Nepsis Inc. Buys 52,776 Shares of CAVA Group, Inc. $CAVA

Nepsis Inc. increased its stake in shares of CAVA Group, Inc. (NYSE:CAVA) by 42.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 176,694 shares of the company’s stock after acquiring an additional 52,776 shares during the quarter. CAVA Group makes up about 3.2% of Nepsis Inc.’s portfolio, making the stock its 19th largest position. Nepsis Inc. owned approximately 0.15% of CAVA Group worth $10,370,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also bought and sold shares of CAVA. Capital International Investors increased its stake in CAVA Group by 105.4% in the third quarter. Capital International Investors now owns 4,228,736 shares of the company’s stock valued at $255,451,000 after purchasing an additional 2,169,553 shares in the last quarter. William Blair Investment Management LLC bought a new position in shares of CAVA Group during the 3rd quarter worth about $114,098,000. Alliancebernstein L.P. grew its stake in shares of CAVA Group by 118.3% in the 3rd quarter. Alliancebernstein L.P. now owns 2,953,688 shares of the company’s stock valued at $178,432,000 after buying an additional 1,600,630 shares during the period. Capital Research Global Investors increased its position in CAVA Group by 28.5% in the 3rd quarter. Capital Research Global Investors now owns 6,634,866 shares of the company’s stock valued at $400,801,000 after buying an additional 1,469,758 shares in the last quarter. Finally, Champlain Investment Partners LLC increased its position in CAVA Group by 58.8% in the 3rd quarter. Champlain Investment Partners LLC now owns 2,146,502 shares of the company’s stock valued at $129,670,000 after buying an additional 794,547 shares in the last quarter. 73.15% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on CAVA. Wolfe Research initiated coverage on CAVA Group in a report on Monday, March 9th. They issued an “outperform” rating and a $93.00 price target on the stock. Piper Sandler boosted their price objective on CAVA Group from $71.00 to $85.00 and gave the company an “overweight” rating in a report on Wednesday, February 25th. Telsey Advisory Group upped their target price on CAVA Group from $85.00 to $88.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 25th. Weiss Ratings reiterated a “hold (c)” rating on shares of CAVA Group in a report on Wednesday, January 21st. Finally, KeyCorp boosted their price target on shares of CAVA Group from $65.00 to $95.00 and gave the company an “overweight” rating in a research note on Tuesday, March 3rd. Two analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and ten have assigned a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $84.68.

CAVA Group Trading Down 4.3%

NYSE CAVA opened at $75.47 on Friday. The business has a fifty day simple moving average of $73.45 and a 200 day simple moving average of $63.74. CAVA Group, Inc. has a 12 month low of $43.41 and a 12 month high of $101.50. The firm has a market capitalization of $8.78 billion, a P/E ratio of 139.76, a PEG ratio of 6.73 and a beta of 2.16.

CAVA Group (NYSE:CAVA) last posted its quarterly earnings data on Tuesday, February 24th. The company reported $0.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.03 by $0.01. The firm had revenue of $274.99 million for the quarter, compared to the consensus estimate of $268.04 million. CAVA Group had a net margin of 5.40% and a return on equity of 8.43%. The business’s revenue for the quarter was up 20.9% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.05 EPS. As a group, sell-side analysts predict that CAVA Group, Inc. will post 0.5 EPS for the current fiscal year.

Insider Buying and Selling at CAVA Group

In other CAVA Group news, insider Theodoros Xenohristos sold 1,039 shares of the stock in a transaction dated Tuesday, January 27th. The shares were sold at an average price of $62.14, for a total value of $64,563.46. Following the completion of the sale, the insider owned 332,205 shares in the company, valued at approximately $20,643,218.70. This trade represents a 0.31% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Brett Schulman sold 21,650 shares of CAVA Group stock in a transaction that occurred on Wednesday, January 21st. The stock was sold at an average price of $67.41, for a total transaction of $1,459,426.50. Following the transaction, the chief executive officer directly owned 807,325 shares in the company, valued at approximately $54,421,778.25. This represents a 2.61% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 39,055 shares of company stock valued at $2,572,303 in the last quarter. 6.80% of the stock is owned by company insiders.

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.