Voleon Capital Management LP Invests $6.60 Million in CAVA Group, Inc. (NYSE:CAVA)

Voleon Capital Management LP acquired a new position in shares of CAVA Group, Inc. (NYSE:CAVA - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 58,550 shares of the company's stock, valued at approximately $6,604,000. Voleon Capital Management LP owned about 0.05% of CAVA Group at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the company. Vanguard Group Inc. increased its holdings in 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 purchasing an additional 1,357,187 shares in the last quarter. FMR LLC increased its position in CAVA Group by 14.1% in the 4th quarter. FMR LLC now owns 3,976,353 shares of the company's stock valued at $448,533,000 after acquiring an additional 491,320 shares in the last quarter. Jennison Associates LLC raised its stake in shares of CAVA Group by 36,658.7% in the fourth quarter. Jennison Associates LLC now owns 2,461,732 shares of the company's stock worth $277,683,000 after acquiring an additional 2,455,035 shares during the last quarter. Federated Hermes Inc. lifted its position in shares of CAVA Group by 33.0% during the fourth quarter. Federated Hermes Inc. now owns 1,464,987 shares of the company's stock worth $165,243,000 after purchasing an additional 363,814 shares in the last quarter. Finally, Lord Abbett & CO. LLC increased its holdings in shares of CAVA Group by 2.3% in the fourth quarter. Lord Abbett & CO. LLC now owns 1,389,327 shares of the company's stock valued at $156,716,000 after purchasing an additional 31,077 shares in the last quarter. Institutional investors and hedge funds own 73.15% of the company's stock.

Analyst Ratings Changes

CAVA has been the subject of a number of recent research reports. TD Securities dropped their target price on CAVA Group from $130.00 to $120.00 and set a "buy" rating for the company in a research report on Monday, April 21st. Sanford C. Bernstein raised CAVA Group from a "market perform" rating to an "outperform" rating and set a $115.00 price objective for the company in a report on Wednesday, April 23rd. Piper Sandler raised shares of CAVA Group from a "neutral" rating to an "overweight" rating and reduced their target price for the company from $142.00 to $115.00 in a research note on Friday, February 28th. William Blair reissued an "outperform" rating on shares of CAVA Group in a research note on Wednesday, February 26th. Finally, Wedbush reaffirmed an "outperform" rating and issued a $150.00 price objective on shares of CAVA Group in a research note on Wednesday, February 26th. Five analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $124.19.

CAVA Group Stock Up 2.2 %

Shares of CAVA traded up $2.05 on Friday, hitting $96.58. The company's stock had a trading volume of 2,406,742 shares, compared to its average volume of 3,107,744. The firm's fifty day moving average price is $86.14 and its 200-day moving average price is $114.65. CAVA Group, Inc. has a fifty-two week low of $69.28 and a fifty-two week high of $172.43. The firm has a market capitalization of $11.17 billion, a price-to-earnings ratio of 209.96 and a beta of 3.33.

CAVA Group (NYSE:CAVA - Get Free Report) last released its quarterly earnings results on Tuesday, February 25th. The company reported $0.05 earnings per share for the quarter, missing the consensus estimate of $0.06 by ($0.01). The company had revenue of $227.40 million during the quarter, compared to analyst estimates of $223.34 million. CAVA Group had a net margin of 5.88% and a return on equity of 9.10%. As a group, equities analysts predict that CAVA Group, Inc. will post 0.5 earnings per share for the current fiscal year.

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.