their target price on shares of CAVA Group from $76.00 to $60.00 and set a “buy” rating for the company in a research note on Thursday, November 13th. Finally, Stifel Nicolaus set a $75.00 price target on 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 given a Buy rating and nine have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $81.75.

CAVA Group 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.