Voya Investment Management LLC Sells 161,041 Shares of CAVA Group, Inc. (NYSE:CAVA)

Voya Investment Management LLC lessened its stake in CAVA Group, Inc. (NYSE:CAVA - Free Report) by 57.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 120,914 shares of the company's stock after selling 161,041 shares during the period. Voya Investment Management LLC owned about 0.11% of CAVA Group worth $13,639,000 as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. Charles Schwab Investment Management Inc. increased its holdings in shares of CAVA Group by 2.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 527,868 shares of the company's stock valued at $59,544,000 after acquiring an additional 11,776 shares in the last quarter. Entropy Technologies LP bought a new stake in CAVA Group during the 4th quarter valued at $2,097,000. Empowered Funds LLC bought a new position in shares of CAVA Group in the fourth quarter valued at $5,007,000. Legacy Capital Wealth Partners LLC grew its holdings in shares of CAVA Group by 71.9% during the fourth quarter. Legacy Capital Wealth Partners LLC now owns 13,658 shares of the company's stock valued at $1,541,000 after buying an additional 5,712 shares during the last quarter. Finally, Jennison Associates LLC increased its position in shares of CAVA Group by 36,658.7% during 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 in the last quarter. Institutional investors own 73.15% of the company's stock.

Analysts Set New Price Targets

CAVA has been the subject of several analyst reports. TD Securities lowered their price objective on CAVA Group from $130.00 to $120.00 and set a "buy" rating for the company in a research note on Monday, April 21st. Sanford C. Bernstein raised shares of CAVA Group from a "market perform" rating to an "outperform" rating and set a $115.00 price objective on the stock in a report on Wednesday, April 23rd. JPMorgan Chase & Co. raised shares of CAVA Group from a "neutral" rating to an "overweight" rating and set a $110.00 price target on the stock in a research report on Thursday, March 20th. UBS Group decreased their price objective on shares of CAVA Group from $160.00 to $125.00 and set a "neutral" rating for the company in a research note on Tuesday, January 7th. Finally, William Blair restated an "outperform" rating 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 assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $124.19.

CAVA Group Trading Up 2.4 %

Shares of CAVA Group stock traded up $2.23 on Thursday, reaching $94.66. The stock had a trading volume of 3,158,671 shares, compared to its average volume of 3,106,855. The company has a market cap of $10.95 billion, a P/E ratio of 205.79 and a beta of 3.33. CAVA Group, Inc. has a 1 year low of $66.15 and a 1 year high of $172.43. The business's 50 day moving average is $86.39 and its two-hundred day moving average is $115.18.

CAVA Group (NYSE:CAVA - Get Free Report) last released its earnings results on Tuesday, February 25th. The company reported $0.05 EPS for the quarter, missing analysts' consensus estimates of $0.06 by ($0.01). CAVA Group had a net margin of 5.88% and a return on equity of 9.10%. The firm had revenue of $227.40 million during the quarter, compared to the consensus estimate of $223.34 million. On average, equities analysts anticipate that CAVA Group, Inc. will post 0.5 EPS 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.