First National Trust Co Takes $345,000 Position in CAVA Group, Inc. $CAVA

First National Trust Co bought a new stake in CAVA Group, Inc. (NYSE:CAVA) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 4,100 shares of the company’s stock, valued at approximately $345,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. First Horizon Advisors Inc. grew its position in CAVA Group by 1,400.0% during the 1st 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 last quarter. Vision Financial Markets LLC acquired a new stake in shares of CAVA Group during the first quarter worth about $26,000. Dagco Inc. purchased a new position in shares of CAVA Group during the first quarter worth about $27,000. Brooklyn Investment Group increased its position in CAVA Group by 168.0% in the 1st quarter. Brooklyn Investment Group now owns 402 shares of the company’s stock valued at $35,000 after acquiring an additional 252 shares during the period. Finally, Fifth Third Bancorp acquired a new position in CAVA Group in the 2nd quarter valued at about $38,000. Hedge funds and other institutional investors own 73.15% of the company’s stock.

CAVA Group Stock Performance

CAVA Group stock opened at $60.46 on Thursday. The company has a market cap of $7.01 billion, a P/E ratio of 50.80, a price-to-earnings-growth ratio of 3.58 and a beta of 2.50. CAVA Group, Inc. has a one year low of $58.33 and a one year high of $172.43. The business has a fifty day moving average of $64.20 and a two-hundred day moving average of $77.65.

CAVA Group (NYSE:CAVA) last posted its quarterly earnings results on Tuesday, August 12th. The company reported $0.16 earnings per share for the quarter, topping analysts’ consensus estimates of $0.13 by $0.03. The business had revenue of $280.62 million for 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 revenue for the quarter was up 20.2% on a year-over-year basis. During the same period in the prior year, the company posted $0.17 EPS. Sell-side analysts predict that CAVA Group, Inc. will post 0.5 EPS for the current year.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the company. Argus set a $76.00 target price on CAVA Group in a research note on Tuesday, September 2nd. UBS Group lowered their price objective on shares of CAVA Group from $96.00 to $75.00 and set a “neutral” rating on the stock in a research report on Wednesday, August 13th. The Goldman Sachs Group assumed coverage on shares of CAVA Group in a research note on Monday, October 20th. They issued a “neutral” rating and a $74.00 price objective on the stock. Cfra Research upgraded shares of CAVA Group to a “strong-buy” rating in a research note on Thursday, August 14th. Finally, Citigroup lowered 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 investment analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and ten have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $92.30.

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.