Virtu Financial LLC Boosts Position in CAVA Group, Inc. (NYSE:CAVA)

Virtu Financial LLC increased its stake in CAVA Group, Inc. (NYSE:CAVA - Free Report) by 306.9% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 40,088 shares of the company's stock after acquiring an additional 30,235 shares during the period. Virtu Financial LLC's holdings in CAVA Group were worth $4,965,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Geode Capital Management LLC increased its position in shares of CAVA Group by 121.0% in the third quarter. Geode Capital Management LLC now owns 1,222,834 shares of the company's stock valued at $151,492,000 after acquiring an additional 669,599 shares during the period. Renaissance Technologies LLC increased its holdings in CAVA Group by 102.5% during 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 period. Charles Schwab Investment Management Inc. increased its holdings in CAVA Group by 262.8% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 516,092 shares of the company's stock valued at $63,918,000 after purchasing an additional 373,835 shares during the period. Two Sigma Advisers LP raised its position in CAVA Group by 17.0% during the 3rd quarter. Two Sigma Advisers LP now owns 2,210,900 shares of the company's stock valued at $273,820,000 after purchasing an additional 321,800 shares during the last quarter. Finally, State Street Corp lifted its holdings in CAVA Group by 33.3% in the 3rd quarter. State Street Corp now owns 1,267,333 shares of the company's stock worth $156,959,000 after buying an additional 316,514 shares during the period. 73.15% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at CAVA Group

In related news, Director Karen Kochevar sold 15,000 shares of CAVA Group stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $142.23, for a total value of $2,133,450.00. Following the completion of the sale, the director now directly owns 1,307 shares in the company, valued at approximately $185,894.61. This trade represents a 91.99 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Ronald M. Shaich sold 622,549 shares of the company's stock in a transaction dated Monday, December 9th. The shares were sold at an average price of $149.40, for a total transaction of $93,008,820.60. Following the transaction, the director now owns 6,307 shares in the company, valued at $942,265.80. This represents a 99.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 652,549 shares of company stock valued at $97,242,271 over the last 90 days. Corporate insiders own 12.10% of the company's stock.

CAVA Group Stock Down 0.7 %

Shares of NYSE:CAVA traded down $0.95 on Thursday, hitting $126.64. 1,024,785 shares of the company traded hands, compared to its average volume of 2,794,876. The stock has a 50 day simple moving average of $137.71 and a 200-day simple moving average of $112.61. The company has a market cap of $14.51 billion, a PE ratio of 277.35 and a beta of 2.94. CAVA Group, Inc. has a 52 week low of $36.69 and a 52 week high of $172.43.

CAVA Group (NYSE:CAVA - Get Free Report) last released its quarterly earnings data 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 business had revenue of $243.82 million during the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same period last year, the business earned $0.06 EPS. As a group, sell-side analysts anticipate that CAVA Group, Inc. will post 0.5 earnings per share for the current year.

Analyst Ratings Changes

CAVA has been the topic of several recent analyst reports. TD Cowen lifted their price target on shares of CAVA Group from $130.00 to $150.00 and gave the company a "buy" rating in a report on Wednesday, November 13th. William Blair reaffirmed an "outperform" rating on shares of CAVA Group in a research note on Wednesday, November 13th. Sanford C. Bernstein assumed coverage on shares of CAVA Group in a research note on Wednesday, November 20th. They issued a "market perform" rating and a $145.00 price target for the company. TD Securities lifted their price objective on CAVA Group from $115.00 to $130.00 and gave the company a "buy" rating in a research report on Tuesday, September 24th. Finally, Citigroup increased their target price on CAVA Group from $140.00 to $163.00 and gave the stock a "neutral" rating in a research report on Wednesday, November 13th. Eight analysts have rated the stock with a hold rating and eight have issued a buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $143.80.

CAVA Group Company 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.