CAVA Group, Inc. $CAVA Shares Sold by Voya Investment Management LLC

Voya Investment Management LLC decreased its position in shares of CAVA Group, Inc. (NYSE:CAVA) by 46.1% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 275,781 shares of the company’s stock after selling 235,960 shares during the quarter. Voya Investment Management LLC owned approximately 0.24% of CAVA Group worth $16,660,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also made changes to their positions in CAVA. Bison Wealth LLC acquired a new stake in shares of CAVA Group in the 4th quarter valued at about $208,000. American Century Companies Inc. lifted its stake in CAVA Group by 166.0% in the first quarter. American Century Companies Inc. now owns 213,463 shares of the company’s stock valued at $18,445,000 after buying an additional 133,222 shares during the last quarter. Brooklyn Investment Group boosted 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 acquiring an additional 252 shares during the period. Northern Trust Corp grew its position in shares of CAVA Group by 63.5% during the first quarter. Northern Trust Corp now owns 679,144 shares of the company’s stock worth $58,685,000 after acquiring an additional 263,651 shares during the last quarter. Finally, Wellington Management Group LLP acquired a new position in shares of CAVA Group in the 1st quarter valued at $3,866,000. 73.15% of the stock is owned by hedge funds and other institutional investors.

CAVA Group Trading Up 1.8%

NYSE CAVA opened at $57.94 on Tuesday. The stock has a market capitalization of $6.72 billion, a price-to-earnings ratio of 49.95, a PEG ratio of 3.21 and a beta of 2.51. The business’s 50 day moving average is $53.88 and its two-hundred day moving average is $67.41. CAVA Group, Inc. has a 12-month low of $43.41 and a 12-month high of $144.49.

CAVA Group (NYSE:CAVA) last posted its quarterly earnings results on Tuesday, November 4th. The company reported $0.12 earnings per share for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.01). CAVA Group had a net margin of 12.14% and a return on equity of 8.88%. The business had revenue of $292.24 million during the quarter, compared to analysts’ expectations of $292.88 million. During the same quarter last year, the firm earned $0.15 earnings per share. The firm’s quarterly revenue was up 19.9% compared to the same quarter last year. Equities analysts forecast that CAVA Group, Inc. will post 0.5 earnings per share for the current fiscal year.

Insider Buying and Selling at CAVA Group

In other news, insider Kenneth Robert Bertram sold 3,788 shares of the company’s stock in a transaction on Wednesday, November 26th. The shares were sold at an average price of $50.70, for a total transaction of $192,051.60. Following the transaction, the insider directly owned 51,143 shares of the company’s stock, valued at $2,592,950.10. This represents a 6.90% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 12.10% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

CAVA has been the topic of several research reports. Morgan Stanley set a $86.00 price objective on shares of CAVA Group in a research report on Wednesday, November 5th. Truist Financial upgraded shares of CAVA Group to a “strong-buy” rating in a research note on Tuesday, December 9th. Stifel Nicolaus set a $75.00 price target on CAVA Group in a research report on Wednesday, November 5th. Sanford C. Bernstein reduced their price objective on CAVA Group from $100.00 to $80.00 and set an “outperform” rating for the company in a research note on Wednesday, November 5th. Finally, Citigroup reiterated a “neutral” rating on shares of CAVA Group in a research note on Wednesday, November 12th. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and nine have assigned a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $81.00.

About CAVA Group

CAVA Group, Inc (NYSE: CAVA) is a leading fast-casual restaurant company specializing in Mediterranean-inspired cuisine. Operating under the CAVA brand, the company offers customizable bowls, pitas and salads built around a variety of proteins, grains, fresh vegetables and house-made spreads. With a focus on high-quality ingredients and made-to-order preparation, CAVA aims to deliver a casual yet elevated dining experience for dine-in, takeout and catering customers.

Founded in 2011 in the Washington, DC metro area by Ike Grigoropoulos, Dimitri Katsanis and Brett Schulman, CAVA has pursued an aggressive growth strategy that included the 2018 acquisition of Zoe’s Kitchen.