Voleon Capital Management LP Invests $6.60 Million in CAVA Group, Inc. (NYSE:CAVA)

Voleon Capital Management LP bought a new position in shares of CAVA Group, Inc. (NYSE:CAVA) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 58,550 shares of the company’s stock, valued at approximately $6,604,000. Voleon Capital Management LP owned approximately 0.05% of CAVA Group at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Charles Schwab Investment Management Inc. raised its stake in shares of CAVA Group by 2.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 527,868 shares of the company’s stock worth $59,544,000 after buying an additional 11,776 shares in the last quarter. Entropy Technologies LP purchased a new position in shares of CAVA Group during the 4th quarter worth approximately $2,097,000. Empowered Funds LLC acquired a new stake in shares of CAVA Group in the 4th quarter worth approximately $5,007,000. Legacy Capital Wealth Partners LLC grew its holdings in shares of CAVA Group by 71.9% in the 4th quarter. Legacy Capital Wealth Partners LLC now owns 13,658 shares of the company’s stock worth $1,541,000 after acquiring an additional 5,712 shares during the period. Finally, Jennison Associates LLC grew its holdings in shares of CAVA Group by 36,658.7% in the 4th quarter. Jennison Associates LLC now owns 2,461,732 shares of the company’s stock worth $277,683,000 after acquiring an additional 2,455,035 shares during the period. 73.15% of the stock is owned by hedge funds and other institutional investors.

CAVA Group Stock Down 1.4 %

CAVA stock opened at $91.89 on Wednesday. CAVA Group, Inc. has a 52-week low of $66.15 and a 52-week high of $172.43. The stock’s fifty day simple moving average is $86.70 and its 200-day simple moving average is $115.34. The stock has a market capitalization of $10.62 billion, a price-to-earnings ratio of 199.76 and a beta of 3.33.

CAVA Group (NYSE:CAVA) last issued its earnings results on Tuesday, February 25th. The company reported $0.05 earnings per share for the quarter, missing the consensus estimate of $0.06 by ($0.01). The firm had revenue of $227.40 million during the quarter, compared to analysts’ expectations of $223.34 million. CAVA Group had a return on equity of 9.10% and a net margin of 5.88%. As a group, analysts anticipate that CAVA Group, Inc. will post 0.5 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on CAVA. Citigroup lowered their price target on CAVA Group from $163.00 to $140.00 and set a “neutral” rating on the stock in a report on Friday, February 21st. William Blair restated an “outperform” rating on shares of CAVA Group in a report on Wednesday, February 26th. Wedbush restated an “outperform” rating and issued a $150.00 price target on shares of CAVA Group in a report on Wednesday, February 26th. UBS Group lowered their price target on CAVA Group from $160.00 to $125.00 and set a “neutral” rating on the stock in a report on Tuesday, January 7th. Finally, Bank of America initiated coverage on CAVA Group in a report on Monday, March 31st. They set a “buy” rating and a $112.00 target price on the stock. Five analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $124.19.

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.