Econ Financial Services Corp Acquires 3,790 Shares of CAVA Group, Inc. $CAVA

Econ Financial Services Corp lifted its holdings in CAVA Group, Inc. (NYSE:CAVA) by 49.8% during the second quarter, HoldingsChannel reports. The firm owned 11,408 shares of the company’s stock after purchasing an additional 3,790 shares during the period. Econ Financial Services Corp’s holdings in CAVA Group were worth $961,000 as of its most recent filing with the SEC.

Other institutional investors have also made changes to their positions in the company. First Horizon Advisors Inc. increased its stake in shares of CAVA Group by 1,400.0% in the first quarter. First Horizon Advisors Inc. now owns 285 shares of the company’s stock worth $25,000 after purchasing an additional 266 shares during the period. Vision Financial Markets LLC bought a new position in shares of CAVA Group in the first quarter worth about $26,000. Dagco Inc. bought a new position in shares of CAVA Group in the first quarter worth about $27,000. Brooklyn Investment Group increased its stake in shares of 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 during the period. Finally, Fifth Third Bancorp bought a new position in shares of CAVA Group in the second quarter worth about $38,000. 73.15% of the stock is currently owned by institutional investors.

CAVA Group Trading Down 1.2%

NYSE CAVA opened at $62.21 on Wednesday. The stock’s 50 day moving average is $64.37 and its two-hundred day moving average is $77.86. The company has a market capitalization of $7.21 billion, a price-to-earnings ratio of 52.28, a PEG ratio of 3.63 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.

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 analysts’ consensus estimates of $0.13 by $0.03. The company had revenue of $280.62 million for the quarter, compared to the consensus estimate of $285.65 million. CAVA Group had a return on equity of 9.83% and a net margin of 12.98%.The company’s quarterly revenue was up 20.2% on a year-over-year basis. During the same period in the previous year, the business earned $0.17 earnings per share. On average, analysts predict that CAVA Group, Inc. will post 0.5 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on CAVA. Barclays dropped their price objective on CAVA Group from $74.00 to $64.00 and set an “equal weight” rating on the stock in a research note on Wednesday, October 22nd. 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 target price on the stock. Cfra Research raised CAVA Group to a “strong-buy” rating in a research report on Thursday, August 14th. Robert W. Baird set a $95.00 target price on CAVA Group in a research report on Wednesday, August 13th. Finally, Argus set a $76.00 target price on CAVA Group in a research report on Tuesday, September 2nd. One analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and ten have given a Hold rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $92.30.

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.