Woodline Partners LP Has $20.82 Million Position in CAVA Group, Inc. $CAVA

Key Points

• Woodline Partners LP increased its stake in CAVA Group, Inc. by 38.6% in Q1, now holding approximately $20.82 million worth of shares.
• CAVA Group reported a 20.2% year-over-year revenue increase for the quarter, totaling $280.62 million, and exceeded EPS expectations with a reported $0.16 EPS.
• Analysts have mixed ratings on CAVA Group, with a consensus target price of $96.41 and several adjustments to price targets following recent analyst reports.

Woodline Partners LP grew its position in CAVA Group, Inc. (NYSE:CAVA - Free Report) by 38.6% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 240,946 shares of the company's stock after purchasing an additional 67,049 shares during the period. Woodline Partners LP owned approximately 0.21% of CAVA Group worth $20,820,000 at the end of the most recent quarter.

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

Analysts Set New Price Targets

Several research analysts recently commented on the stock. 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 report on Wednesday, August 13th. Argus set a $76.00 price target on shares of CAVA Group in a research report on Tuesday, September 2nd. Stifel Nicolaus decreased their price objective on CAVA Group from $175.00 to $125.00 and set a "buy" rating for the company in a report on Wednesday, June 18th. Melius began coverage on CAVA Group in a research report on Monday, July 14th. They issued a "hold" rating and a $95.00 target price on the stock. Finally, Cfra Research upgraded CAVA Group to a "strong-buy" rating in a report on Thursday, August 14th. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and seven have issued a Hold rating to the company. Based on data from MarketBeat, CAVA Group presently has an average rating of "Moderate Buy" and an average price target of $96.41.

CAVA Group Stock Performance

CAVA Group stock traded down $0.58 during midday trading on Friday, reaching $63.74. 3,304,620 shares of the company's stock were exchanged, compared to its average volume of 3,460,056. The stock's 50-day simple moving average is $78.31 and its 200 day simple moving average 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 52 week low of $63.17 and a 52 week high of $172.43.

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

Insider Buying and Selling at CAVA Group

In other CAVA Group news, CEO Brett Schulman sold 31,856 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 transaction of $2,394,296.96. Following the completion of the transaction, the chief executive officer directly owned 792,318 shares of the company's stock, valued at $59,550,620.88. The trade was a 3.87% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO Adam David Phillips sold 739 shares of the stock in a transaction dated Monday, June 16th. The shares were sold at an average price of $75.16, for a total transaction of $55,543.24. Following the completion of the transaction, the chief accounting officer directly owned 11,063 shares in the company, valued at $831,495.08. The trade was a 6.26% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 48,360 shares of company stock worth $3,634,738. 6.80% of the stock is currently owned by corporate insiders.

About CAVA Group

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.