CAVA Group, Inc. $CAVA Holdings Lifted by Handelsbanken Fonder AB

Handelsbanken Fonder AB boosted its holdings in shares of CAVA Group, Inc. (NYSE:CAVA) by 17.6% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 24,000 shares of the company’s stock after buying an additional 3,600 shares during the period. Handelsbanken Fonder AB’s holdings in CAVA Group were worth $2,022,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of the business. Vanguard Group Inc. increased its holdings in shares of CAVA Group by 13.2% in the 1st quarter. Vanguard Group Inc. now owns 9,065,782 shares of the company’s stock valued at $783,374,000 after purchasing an additional 1,054,180 shares during the period. Price T Rowe Associates Inc. MD increased its stake in CAVA Group by 114.4% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 2,394,561 shares of the company’s stock valued at $206,915,000 after buying an additional 1,277,912 shares during the period. Geode Capital Management LLC increased its stake in CAVA Group by 16.2% in the 2nd quarter. Geode Capital Management LLC now owns 1,622,898 shares of the company’s stock valued at $136,715,000 after buying an additional 226,785 shares during the period. Alliancebernstein L.P. lifted its position in CAVA Group by 2,072.1% in the 1st quarter. Alliancebernstein L.P. now owns 852,691 shares of the company’s stock worth $73,681,000 after buying an additional 813,434 shares in the last quarter. Finally, Nuveen LLC acquired a new stake in shares of CAVA Group during the 1st quarter valued at $72,800,000. 73.15% of the stock is currently owned by institutional investors and hedge funds.

CAVA Group Stock Performance

CAVA opened at $49.74 on Thursday. The company has a market cap of $5.77 billion, a PE ratio of 42.88, a price-to-earnings-growth ratio of 2.75 and a beta of 2.47. The stock has a 50-day moving average of $57.38 and a 200-day moving average of $71.83. CAVA Group, Inc. has a 52-week low of $43.41 and a 52-week high of $153.34.

CAVA Group (NYSE:CAVA) last issued 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 net margin of 12.14% and a return on equity of 8.88%. The company had revenue of $292.24 million during the quarter, compared to the consensus estimate of $292.88 million. During the same period in the previous year, the business posted $0.15 earnings per share. The firm’s revenue was up 19.9% on a year-over-year basis. On average, research analysts predict that CAVA Group, Inc. will post 0.5 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on CAVA. Robert W. Baird set a $95.00 price target on shares of CAVA Group in a research note on Wednesday, August 13th. Stifel Nicolaus set a $75.00 target price on CAVA Group in a research note on Wednesday, November 5th. Mizuho raised CAVA Group to a “hold” rating in a research report on Tuesday, October 28th. Sanford C. Bernstein reduced their price target on CAVA Group from $100.00 to $80.00 and set an “outperform” rating for the company in a report on Wednesday, November 5th. Finally, TD Cowen lowered their price target on CAVA Group from $80.00 to $67.00 and set a “buy” rating for the company in a research note on Wednesday, November 5th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and nine have assigned a Hold rating to the stock. According to MarketBeat.com, CAVA Group presently 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.