CAVA Group, Inc. (NYSE:CAVA) Shares Sold by Voloridge Investment Management LLC

Voloridge Investment Management LLC decreased its position in shares of CAVA Group, Inc. (NYSE:CAVA) by 9.5% in the fourth quarter, HoldingsChannel reports. The firm owned 1,488,984 shares of the company’s stock after selling 156,078 shares during the quarter. CAVA Group accounts for 0.6% of Voloridge Investment Management LLC’s portfolio, making the stock its 20th biggest position. Voloridge Investment Management LLC’s holdings in CAVA Group were worth $167,957,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of CAVA. Vanguard Group Inc. lifted its holdings in CAVA Group by 20.4% in the fourth quarter. Vanguard Group Inc. now owns 8,011,602 shares of the company’s stock valued at $903,709,000 after acquiring an additional 1,357,187 shares during the period. FMR LLC lifted its holdings in CAVA Group by 14.1% in the fourth quarter. FMR LLC now owns 3,976,353 shares of the company’s stock valued at $448,533,000 after acquiring an additional 491,320 shares during the period. Jennison Associates LLC lifted its holdings in CAVA Group by 36,658.7% in the fourth quarter. Jennison Associates LLC now owns 2,461,732 shares of the company’s stock valued at $277,683,000 after acquiring an additional 2,455,035 shares during the period. Federated Hermes Inc. lifted its holdings in CAVA Group by 33.0% in the fourth quarter. Federated Hermes Inc. now owns 1,464,987 shares of the company’s stock valued at $165,243,000 after acquiring an additional 363,814 shares during the period. Finally, Lord Abbett & CO. LLC lifted its holdings in CAVA Group by 2.3% in the fourth quarter. Lord Abbett & CO. LLC now owns 1,389,327 shares of the company’s stock valued at $156,716,000 after acquiring an additional 31,077 shares during the period. Institutional investors and hedge funds own 73.15% of the company’s stock.

CAVA Group Stock Performance

Shares of CAVA opened at $90.03 on Tuesday. CAVA Group, Inc. has a one year low of $70.00 and a one year high of $172.43. The stock has a market capitalization of $10.41 billion, a price-to-earnings ratio of 195.72 and a beta of 3.28. The stock has a 50 day moving average price of $88.22 and a 200 day moving average price of $111.32.

CAVA Group (NYSE:CAVA) last issued its quarterly earnings results on Thursday, May 15th. The company reported $0.22 EPS for the quarter, topping the consensus estimate of $0.14 by $0.08. CAVA Group had a return on equity of 9.10% and a net margin of 5.88%. The firm had revenue of $331.83 million during the quarter, compared to analysts’ expectations of $327.98 million. During the same period in the previous year, the business earned $0.12 earnings per share. The firm’s revenue for the quarter was up 28.1% on a year-over-year basis. On average, analysts predict that CAVA Group, Inc. will post 0.5 earnings per share for the current year.

Analysts Set New Price Targets

CAVA has been the subject of a number of analyst reports. Robert W. Baird boosted their price target on CAVA Group from $105.00 to $115.00 and gave the company an “outperform” rating in a report on Friday. Piper Sandler raised CAVA Group from a “neutral” rating to an “overweight” rating and decreased their price target for the company from $142.00 to $115.00 in a report on Friday, February 28th. Citigroup boosted their price target on CAVA Group from $114.00 to $115.00 and gave the company a “neutral” rating in a report on Friday. William Blair reaffirmed an “outperform” rating on shares of CAVA Group in a research note on Wednesday, February 26th. Finally, Sanford C. Bernstein raised CAVA Group from a “market perform” rating to an “outperform” rating and set a $115.00 target price for the company in a research note on Wednesday, April 23rd. Five equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, CAVA Group has an average rating of “Moderate Buy” and an average target price of $123.00.

Insider Buying and Selling

In other CAVA Group news, insider Theodoros Xenohristos sold 9,348 shares of the company’s stock in a transaction on Friday, May 9th. The stock was sold at an average price of $94.88, for a total value of $886,938.24. Following the completion of the sale, the insider now directly owns 353,271 shares in the company, valued at $33,518,352.48. This represents a 2.58% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 6.80% of the stock is owned by company insiders.

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.