Kodai Capital Management LP Increases Position in CAVA Group, Inc. $CAVA

Key Points

• Kodai Capital Management LP increased its stake in CAVA Group by 368.7% during the first quarter, owning approximately $19.19 million worth of shares after purchasing an additional 174,716 shares.
• CAVA Group reported an EPS of $0.16 for the most recent quarter, exceeding expectations, but its revenue of $280.62 million fell short of the consensus estimate.
• Institutional investors now own approximately 73.15% of CAVA Group's stock, reflecting significant interest from various hedge funds in recent months.

Kodai Capital Management LP increased its holdings in CAVA Group, Inc. (NYSE:CAVA - Free Report) by 368.7% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 222,101 shares of the company's stock after acquiring an additional 174,716 shares during the period. Kodai Capital Management LP owned about 0.19% of CAVA Group worth $19,192,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in CAVA. Envestnet Asset Management Inc. increased its stake in CAVA Group by 20.8% in the 4th quarter. Envestnet Asset Management Inc. now owns 10,871 shares of the company's stock valued at $1,226,000 after buying an additional 1,874 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in CAVA Group by 43.2% in the 4th quarter. Dimensional Fund Advisors LP now owns 239,561 shares of the company's stock valued at $27,019,000 after buying an additional 72,288 shares during the last quarter. Hsbc Holdings PLC purchased a new stake in CAVA Group in the 4th quarter valued at about $2,047,000. Integrated Wealth Concepts LLC increased its stake in CAVA Group by 4.5% in the 4th quarter. Integrated Wealth Concepts LLC now owns 6,678 shares of the company's stock valued at $753,000 after buying an additional 288 shares during the last quarter. Finally, Kovitz Investment Group Partners LLC increased its stake in CAVA Group by 7.0% in the 4th quarter. Kovitz Investment Group Partners LLC now owns 2,435 shares of the company's stock valued at $275,000 after buying an additional 159 shares during the last quarter. Hedge funds and other institutional investors own 73.15% of the company's stock.

Insider Buying and Selling

In related news, insider Kelly Costanza sold 2,799 shares of CAVA Group stock in a transaction on Monday, June 16th. The shares were sold at an average price of $75.16, for a total value of $210,372.84. Following the transaction, the insider owned 122,548 shares in the company, valued at $9,210,707.68. This trade represents a 2.23% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Theodoros Xenohristos sold 3,062 shares of the business's stock in a transaction dated Monday, June 16th. The shares were sold at an average price of $75.16, for a total transaction of $230,139.92. Following the transaction, the insider owned 350,209 shares in the company, valued at $26,321,708.44. This represents a 0.87% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 48,360 shares of company stock worth $3,634,738 over the last 90 days. Insiders own 12.10% of the company's stock.

Analyst Ratings Changes

Several research firms have commented on CAVA. Piper Sandler decreased their price objective 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. TD Cowen decreased their price target on shares of CAVA Group from $120.00 to $90.00 and set a "buy" rating for the company in a research note on Wednesday, August 13th. KeyCorp decreased their price target on shares of CAVA Group from $100.00 to $85.00 and set an "overweight" rating for the company in a research note on Wednesday, August 13th. Bank of America decreased their price target on shares of CAVA Group from $121.00 to $100.00 and set a "buy" rating for the company in a research note on Wednesday, August 13th. Finally, Citigroup decreased their price target 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. One investment analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and seven have assigned a Hold rating to the stock. According to MarketBeat, CAVA Group presently has an average rating of "Moderate Buy" and a consensus target price of $99.47.

CAVA Group Stock Down 3.0%

CAVA traded down $2.01 on Tuesday, hitting $65.54. The company's stock had a trading volume of 3,518,377 shares, compared to its average volume of 3,840,863. The company's 50 day simple moving average is $81.10 and its 200-day simple moving average is $85.46. The firm has a market cap of $7.60 billion, a P/E ratio of 55.08, a price-to-earnings-growth ratio of 3.38 and a beta of 2.62. CAVA Group, Inc. has a 12 month low of $65.03 and a 12 month high of $172.43.

CAVA Group (NYSE:CAVA - Get Free Report) last announced its quarterly earnings results 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 the consensus estimate of $285.65 million. During the same period last year, the firm earned $0.17 EPS. The business's quarterly revenue was up 20.2% compared to the same quarter last year. Equities analysts predict that CAVA Group, Inc. will post 0.5 earnings per share for the current fiscal 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.