Voloridge Investment Management LLC Sells 156,078 Shares of CAVA Group, Inc. (NYSE:CAVA)

Voloridge Investment Management LLC cut its holdings in CAVA Group, Inc. (NYSE:CAVA - Free Report) by 9.5% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,488,984 shares of the company's stock after selling 156,078 shares during the quarter. CAVA Group makes up 0.6% of Voloridge Investment Management LLC's holdings, making the stock its 20th biggest holding. Voloridge Investment Management LLC owned approximately 1.30% of CAVA Group worth $167,957,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Jennison Associates LLC boosted its holdings in shares of CAVA Group by 36,658.7% during the 4th 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 in the last quarter. Vanguard Group Inc. boosted its holdings in shares of CAVA Group by 20.4% during the 4th 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 in the last quarter. Man Group plc boosted its holdings in shares of CAVA Group by 563.7% during the 4th quarter. Man Group plc now owns 935,075 shares of the company's stock valued at $105,476,000 after acquiring an additional 794,187 shares in the last quarter. Barclays PLC boosted its holdings in shares of CAVA Group by 116.7% during the 4th quarter. Barclays PLC now owns 84,755 shares of the company's stock valued at $9,560,000 after acquiring an additional 591,866 shares in the last quarter. Finally, Norges Bank acquired a new stake in shares of CAVA Group during the 4th quarter valued at $64,538,000. Institutional investors own 73.15% of the company's stock.

CAVA Group Price Performance

CAVA Group stock traded down $0.94 during mid-day trading on Friday, reaching $83.42. 2,854,763 shares of the company traded hands, compared to its average volume of 3,212,688. The firm's 50 day moving average price is $88.90 and its 200 day moving average price is $110.11. The firm has a market capitalization of $9.65 billion, a price-to-earnings ratio of 181.35 and a beta of 3.28. CAVA Group, Inc. has a 52-week low of $70.00 and a 52-week high of $172.43.

CAVA Group (NYSE:CAVA - Get Free Report) last released its earnings results on Thursday, May 15th. The company reported $0.22 earnings per share for the quarter, topping analysts' consensus estimates of $0.14 by $0.08. The firm had revenue of $331.83 million for the quarter, compared to the consensus estimate of $327.98 million. CAVA Group had a net margin of 5.88% and a return on equity of 9.10%. The company's revenue was up 28.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.12 EPS. On average, sell-side analysts anticipate that CAVA Group, Inc. will post 0.5 EPS for the current year.

Insider Buying and Selling

In other news, insider Theodoros Xenohristos sold 9,348 shares of the company's stock in a transaction dated Friday, May 9th. The shares were sold at an average price of $94.88, for a total transaction of $886,938.24. Following the completion of the sale, the insider now owns 353,271 shares of the company's stock, valued at $33,518,352.48. This represents a 2.58% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Kelly Costanza sold 10,243 shares of the company's stock in a transaction dated Wednesday, May 21st. The shares were sold at an average price of $86.63, for a total transaction of $887,351.09. Following the sale, the insider now directly owns 125,347 shares of the company's stock, valued at $10,858,810.61. The trade was a 7.55% decrease in their position. The disclosure for this sale can be found here. 6.80% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on CAVA shares. Robert W. Baird raised their price objective on CAVA Group from $105.00 to $115.00 and gave the company an "outperform" rating in a report on Friday, May 16th. Bank of America raised their price objective on shares of CAVA Group from $112.00 to $121.00 and gave the company a "buy" rating in a research note on Monday, May 19th. Loop Capital lowered their target price on shares of CAVA Group from $147.00 to $100.00 and set a "hold" rating for the company in a report on Thursday, February 27th. Barclays lowered their target price on shares of CAVA Group from $104.00 to $90.00 and set an "equal weight" rating for the company in a report on Tuesday, April 22nd. Finally, TD Securities restated a "buy" rating and set a $120.00 price objective on shares of CAVA Group in a report on Friday, May 16th. Five investment 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, the stock has an average rating of "Moderate Buy" and a consensus price target of $123.00.

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.