CAVA Group, Inc. $CAVA Shares Sold by Sowell Financial Services LLC

Sowell Financial Services LLC lessened its holdings in CAVA Group, Inc. (NYSE:CAVA) by 15.0% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 6,683 shares of the company’s stock after selling 1,176 shares during the period. Sowell Financial Services LLC’s holdings in CAVA Group were worth $563,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the stock. Farther Finance Advisors LLC increased its stake in shares of CAVA Group by 44.7% during the second quarter. Farther Finance Advisors LLC now owns 3,141 shares of the company’s stock worth $265,000 after buying an additional 970 shares during the period. UMB Bank n.a. increased its holdings in CAVA Group by 338.9% in the second quarter. UMB Bank n.a. now owns 834 shares of the company’s stock valued at $70,000 after buying an additional 644 shares during the last quarter. Diversified Trust Co boosted its position in shares of CAVA Group by 106.9% during the 2nd quarter. Diversified Trust Co now owns 7,742 shares of the company’s stock worth $652,000 after acquiring an additional 4,000 shares in the last quarter. Wealth Enhancement Advisory Services LLC raised its position in shares of CAVA Group by 0.4% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 59,552 shares of the company’s stock worth $5,152,000 after acquiring an additional 264 shares in the last quarter. Finally, Signal Advisors Wealth LLC purchased a new stake in CAVA Group during the second quarter worth approximately $1,032,000. 73.15% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have recently issued reports on CAVA shares. Barclays lowered their target price on shares of CAVA Group from $91.00 to $74.00 and set an “equal weight” rating for the company in a report on Wednesday, August 13th. Stifel Nicolaus reduced their price objective on CAVA Group from $175.00 to $125.00 and set a “buy” rating for the company in a research note on Wednesday, June 18th. UBS Group reduced their price target on shares of CAVA Group from $96.00 to $75.00 and set a “neutral” rating for the company in a research report on Wednesday, August 13th. Argus set a $76.00 price objective on shares of CAVA Group in a research report on Tuesday, September 2nd. Finally, Sanford C. Bernstein set a $74.00 target price on shares of CAVA Group in a research note on Wednesday, August 13th. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and seven have given a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $96.41.

CAVA Group Stock Performance

CAVA Group stock opened at $63.42 on Thursday. The business has a fifty day moving average of $74.23 and a two-hundred day moving average of $81.33. The company has a market cap of $7.35 billion, a P/E ratio of 53.30, a price-to-earnings-growth ratio of 3.26 and a beta of 2.61. CAVA Group, Inc. has a one year low of $61.90 and a one year high of $172.43.

CAVA Group (NYSE:CAVA) last released its quarterly earnings data on Tuesday, August 12th. The company reported $0.16 EPS for the quarter, topping analysts’ consensus estimates of $0.13 by $0.03. CAVA Group had a net margin of 12.98% and a return on equity of 9.83%. The firm had revenue of $280.62 million for the quarter, compared to the consensus estimate of $285.65 million. During the same quarter in the previous year, the firm earned $0.17 earnings per share. The firm’s revenue was up 20.2% on a year-over-year basis. Sell-side analysts predict that CAVA Group, Inc. will post 0.5 EPS for the current year.

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.