Holocene Advisors LP Decreases Holdings in CAVA Group, Inc. (NYSE:CAVA)

Holocene Advisors LP reduced its stake in CAVA Group, Inc. (NYSE:CAVA - Free Report) by 31.4% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 146,142 shares of the company's stock after selling 66,844 shares during the period. Holocene Advisors LP owned approximately 0.13% of CAVA Group worth $18,100,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of CAVA. California State Teachers Retirement System increased its holdings in shares of CAVA Group by 54.6% in the 1st quarter. California State Teachers Retirement System now owns 35,861 shares of the company's stock worth $2,512,000 after buying an additional 12,660 shares during the last quarter. Comerica Bank boosted its stake in shares of CAVA Group by 14.9% during the 1st quarter. Comerica Bank now owns 12,105 shares of the company's stock worth $848,000 after purchasing an additional 1,567 shares during the period. Cetera Investment Advisers purchased a new position in shares of CAVA Group during the 1st quarter worth about $2,455,000. Cetera Advisors LLC purchased a new position in shares of CAVA Group during the 1st quarter worth about $301,000. Finally, Mather Group LLC. purchased a new position in shares of CAVA Group during the 2nd quarter worth about $45,000. 73.15% of the stock is currently owned by institutional investors.

Insider Activity

In related news, Director Karen Kochevar sold 15,000 shares of the stock in a transaction on Tuesday, November 19th. The shares were 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 of the company's stock, valued at approximately $185,894.61. This represents a 91.99 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 12.10% of the company's stock.

Analyst Ratings Changes

CAVA has been the subject of a number of recent analyst reports. Morgan Stanley lifted their price target on shares of CAVA Group from $123.00 to $135.00 and gave the stock an "equal weight" rating in a research note on Thursday, November 14th. TD Cowen boosted their price objective on shares of CAVA Group from $130.00 to $150.00 and gave the company a "buy" rating in a research report on Wednesday, November 13th. Wedbush boosted their price objective on shares of CAVA Group from $155.00 to $190.00 and gave the company an "outperform" rating in a research report on Wednesday, November 13th. William Blair reissued an "outperform" rating on shares of CAVA Group in a research report on Wednesday, November 13th. Finally, Citigroup boosted their price objective on shares of CAVA Group from $140.00 to $163.00 and gave the company a "neutral" rating in a research report on Wednesday, November 13th. Eight investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $143.80.

CAVA Group Price Performance

CAVA Group stock traded up $5.69 during mid-day trading on Wednesday, reaching $147.53. 2,386,348 shares of the company traded hands, compared to its average volume of 2,770,838. CAVA Group, Inc. has a fifty-two week low of $31.47 and a fifty-two week high of $172.43. The company has a market capitalization of $16.90 billion, a price-to-earnings ratio of 320.72 and a beta of 2.93. The firm's fifty day moving average is $136.33 and its two-hundred day moving average is $110.58.

CAVA Group (NYSE:CAVA - Get Free Report) last released its quarterly earnings data on Tuesday, November 12th. The company reported $0.15 EPS for the quarter, beating the consensus estimate of $0.11 by $0.04. The business had revenue of $243.82 million for 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%. The business's revenue for the quarter was up 38.9% on a year-over-year basis. During the same period in the prior year, the firm earned $0.06 EPS. As a group, equities research analysts predict that CAVA Group, Inc. will post 0.5 earnings per share for the current year.

CAVA Group Profile

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.