Nepsis Inc. Acquires 59,765 Shares of CAVA Group, Inc. (NYSE:CAVA)

Nepsis Inc. increased its holdings in CAVA Group, Inc. (NYSE:CAVA) by 79.4% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 135,055 shares of the company’s stock after purchasing an additional 59,765 shares during the period. CAVA Group makes up 2.9% of Nepsis Inc.’s portfolio, making the stock its 19th biggest position. Nepsis Inc. owned about 0.12% of CAVA Group worth $11,670,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Arcadia Investment Management Corp MI bought a new position in shares of CAVA Group during the 4th quarter worth approximately $25,000. Allworth Financial LP lifted its holdings in shares of CAVA Group by 369.2% during the fourth quarter. Allworth Financial LP now owns 244 shares of the company’s stock valued at $30,000 after acquiring an additional 192 shares during the period. Larson Financial Group LLC boosted its stake in shares of CAVA Group by 274.0% in the 4th quarter. Larson Financial Group LLC now owns 273 shares of the company’s stock valued at $31,000 after purchasing an additional 200 shares in the last quarter. Versant Capital Management Inc bought a new stake in shares of CAVA Group in the 1st quarter worth about $31,000. Finally, Whittier Trust Co. grew its holdings in shares of CAVA Group by 80.9% in the 4th quarter. Whittier Trust Co. now owns 284 shares of the company’s stock worth $32,000 after purchasing an additional 127 shares during the last quarter. Institutional investors own 73.15% of the company’s stock.

CAVA Group Stock Down 0.9%

Shares of NYSE CAVA opened at $78.31 on Tuesday. CAVA Group, Inc. has a twelve month low of $70.00 and a twelve month high of $172.43. The stock has a market cap of $9.06 billion, a price-to-earnings ratio of 170.24 and a beta of 2.77. The company’s fifty day moving average is $87.61 and its 200-day moving average is $105.11.

CAVA Group (NYSE:CAVA) last posted its earnings results on Thursday, May 15th. The company reported $0.22 earnings per share for the quarter, topping the consensus estimate 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 analyst estimates of $327.98 million. During the same period in the previous year, the company posted $0.12 earnings per share. The company’s revenue for the quarter was up 28.1% on a year-over-year basis. On average, research analysts anticipate that CAVA Group, Inc. will post 0.5 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms have commented on CAVA. Wedbush restated an “outperform” rating and issued a $150.00 price target on shares of CAVA Group in a research report on Wednesday, February 26th. Sanford C. Bernstein raised CAVA Group from a “market perform” rating to an “outperform” rating and set a $115.00 price objective on the stock in a research note on Wednesday, April 23rd. Bank of America lifted their price target on CAVA Group from $112.00 to $121.00 and gave the company a “buy” rating in a report on Monday, May 19th. TD Securities reiterated a “buy” rating and set a $120.00 price target on shares of CAVA Group in a research report on Friday, May 16th. Finally, Piper Sandler upgraded shares of CAVA Group from a “neutral” rating to an “overweight” rating and lowered their price objective for the company from $142.00 to $115.00 in a research report on Friday, February 28th. Five research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat.com, CAVA Group has a consensus rating of “Moderate Buy” and a consensus price target of $123.00.

Insider Activity

In other CAVA Group news, 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 transaction of $886,938.24. Following the completion of the transaction, the insider now owns 353,271 shares in the company, valued at approximately $33,518,352.48. This represents a 2.58% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Kelly Costanza sold 10,243 shares of the business’s stock in a transaction dated Wednesday, May 21st. The shares were sold at an average price of $86.63, for a total value of $887,351.09. Following the completion of the sale, the insider now owns 125,347 shares in the company, valued at approximately $10,858,810.61. This trade represents a 7.55% decrease in their ownership of the stock. The disclosure for this sale can be found here. 6.80% of the stock is currently owned by company insiders.

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.