CAVA Group, Inc. (NYSE:CAVA) Stock Holdings Trimmed by Verition Fund Management LLC

Verition Fund Management LLC lowered its position in shares of CAVA Group, Inc. (NYSE:CAVA) by 41.2% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 71,026 shares of the company’s stock after selling 49,859 shares during the quarter. Verition Fund Management LLC’s holdings in CAVA Group were worth $8,797,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of CAVA. Jamison Private Wealth Management Inc. acquired a new position in shares of CAVA Group in the 2nd quarter valued at about $28,000. Nemes Rush Group LLC acquired a new position in CAVA Group in the second quarter valued at approximately $28,000. Mark Sheptoff Financial Planning LLC bought a new position in shares of CAVA Group during the second quarter valued at approximately $36,000. Headlands Technologies LLC acquired a new stake in shares of CAVA Group during the 2nd quarter worth approximately $37,000. Finally, GAMMA Investing LLC lifted its holdings in shares of CAVA Group by 68.3% in the 3rd quarter. GAMMA Investing LLC now owns 308 shares of the company’s stock worth $38,000 after purchasing an additional 125 shares during the last quarter. Institutional investors own 73.15% of the company’s stock.

Insider Buying and Selling

In other news, Director Karen Kochevar sold 15,000 shares of the stock in a transaction on Friday, November 15th. The stock was sold at an average price of $140.00, for a total transaction of $2,100,000.00. Following the completion of the sale, the director now owns 1,307 shares in the company, valued at approximately $182,980. This represents a 91.99 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 12.10% of the stock is currently owned by insiders.

CAVA Group Stock Performance

CAVA opened at $140.90 on Monday. The stock’s fifty day moving average is $135.37 and its 200-day moving average is $109.42. CAVA Group, Inc. has a one year low of $31.47 and a one year high of $172.43. The company has a market capitalization of $16.14 billion, a PE ratio of 306.30 and a beta of 3.23.

CAVA Group (NYSE:CAVA) last issued its quarterly earnings results on Tuesday, November 12th. The company reported $0.15 earnings per share for the quarter, beating analysts’ consensus estimates 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 was up 38.9% on a year-over-year basis. During the same period in the prior year, the company earned $0.06 EPS. On average, equities research analysts forecast that CAVA Group, Inc. will post 0.5 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on CAVA shares. JPMorgan Chase & Co. increased their target price on CAVA Group from $90.00 to $110.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 13th. Barclays increased their price objective on shares of CAVA Group from $113.00 to $142.00 and gave the stock an “equal weight” rating in a report on Wednesday, November 13th. UBS Group began coverage on shares of CAVA Group in a research report on Friday, September 27th. They issued a “neutral” rating and a $135.00 target price for the company. TD Securities lifted their price target on CAVA Group from $115.00 to $130.00 and gave the company a “buy” rating in a report on Tuesday, September 24th. Finally, William Blair reiterated an “outperform” rating on shares of CAVA Group in a research report on Wednesday, November 13th. Eight research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $143.80.

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.