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

Voya Investment Management LLC cut its position in shares of CAVA Group, Inc. (NYSE:CAVA) by 46.1% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 275,781 shares of the company’s stock after selling 235,960 shares during the period. Voya Investment Management LLC’s holdings in CAVA Group were worth $16,660,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Maryland State Retirement & Pension System boosted its stake in CAVA Group by 37.5% in the 2nd quarter. Maryland State Retirement & Pension System now owns 4,850 shares of the company’s stock worth $409,000 after buying an additional 1,324 shares during the last quarter. Global Retirement Partners LLC purchased a new stake in CAVA Group in the second quarter valued at approximately $463,000. Y Intercept Hong Kong Ltd grew its holdings in CAVA Group by 271.7% in the second quarter. Y Intercept Hong Kong Ltd now owns 23,659 shares of the company’s stock valued at $1,993,000 after purchasing an additional 17,294 shares during the period. Hantz Financial Services Inc. raised its stake in CAVA Group by 1,846,775.0% during the second quarter. Hantz Financial Services Inc. now owns 73,875 shares of the company’s stock worth $6,222,000 after purchasing an additional 73,871 shares during the period. Finally, Lewis Asset Management LLC purchased a new position in CAVA Group during the second quarter worth approximately $504,000. 73.15% of the stock is currently owned by hedge funds and other institutional investors.

CAVA Group Trading Up 1.8%

CAVA opened at $57.94 on Tuesday. CAVA Group, Inc. has a twelve month low of $43.41 and a twelve month high of $144.49. The firm has a market cap 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 company has a fifty day simple moving average of $53.88 and a 200 day simple moving average of $67.41.

CAVA Group (NYSE:CAVA) last posted its quarterly earnings data 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). The firm had revenue of $292.24 million during the quarter, compared to analysts’ expectations of $292.88 million. CAVA Group had a net margin of 12.14% and a return on equity of 8.88%. The business’s quarterly revenue was up 19.9% on a year-over-year basis. During the same period in the previous year, the company earned $0.15 earnings per share. On average, analysts forecast that CAVA Group, Inc. will post 0.5 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

CAVA has been the subject of a number of research analyst reports. The Goldman Sachs Group restated a “neutral” rating and set a $68.00 price objective on shares of CAVA Group in a report on Wednesday, November 5th. Mizuho upgraded CAVA Group to a “hold” rating in a research note on Tuesday, October 28th. Piper Sandler reduced their price objective on CAVA Group from $100.00 to $71.00 and set an “overweight” rating on the stock in a research note on Wednesday, November 5th. Truist Financial raised shares of CAVA Group to a “strong-buy” rating in a research report on Tuesday, December 9th. Finally, Citigroup reaffirmed a “neutral” rating on shares of CAVA Group in a research report on Wednesday, November 12th. Two research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and nine have assigned a Hold rating to the stock. According to MarketBeat, CAVA Group has an average rating of “Moderate Buy” and a consensus price target of $81.00.

Insider Buying and Selling

In other CAVA Group news, insider Kenneth Robert Bertram sold 3,788 shares of CAVA Group stock in a transaction that occurred on Wednesday, November 26th. The stock was sold at an average price of $50.70, for a total transaction of $192,051.60. Following the sale, the insider directly owned 51,143 shares in the company, valued at $2,592,950.10. The trade was a 6.90% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 12.10% of the company’s stock.

CAVA Group Company Profile

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.