CAVA Group, Inc. $CAVA Shares Sold by Voleon Capital Management LP

Key Points

• Voleon Capital Management LP significantly reduced its stake in CAVA Group, Inc. by 62.9%, selling 36,854 shares during the first quarter, leaving them with 21,696 shares valued at approximately $1.875 million.
• Goldman Sachs increased its holdings in CAVA Group by 14.3%, now owning 606,780 shares worth $52.43 million, while institutional investors collectively own 73.15% of the company's stock.
• CAVA Group reported a quarterly earnings per share of $0.16, exceeding expectations, although its revenue of $280.62 million fell short of the forecasted $285.65 million.

Voleon Capital Management LP reduced its holdings in shares of CAVA Group, Inc. (NYSE:CAVA - Free Report) by 62.9% during the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 21,696 shares of the company's stock after selling 36,854 shares during the period. Voleon Capital Management LP's holdings in CAVA Group were worth $1,875,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. First Horizon Advisors Inc. grew its position in CAVA Group by 1,400.0% during the 1st quarter. First Horizon Advisors Inc. now owns 285 shares of the company's stock worth $25,000 after purchasing an additional 266 shares during the last quarter. Vision Financial Markets LLC purchased a new position in CAVA Group during the 1st quarter worth $26,000. Dagco Inc. purchased a new position in CAVA Group during the 1st quarter worth $27,000. Versant Capital Management Inc purchased a new position in CAVA Group during the 1st quarter worth $31,000. Finally, Brooklyn Investment Group lifted its stake in shares of CAVA Group by 168.0% in the 1st quarter. Brooklyn Investment Group now owns 402 shares of the company's stock worth $35,000 after acquiring an additional 252 shares during the period. 73.15% of the stock is owned by hedge funds and other institutional investors.

CAVA Group Stock Down 0.9%

Shares of NYSE CAVA traded down $0.58 during midday trading on Friday, hitting $63.74. The company had a trading volume of 3,304,620 shares, compared to its average volume of 3,383,587. CAVA Group, Inc. has a twelve month low of $63.17 and a twelve month high of $172.43. The business has a 50-day simple moving average of $78.31 and a two-hundred day simple moving average of $82.56. The firm has a market capitalization of $7.39 billion, a price-to-earnings ratio of 53.56, a price-to-earnings-growth ratio of 3.18 and a beta of 2.62.

CAVA Group (NYSE:CAVA - Get Free Report) last announced its quarterly earnings data on Tuesday, August 12th. The company reported $0.16 EPS for the quarter, beating the consensus estimate 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 during the quarter, compared to analysts' expectations of $285.65 million. During the same quarter last year, the business earned $0.17 earnings per share. The business's revenue for the quarter was up 20.2% compared to the same quarter last year. On average, equities analysts forecast that CAVA Group, Inc. will post 0.5 EPS for the current year.

Analysts Set New Price Targets

Several research firms have recently commented on CAVA. Argus set a $76.00 target price on shares of CAVA Group in a research note on Tuesday, September 2nd. Citigroup reduced their target price on shares of CAVA Group from $102.00 to $88.00 and set a "neutral" rating for the company in a research note on Wednesday, August 13th. Barclays reduced 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 research note on Wednesday, August 13th. UBS Group reduced their target price on shares of CAVA Group from $96.00 to $75.00 and set a "neutral" rating for the company in a research note on Wednesday, August 13th. Finally, Piper Sandler reduced their target price on shares of CAVA Group from $122.00 to $100.00 and set an "overweight" rating for the company in a research note on Wednesday, August 13th. One investment analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and seven have issued a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $96.41.

Insider Activity at CAVA Group

In other CAVA Group news, CFO Tricia K. Tolivar sold 4,845 shares of CAVA Group stock in a transaction dated Monday, June 16th. The shares were sold at an average price of $75.16, for a total transaction of $364,150.20. Following the completion of the transaction, the chief financial officer owned 236,345 shares in the company, valued at approximately $17,763,690.20. The trade was a 2.01% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Kelly Costanza sold 2,799 shares of CAVA Group stock in a transaction dated Monday, June 16th. The stock was sold at an average price of $75.16, for a total transaction of $210,372.84. Following the transaction, the insider owned 122,548 shares of the company's stock, valued at approximately $9,210,707.68. The trade was a 2.23% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 48,360 shares of company stock valued at $3,634,738 in the last quarter. 12.10% of the stock is owned by corporate 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.