CAVA Group, Inc. (NYSE:CAVA) Shares Sold by Verition Fund Management LLC

Verition Fund Management LLC lessened its holdings in CAVA Group, Inc. (NYSE:CAVA) by 41.2% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 71,026 shares of the company’s stock after selling 49,859 shares during the period. Verition Fund Management LLC owned 0.06% of CAVA Group worth $8,797,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Renaissance Technologies LLC raised its stake in CAVA Group by 102.5% in the 2nd quarter. Renaissance Technologies LLC now owns 892,400 shares of the company’s stock valued at $82,770,000 after purchasing an additional 451,800 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of CAVA Group by 262.8% in the third quarter. Charles Schwab Investment Management Inc. now owns 516,092 shares of the company’s stock valued at $63,918,000 after buying an additional 373,835 shares during the last quarter. Eagle Asset Management Inc. lifted its stake in shares of CAVA Group by 233.4% during the third quarter. Eagle Asset Management Inc. now owns 398,991 shares of the company’s stock valued at $49,415,000 after buying an additional 279,306 shares during the period. Driehaus Capital Management LLC boosted its position in CAVA Group by 51.8% during the second quarter. Driehaus Capital Management LLC now owns 732,603 shares of the company’s stock worth $67,949,000 after acquiring an additional 250,110 shares during the last quarter. Finally, Marshall Wace LLP raised its holdings in CAVA Group by 130.5% in the 2nd quarter. Marshall Wace LLP now owns 420,577 shares of the company’s stock valued at $39,009,000 after acquiring an additional 238,087 shares during the last quarter. 73.15% of the stock is owned by hedge funds and other institutional investors.

CAVA Group Price Performance

Shares of NYSE CAVA opened at $140.90 on Monday. The company has a market capitalization of $16.14 billion, a price-to-earnings ratio of 306.30 and a beta of 3.23. CAVA Group, Inc. has a 1-year low of $31.47 and a 1-year high of $172.43. The business has a 50-day moving average of $135.37 and a 200-day moving average of $109.42.

CAVA Group (NYSE:CAVA) last issued its quarterly earnings data on Tuesday, November 12th. The company reported $0.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.11 by $0.04. The company had revenue of $243.82 million during the quarter, compared to the consensus estimate of $233.05 million. CAVA Group had a net margin of 5.88% and a return on equity of 9.10%. CAVA Group’s revenue for the quarter was up 38.9% on a year-over-year basis. During the same quarter last year, the company earned $0.06 earnings per share. Research analysts expect that CAVA Group, Inc. will post 0.5 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on CAVA. Stifel Nicolaus lifted their price objective on CAVA Group from $118.00 to $175.00 and gave the company a “buy” rating in a research report on Wednesday, November 13th. Barclays upped their price objective on shares of CAVA Group from $113.00 to $142.00 and gave the company an “equal weight” rating in a research note on Wednesday, November 13th. TD Cowen raised their target price on shares of CAVA Group from $130.00 to $150.00 and gave the stock a “buy” rating in a research report on Wednesday, November 13th. UBS Group initiated coverage on shares of CAVA Group in a report on Friday, September 27th. They issued a “neutral” rating and a $135.00 target price for the company. Finally, William Blair reaffirmed an “outperform” rating on shares of CAVA Group in a research note on Wednesday, November 13th. Eight equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $143.80.

Insider Buying and Selling

In other CAVA Group news, Director Karen Kochevar sold 15,000 shares of CAVA Group stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $142.23, for a total transaction of $2,133,450.00. Following the sale, the director now directly owns 1,307 shares in the company, valued at $185,894.61. The trade was a 91.99 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 12.10% of the stock is currently owned by 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.