Geode Capital Management LLC Increases Holdings in CAVA Group, Inc. $CAVA

Geode Capital Management LLC boosted its position in shares of CAVA Group, Inc. (NYSE:CAVA) by 16.2% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,622,898 shares of the company’s stock after purchasing an additional 226,785 shares during the quarter. Geode Capital Management LLC’s holdings in CAVA Group were worth $136,715,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Vanguard Group Inc. grew its position in shares of 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 buying an additional 1,054,180 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its stake in CAVA Group by 114.4% in the first quarter. Price T Rowe Associates Inc. MD now owns 2,394,561 shares of the company’s stock worth $206,915,000 after acquiring an additional 1,277,912 shares during the period. Alliancebernstein L.P. lifted its stake in CAVA Group by 2,072.1% in the first quarter. Alliancebernstein L.P. now owns 852,691 shares of the company’s stock worth $73,681,000 after acquiring an additional 813,434 shares during the period. Nuveen LLC bought a new position in CAVA Group during the 1st quarter worth about $72,800,000. Finally, Bank of New York Mellon Corp increased its position in CAVA Group by 52.9% during the 2nd quarter. Bank of New York Mellon Corp now owns 824,316 shares of the company’s stock valued at $69,432,000 after purchasing an additional 285,294 shares during the period. 73.15% of the stock is owned by institutional investors.

CAVA Group Trading Up 0.9%

Shares of CAVA stock opened at $45.46 on Thursday. CAVA Group, Inc. has a 12-month low of $44.26 and a 12-month high of $153.34. The business’s fifty day simple moving average is $58.94 and its 200-day simple moving average is $73.47. The company has a market cap of $5.27 billion, a PE ratio of 39.19, a PEG ratio of 2.55 and a beta of 2.47.

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

Analyst Upgrades and Downgrades

CAVA has been the subject of several research reports. KeyCorp lowered their price target on shares of CAVA Group from $85.00 to $65.00 and set an “overweight” rating for the company in a research report on Wednesday, November 5th. Bank of America reduced their price objective on shares of CAVA Group from $121.00 to $100.00 and set a “buy” rating for the company in a research note on Wednesday, August 13th. Citigroup reaffirmed a “neutral” rating on shares of CAVA Group in a research report on Wednesday, November 12th. Mizuho upgraded CAVA Group to a “hold” rating in a report on Tuesday, October 28th. Finally, Morgan Stanley set a $86.00 price objective on CAVA Group in a research note on Wednesday, November 5th. One analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and nine have given a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $81.75.

About CAVA Group

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.