Holocene Advisors LP Cuts Stock Position in CAVA Group, Inc. $CAVA

Holocene Advisors LP lessened its holdings in CAVA Group, Inc. (NYSE:CAVA) by 5.1% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 588,800 shares of the company’s stock after selling 31,518 shares during the period. Holocene Advisors LP owned approximately 0.51% of CAVA Group worth $35,569,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of CAVA. Cornerstone Planning Group LLC grew its stake in shares of CAVA Group by 378.7% in the 3rd quarter. Cornerstone Planning Group LLC now owns 450 shares of the company’s stock worth $27,000 after buying an additional 356 shares in the last quarter. Toth Financial Advisory Corp raised its position in shares of CAVA Group by 656.7% during the 3rd quarter. Toth Financial Advisory Corp now owns 507 shares of the company’s stock valued at $31,000 after buying an additional 440 shares in the last quarter. Western Pacific Wealth Management LP bought a new position in shares of CAVA Group in the 3rd quarter valued at about $33,000. CNB Bank lifted its holdings in shares of CAVA Group by 275.8% in the 3rd quarter. CNB Bank now owns 575 shares of the company’s stock valued at $35,000 after acquiring an additional 422 shares during the last quarter. Finally, Knuff & Co LLC purchased a new position in CAVA Group in the third quarter worth about $47,000. Institutional investors own 73.15% of the company’s stock.

CAVA Group Price Performance

CAVA Group stock opened at $87.41 on Tuesday. The firm has a market capitalization of $10.17 billion, a P/E ratio of 161.88, a price-to-earnings-growth ratio of 7.06 and a beta of 2.15. CAVA Group, Inc. has a 1-year low of $43.41 and a 1-year high of $101.50. The company’s 50-day moving average is $70.89 and its 200 day moving average is $62.57.

CAVA Group (NYSE:CAVA) last announced its earnings results on Tuesday, February 24th. The company reported $0.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.03 by $0.01. The business had revenue of $274.99 million during the quarter, compared to analyst estimates of $268.04 million. CAVA Group had a return on equity of 8.43% and a net margin of 5.40%.The company’s revenue for the quarter was up 20.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.05 earnings per share. Research analysts anticipate that CAVA Group, Inc. will post 0.5 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts have weighed in on CAVA shares. Telsey Advisory Group boosted their price objective on CAVA Group from $85.00 to $88.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 25th. Sanford C. Bernstein raised their price objective on CAVA Group from $75.00 to $84.00 and gave the company an “outperform” rating in a research note on Wednesday, February 25th. Weiss Ratings reiterated a “hold (c)” rating on shares of CAVA Group in a report on Wednesday, January 21st. KeyCorp boosted their target price on CAVA Group from $65.00 to $95.00 and gave the company an “overweight” rating in a research report on Tuesday, March 3rd. Finally, TD Cowen increased their price target on CAVA Group from $85.00 to $90.00 and gave the company a “buy” rating in a report on Wednesday, February 25th. Two analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and ten have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $84.04.

Insider Activity

In other CAVA Group news, insider Kenneth Robert Bertram sold 994 shares of the company’s stock in a transaction on Tuesday, January 27th. The stock was sold at an average price of $62.14, for a total value of $61,767.16. Following the transaction, the insider owned 49,122 shares of the company’s stock, valued at $3,052,441.08. This represents a 1.98% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Kelly Costanza sold 1,707 shares of the stock in a transaction on Tuesday, January 27th. The stock was sold at an average price of $62.14, for a total value of $106,072.98. Following the completion of the sale, the insider owned 119,139 shares in the company, valued at approximately $7,403,297.46. The trade was a 1.41% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 39,055 shares of company stock worth $2,572,303 in the last three months. Corporate insiders own 12.10% of the company’s stock.

CAVA Group 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.