119,882 Shares in CAVA Group, Inc. $CAVA Acquired by Nicholas Investment Partners LP

Nicholas Investment Partners LP acquired a new stake in CAVA Group, Inc. (NYSE:CAVA) in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 119,882 shares of the company’s stock, valued at approximately $9,408,000. Nicholas Investment Partners LP owned about 0.10% of CAVA Group as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Los Angeles Capital Management LLC purchased a new stake in shares of CAVA Group during the fourth quarter worth $25,000. FNY Investment Advisers LLC purchased a new position in shares of CAVA Group in the second quarter worth about $31,000. TD Private Client Wealth LLC lifted its stake in shares of CAVA Group by 118.2% in the fourth quarter. TD Private Client Wealth LLC now owns 600 shares of the company’s stock worth $35,000 after buying an additional 325 shares in the last quarter. Allworth Financial LP boosted its position in CAVA Group by 57.4% during the fourth quarter. Allworth Financial LP now owns 650 shares of the company’s stock worth $38,000 after acquiring an additional 237 shares during the last quarter. Finally, EverSource Wealth Advisors LLC boosted its position in CAVA Group by 115.7% during the fourth quarter. EverSource Wealth Advisors LLC now owns 647 shares of the company’s stock worth $38,000 after acquiring an additional 347 shares during the last quarter. Hedge funds and other institutional investors own 73.15% of the company’s stock.

Insider Transactions at CAVA Group

In other CAVA Group news, CFO Tricia K. Tolivar sold 4,969 shares of the firm’s stock in a transaction on Monday, June 15th. The stock was sold at an average price of $89.43, for a total transaction of $444,377.67. Following the completion of the sale, the chief financial officer owned 234,931 shares of the company’s stock, valued at $21,009,879.33. This trade represents a 2.07% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Brett Schulman sold 33,174 shares of the company’s stock in a transaction on Monday, June 15th. The shares were sold at an average price of $89.43, for a total value of $2,966,750.82. Following the completion of the transaction, the chief executive officer directly owned 798,669 shares in the company, valued at approximately $71,424,968.67. This trade represents a 3.99% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 67,512 shares of company stock valued at $6,050,417 in the last ninety days. 6.70% of the stock is currently owned by corporate insiders.

CAVA Group Trading Down 2.1%

CAVA Group stock opened at $72.08 on Tuesday. CAVA Group, Inc. has a 12-month low of $43.41 and a 12-month high of $98.79. The stock has a market cap of $8.42 billion, a P/E ratio of 131.06, a PEG ratio of 5.07 and a beta of 1.75. The company has a 50-day moving average price of $71.65 and a 200 day moving average price of $77.37.

CAVA Group (NYSE:CAVA) last posted its earnings results on Tuesday, August 11th. The company reported $0.19 earnings per share for the quarter, beating the consensus estimate of $0.18 by $0.01. CAVA Group had a net margin of 4.82% and a return on equity of 8.28%. The company had revenue of $368.44 million for the quarter, compared to analyst estimates of $360.09 million. During the same period in the previous year, the business posted $0.16 EPS. CAVA Group’s revenue was up 31.3% on a year-over-year basis. As a group, analysts forecast that CAVA Group, Inc. will post 0.53 EPS for the current year.

Analyst Ratings Changes

A number of analysts have commented on the stock. Piper Sandler increased their price objective on shares of CAVA Group from $85.00 to $92.00 and gave the company an “overweight” rating in a report on Wednesday, May 20th. UBS Group upgraded CAVA Group from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $85.00 to $90.00 in a report on Wednesday, June 10th. Northcoast Research upgraded CAVA Group from a “sell” rating to a “neutral” rating in a research report on Thursday, August 13th. Telsey Advisory Group upped their price target on CAVA Group from $92.00 to $95.00 and gave the company an “outperform” rating in a research report on Wednesday, May 20th. Finally, Citigroup reaffirmed a “buy” rating on shares of CAVA Group in a report on Tuesday, July 28th. Seventeen investment analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $89.44.

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.