Stratos Wealth Partners LTD. Increases Holdings in CAVA Group, Inc. $CAVA

Stratos Wealth Partners LTD. raised its stake in CAVA Group, Inc. (NYSE:CAVA) by 98.6% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 10,795 shares of the company’s stock after purchasing an additional 5,359 shares during the period. Stratos Wealth Partners LTD.’s holdings in CAVA Group were worth $909,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Maryland State Retirement & Pension System lifted its holdings in shares of CAVA Group by 37.5% during the second quarter. Maryland State Retirement & Pension System now owns 4,850 shares of the company’s stock worth $409,000 after purchasing an additional 1,324 shares during the period. PNC Financial Services Group Inc. raised its stake in shares of CAVA Group by 123.4% during the 1st quarter. PNC Financial Services Group Inc. now owns 5,458 shares of the company’s stock worth $472,000 after buying an additional 3,015 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of CAVA Group by 5.1% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 554,934 shares of the company’s stock worth $47,952,000 after buying an additional 27,066 shares during the last quarter. Lewis Asset Management LLC acquired a new position in shares of CAVA Group during the 2nd quarter worth $504,000. Finally, KLP Kapitalforvaltning AS increased its position in CAVA Group by 5.0% during the 2nd quarter. KLP Kapitalforvaltning AS now owns 18,800 shares of the company’s stock worth $1,584,000 after purchasing an additional 900 shares in the last quarter. 73.15% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts recently commented on the company. Bank of America dropped their price objective on CAVA Group from $121.00 to $100.00 and set a “buy” rating for the company in a research report on Wednesday, August 13th. TD Cowen dropped their price objective on CAVA Group from $120.00 to $90.00 and set a “buy” rating for the company in a research report on Wednesday, August 13th. Morgan Stanley set a $95.00 price objective on CAVA Group in a research report on Tuesday. Royal Bank Of Canada assumed coverage on CAVA Group in a research report on Wednesday, October 8th. They set an “outperform” rating and a $80.00 price objective for the company. Finally, Robert W. Baird set a $95.00 price target on CAVA Group 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 given a Hold rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $94.26.

CAVA Group Price Performance

NYSE CAVA opened at $65.53 on Wednesday. The firm has a market capitalization of $7.60 billion, a P/E ratio of 55.06, a P/E/G ratio of 3.19 and a beta of 2.50. CAVA Group, Inc. has a 1-year low of $58.33 and a 1-year high of $172.43. The business’s 50-day simple moving average is $64.96 and its 200-day simple moving average is $78.65.

CAVA Group (NYSE:CAVA) last released its quarterly earnings data on Tuesday, August 12th. The company reported $0.16 earnings per share for the quarter, beating the consensus estimate of $0.13 by $0.03. The business had revenue of $280.62 million for 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 revenue was up 20.2% compared to the same quarter last year. During the same period in the previous year, the company posted $0.17 EPS. On average, equities research analysts expect that CAVA Group, Inc. will post 0.5 EPS for the current fiscal year.

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.