Voloridge Investment Management LLC Cuts Position in CAVA Group, Inc. (NYSE:CAVA)

Voloridge Investment Management LLC lessened its position in shares of CAVA Group, Inc. (NYSE:CAVA) by 9.5% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,488,984 shares of the company’s stock after selling 156,078 shares during the quarter. CAVA Group comprises 0.6% of Voloridge Investment Management LLC’s portfolio, making the stock its 20th biggest holding. Voloridge Investment Management LLC owned approximately 1.30% of CAVA Group worth $167,957,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Arcadia Investment Management Corp MI purchased a new position in shares of CAVA Group in the 4th quarter worth approximately $25,000. Allworth Financial LP boosted its holdings in shares of CAVA Group by 369.2% in the 4th quarter. Allworth Financial LP now owns 244 shares of the company’s stock worth $30,000 after purchasing an additional 192 shares during the period. Larson Financial Group LLC boosted its holdings in shares of CAVA Group by 274.0% in the 4th quarter. Larson Financial Group LLC now owns 273 shares of the company’s stock worth $31,000 after purchasing an additional 200 shares during the period. Whittier Trust Co. boosted its holdings in shares of CAVA Group by 80.9% in the 4th quarter. Whittier Trust Co. now owns 284 shares of the company’s stock worth $32,000 after purchasing an additional 127 shares during the period. Finally, Signaturefd LLC boosted its holdings in shares of CAVA Group by 884.4% in the 4th quarter. Signaturefd LLC now owns 315 shares of the company’s stock worth $36,000 after purchasing an additional 283 shares during the period. Hedge funds and other institutional investors own 73.15% of the company’s stock.

Insider Transactions at CAVA Group

In other news, insider Theodoros Xenohristos sold 9,348 shares of the business’s stock in a transaction dated Friday, May 9th. The stock was sold at an average price of $94.88, for a total transaction of $886,938.24. Following the sale, the insider now owns 353,271 shares in the company, valued at approximately $33,518,352.48. The trade was a 2.58% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 6.80% of the company’s stock.

Analyst Ratings Changes

CAVA has been the subject of a number of research analyst reports. Barclays decreased their price target on CAVA Group from $104.00 to $90.00 and set an “equal weight” rating for the company in a research note on Tuesday, April 22nd. JPMorgan Chase & Co. raised CAVA Group from a “neutral” rating to an “overweight” rating and set a $110.00 price target for the company in a research note on Thursday, March 20th. Citigroup raised their price target on CAVA Group from $114.00 to $115.00 and gave the stock a “neutral” rating in a research note on Friday. Piper Sandler raised CAVA Group from a “neutral” rating to an “overweight” rating and decreased their price target for the stock from $142.00 to $115.00 in a research note on Friday, February 28th. Finally, Loop Capital decreased their price target on CAVA Group from $147.00 to $100.00 and set a “hold” rating for the company in a research note on Thursday, February 27th. Five analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat, CAVA Group has an average rating of “Moderate Buy” and a consensus target price of $123.00.

CAVA Group Trading Down 7.0%

CAVA opened at $90.03 on Tuesday. The firm has a market cap of $10.41 billion, a price-to-earnings ratio of 195.72 and a beta of 3.28. CAVA Group, Inc. has a 12 month low of $70.00 and a 12 month high of $172.43. The stock has a fifty day moving average price of $88.22 and a 200-day moving average price of $111.32.

CAVA Group (NYSE:CAVA) last released 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. The firm had revenue of $331.83 million during the quarter, compared to analyst estimates of $327.98 million. CAVA Group had a return on equity of 9.10% and a net margin of 5.88%. The business’s revenue for the quarter was up 28.1% compared to the same quarter last year. During the same period in the previous year, the company posted $0.12 EPS. On average, equities research analysts forecast 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.