Invus Public Equities Advisors LL recently announced the acquisition of new stake in CAVA Group Inc. (NYSE:CAVA). This fresh investment now brings its stake to 28.74% valued currently at $1.83 billion. In addition, T. Rowe Price Investment Manageme raised its holdings by 12.67 million to 12.67 million shares.
With over 4.15 million CAVA Group Inc. (CAVA) shares trading Tuesday and a closing price of $35.99 on the day, the dollar volume was approximately $149.27 million. Currently, there are 113.58M common shares owned by the public and among those 112.44M shares have been available to trade.
Top 5 EV Tech Stocks to Buy for 2023
The electric vehicle boom is accelerating – and fast. According a new report published by BloombergNEF, annual spending on passenger EVs hit $388 billion in 2022, up 53% from the year before. Like we said, the boom is accelerating – and the time to buy EV-related tech stocks is now. Get our free report, "Top 5 EV Tech Stocks to Buy for 2023".
Click Here to Download the FREE Report.
Sponsored
An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 9 analysts who have offered their price forecasts for CAVA have a consensus price objective of $51.00. The analysts have set the share’s price value over the next 12 months at a high of $58.00 and a low of $45.00. The average price target is 29.43% above its recent price level and an upside to the estimated low will see the stock gain 20.02% over that period. But an upside of 37.95% will see the stock hit the forecast high price target while median target price for the stock is $52.00.
The top 3 mutual fund holders in CAVA Group Inc. are T Rowe Price New Horizons Fund, T Rowe Price Small Cap Value Fund, and T Rowe Price Small Cap Stock Fund. T Rowe Price New Horizons Fund owns 4.82 million shares of the company’s stock, all valued at over $275.42 million. The company bought an additional 4.82 million shares recently to bring their total holdings to about 4.33% of the shares outstanding. T Rowe Price Small Cap Stock Fund bought 3.2 million shares to bring its total holdings to over 3.2 million shares at a value of $182.58 million. T Rowe Price Small Cap Stock Fund now owns shares totaling to 2.87% of the shares outstanding.
Shares of CAVA Group Inc. (NYSE: CAVA) opened at $36.94, down -$0.62 from a prior closing price of $37.56. However, the script later moved the day high at 37.24, down -4.18%. It has a 12-month low price of $36.45 and touched a high of $58.10 over the same period. CAVA has an average intraday trading volume of 2.06 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -16.58%, -22.72%, and -21.21% respectively.
Institutional ownership of CAVA Group Inc. (NYSE: CAVA) shares accounts for 14.60% of the company’s 113.58M shares outstanding. Mutual fund holders own 19.95%, while other institutional holders and individual stakeholders account for 37.29% and — respectively.
It has a market capitalization of $4.28B. The earnings-per-share (ttm) stands at -$0.22. Price movements for the stock have been influenced by the stock’s volatility, which stands at 4.65% over the week and 6.20% over the month.
Analysts forecast that CAVA Group Inc. (CAVA) will achieve an EPS of -$0.01 for the current quarter, -$0.02 for the next quarter and $0.02 for 2024. The lowest estimate earnings-per-share for the quarter is -$0.03 while analysts give the company a high EPS estimate of $0.02. Earnings per share for the fiscal year are expected to decrease by -57.80%, and -69.51% over the next financial year.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 9 brokerage firm advisors rate CAVA Group Inc. (CAVA) as a “Strong Buy” at a consensus score of 1.90. Specifically, 5 Wall Street analysts polled rate the stock as a buy, while 3 of the 9 advise that investors “hold,” and 0 rated it as a “Sell.”
