Versant Capital Management Inc Takes $31,000 Position in CAVA Group, Inc. (NYSE:CAVA)

Versant Capital Management Inc acquired a new stake in shares of CAVA Group, Inc. (NYSE:CAVA) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 358 shares of the company’s stock, valued at approximately $31,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Modus Advisors LLC increased its holdings in shares of CAVA Group by 27.7% during the first quarter. Modus Advisors LLC now owns 6,116 shares of the company’s stock valued at $528,000 after acquiring an additional 1,325 shares in the last quarter. California State Teachers Retirement System grew its holdings in CAVA Group by 34.8% during the fourth quarter. California State Teachers Retirement System now owns 74,542 shares of the company’s stock worth $8,408,000 after buying an additional 19,225 shares in the last quarter. Cim LLC bought a new stake in CAVA Group during the fourth quarter worth $1,073,000. Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in CAVA Group during the fourth quarter worth $12,561,000. Finally, Jefferies Financial Group Inc. grew its holdings in CAVA Group by 84.6% during the fourth quarter. Jefferies Financial Group Inc. now owns 10,795 shares of the company’s stock worth $1,218,000 after buying an additional 4,946 shares in the last quarter. Institutional investors own 73.15% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the company. UBS Group decreased their price target on CAVA Group from $125.00 to $112.00 and set a “neutral” rating for the company in a report on Tuesday, May 13th. Loop Capital decreased their price target on CAVA Group from $147.00 to $100.00 and set a “hold” rating for the company in a report on Thursday, February 27th. William Blair reiterated an “outperform” rating on shares of CAVA Group in a report on Wednesday, February 26th. Wedbush reiterated an “outperform” rating and set a $150.00 price target on shares of CAVA Group in a report on Wednesday, February 26th. Finally, Citigroup upped their price target on CAVA Group from $114.00 to $115.00 and gave the stock a “neutral” rating in a report on Friday, May 16th. Five investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $123.00.

CAVA Group Price Performance

Shares of NYSE CAVA opened at $79.04 on Friday. CAVA Group, Inc. has a one year low of $70.00 and a one year high of $172.43. The business’s fifty day moving average price is $87.86 and its 200-day moving average price is $106.08. The stock has a market capitalization of $9.14 billion, a PE ratio of 171.83 and a beta of 2.77.

CAVA Group (NYSE:CAVA) last issued its quarterly earnings results on Thursday, May 15th. The company reported $0.22 EPS for the quarter, beating analysts’ consensus estimates of $0.14 by $0.08. CAVA Group had a return on equity of 9.10% and a net margin of 5.88%. The firm had revenue of $331.83 million for the quarter, compared to analysts’ expectations of $327.98 million. During the same quarter in the prior year, the firm earned $0.12 EPS. The business’s revenue for the quarter was up 28.1% compared to the same quarter last year. As a group, equities analysts expect that CAVA Group, Inc. will post 0.5 EPS for the current fiscal year.

Insider Activity

In related news, insider Kelly Costanza sold 10,243 shares of the stock in a transaction dated Wednesday, May 21st. The stock was sold at an average price of $86.63, for a total transaction of $887,351.09. Following the sale, the insider now owns 125,347 shares of the company’s stock, valued at approximately $10,858,810.61. This represents a 7.55% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Theodoros Xenohristos sold 9,348 shares of the stock in a transaction dated Friday, May 9th. The stock was sold at an average price of $94.88, for a total value of $886,938.24. Following the sale, the insider now directly owns 353,271 shares in the company, valued at $33,518,352.48. This trade represents a 2.58% decrease in their position. The disclosure for this sale can be found here. Insiders own 6.80% of the company’s stock.

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.