Nordea Investment Management AB Has $2.80 Million Holdings in CAVA Group, Inc. $CAVA

Nordea Investment Management AB lifted its position in CAVA Group, Inc. (NYSE:CAVA) by 79.8% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 33,304 shares of the company’s stock after acquiring an additional 14,781 shares during the period. Nordea Investment Management AB’s holdings in CAVA Group were worth $2,799,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of CAVA. Bison Wealth LLC acquired a new stake in shares of CAVA Group in the 4th quarter valued at approximately $208,000. GAMMA Investing LLC raised its holdings in CAVA Group by 102.4% during the 1st quarter. GAMMA Investing LLC now owns 854 shares of the company’s stock worth $74,000 after buying an additional 432 shares during the period. State of Alaska Department of Revenue acquired a new stake in CAVA Group during the 1st quarter worth approximately $823,000. Cambridge Investment Research Advisors Inc. raised its holdings in CAVA Group by 1.8% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 32,888 shares of the company’s stock worth $2,842,000 after buying an additional 567 shares during the period. Finally, Oppenheimer Asset Management Inc. acquired a new stake in CAVA Group during the 1st quarter worth approximately $370,000. 73.15% of the stock is currently owned by institutional investors and hedge funds.

CAVA Group Stock Down 1.7%

Shares of CAVA opened at $64.35 on Thursday. The stock has a market capitalization of $7.46 billion, a P/E ratio of 54.07, a P/E/G ratio of 3.37 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 company has a 50 day moving average of $64.84 and a 200-day moving average of $78.55.

CAVA Group (NYSE:CAVA) last issued 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 company had revenue of $280.62 million during the quarter, compared to analysts’ expectations of $285.65 million. CAVA Group had a net margin of 12.98% and a return on equity of 9.83%. The business’s quarterly revenue was up 20.2% on a year-over-year basis. During the same period last year, the business earned $0.17 EPS. On average, sell-side analysts anticipate that CAVA Group, Inc. will post 0.5 earnings per share for the current fiscal year.

Analysts Set New Price Targets

CAVA has been the topic of several research analyst reports. Robert W. Baird set a $95.00 target price on shares of CAVA Group in a report on Wednesday, August 13th. Barclays dropped their target price on shares of CAVA Group from $74.00 to $64.00 and set an “equal weight” rating on the stock in a report on Wednesday. Morgan Stanley dropped their target price on shares of CAVA Group from $97.00 to $95.00 and set an “equal weight” rating on the stock in a report on Tuesday. TD Cowen dropped their target price on shares of CAVA Group from $120.00 to $90.00 and set a “buy” rating on the stock in a report on Wednesday, August 13th. Finally, Citigroup dropped their target price on shares of CAVA Group from $102.00 to $88.00 and set a “neutral” rating on the stock in a report on Wednesday, August 13th. One analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and nine have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $93.74.

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.