Voya Investment Management LLC Has $33.38 Million Stock Position in CAVA Group, Inc. $CAVA

Key Points

• Voya Investment Management LLC increased its stake in CAVA Group, Inc. by 219.5% during the 1st quarter, now holding 386,330 shares valued at approximately $33.38 million.
• Several institutional investors, including Royal Bank of Canada and Janus Henderson Group PLC, have significantly increased their positions in CAVA Group, with institutional ownership now at 73.15%.
• CAVA Group reported an EPS of $0.16 for the most recent quarter, exceeding analysts' expectations but falling short of revenue estimates, with a total revenue of $280.62 million compared to a forecast of $285.65 million.

Voya Investment Management LLC grew its stake in shares of CAVA Group, Inc. (NYSE:CAVA - Free Report) by 219.5% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 386,330 shares of the company's stock after purchasing an additional 265,416 shares during the quarter. Voya Investment Management LLC owned about 0.33% of CAVA Group worth $33,383,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Bison Wealth LLC acquired a new position in shares of CAVA Group during the 4th quarter worth approximately $208,000. Deutsche Bank AG lifted its holdings in CAVA Group by 0.8% during the 4th quarter. Deutsche Bank AG now owns 72,751 shares of the company's stock valued at $8,206,000 after purchasing an additional 587 shares during the last quarter. Janus Henderson Group PLC lifted its holdings in CAVA Group by 42.7% during the 4th quarter. Janus Henderson Group PLC now owns 36,400 shares of the company's stock valued at $4,102,000 after purchasing an additional 10,900 shares during the last quarter. Point72 Hong Kong Ltd acquired a new stake in CAVA Group during the 4th quarter valued at $694,000. Finally, Royal Bank of Canada lifted its holdings in CAVA Group by 308.3% during the 4th quarter. Royal Bank of Canada now owns 154,037 shares of the company's stock valued at $17,376,000 after purchasing an additional 116,313 shares during the last quarter. Institutional investors and hedge funds own 73.15% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the company. UBS Group cut their price target on CAVA Group from $96.00 to $75.00 and set a "neutral" rating for the company in a report on Wednesday, August 13th. Robert W. Baird set a $95.00 price target on CAVA Group in a report on Wednesday, August 13th. Citigroup cut their price target on CAVA Group from $102.00 to $88.00 and set a "neutral" rating for the company in a report on Wednesday, August 13th. Bank of America decreased their price objective on CAVA Group from $121.00 to $100.00 and set a "buy" rating on the stock in a report on Wednesday, August 13th. Finally, Stifel Nicolaus decreased their price objective on CAVA Group from $175.00 to $125.00 and set a "buy" rating on the stock in a report on Wednesday, June 18th. One equities research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and seven have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $96.41.

CAVA Group Price Performance

Shares of NYSE CAVA opened at $63.74 on Friday. The stock's fifty day moving average price is $78.31 and its two-hundred day moving average price is $82.61. The firm has a market cap of $7.39 billion, a price-to-earnings ratio of 53.56, a P/E/G ratio of 3.22 and a beta of 2.61. CAVA Group, Inc. has a one year low of $63.17 and a one year high of $172.43.

CAVA Group (NYSE:CAVA - Get Free Report) last released its earnings results on Tuesday, August 12th. The company reported $0.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.13 by $0.03. The company had revenue of $280.62 million for the quarter, compared to analyst estimates of $285.65 million. CAVA Group had a return on equity of 9.83% and a net margin of 12.98%.CAVA Group's quarterly revenue was up 20.2% on a year-over-year basis. During the same period in the prior year, the firm posted $0.17 EPS. On average, equities analysts anticipate that CAVA Group, Inc. will post 0.5 earnings per share for the current fiscal year.

Insider Activity at CAVA Group

In other news, CFO Tricia K. Tolivar sold 4,845 shares of the stock in a transaction on Monday, June 16th. The stock was sold at an average price of $75.16, for a total transaction of $364,150.20. Following the sale, the chief financial officer directly owned 236,345 shares of the company's stock, valued at approximately $17,763,690.20. This represents a 2.01% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Adam David Phillips sold 739 shares of the stock in a transaction on Monday, June 16th. The stock was sold at an average price of $75.16, for a total value of $55,543.24. Following the sale, the chief accounting officer directly owned 11,063 shares in the company, valued at approximately $831,495.08. This trade represents a 6.26% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 48,360 shares of company stock worth $3,634,738 in the last quarter. 6.80% of the stock is currently 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.

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