Jupiter Topco LLC Invests $3.16 Million in CAVA Group, Inc. $CAVA

Key Points

• Jupiter Topco LLC acquired 40,200 CAVA shares during the second quarter, worth approximately $3.16 million. Institutional investors collectively own 73.15% of the company.
• CAVA reported quarterly revenue of $368.44 million, up 31.3% year over year, and earnings of $0.19 per share, topping analysts’ expectations.
• Despite recent insider selling and shares opening at $61.64, analysts maintain a “Moderate Buy” consensus with an average price target of $89.44, implying substantial potential upside.

Jupiter Topco LLC purchased a new position in shares of CAVA Group, Inc. (NYSE:CAVA - Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 40,200 shares of the company's stock, valued at approximately $3,157,000.

Several other institutional investors have also recently added to or reduced their stakes in CAVA. Los Angeles Capital Management LLC acquired a new stake in CAVA Group during the 4th quarter worth approximately $25,000. Ancora Advisors LLC purchased a new position in shares of CAVA Group in the 2nd quarter valued at approximately $27,000. FNY Investment Advisers LLC acquired a new position in shares of CAVA Group in the second quarter valued at approximately $31,000. TD Private Client Wealth LLC increased its holdings 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 valued at $35,000 after purchasing an additional 325 shares during the period. Finally, Allworth Financial LP increased its holdings in shares of CAVA Group by 57.4% in the fourth quarter. Allworth Financial LP now owns 650 shares of the company's stock valued at $38,000 after purchasing an additional 237 shares during the period. Institutional investors and hedge funds own 73.15% of the company's stock.

Insiders Place Their Bets

In related news, Director Karen Kochevar sold 10,000 shares of the firm's stock in a transaction dated Thursday, June 18th. The shares were sold at an average price of $90.00, for a total value of $900,000.00. Following the completion of the sale, the director owned 3,074 shares in the company, valued at $276,660. This trade represents a 76.49% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Kelly Costanza sold 12,490 shares of the firm's stock in a transaction dated Wednesday, June 17th. The shares were sold at an average price of $90.00, for a total transaction of $1,124,100.00. Following the completion of the sale, the insider owned 98,490 shares of the company's stock, valued at $8,864,100. This trade represents a 11.25% 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. Over the last three months, insiders have sold 67,512 shares of company stock worth $6,050,417. Insiders own 6.70% of the company's stock.

CAVA Group Price Performance

Shares of CAVA stock opened at $61.64 on Thursday. The business's fifty day moving average price is $68.94 and its 200 day moving average price is $77.28. CAVA Group, Inc. has a 1-year low of $43.41 and a 1-year high of $98.79. The firm has a market capitalization of $7.20 billion, a PE ratio of 112.08, a P/E/G ratio of 4.79 and a beta of 1.74.

CAVA Group (NYSE:CAVA - Get Free Report) last released its earnings results on Tuesday, August 11th. The company reported $0.19 EPS for the quarter, beating analysts' consensus estimates of $0.18 by $0.01. The company had revenue of $368.44 million during the quarter, compared to the consensus estimate of $360.09 million. CAVA Group had a return on equity of 8.28% and a net margin of 4.82%.CAVA Group's quarterly revenue was up 31.3% compared to the same quarter last year. During the same quarter last year, the company earned $0.16 earnings per share. Equities research analysts expect that CAVA Group, Inc. will post 0.54 earnings per share for the current fiscal year.

Analysts Set New Price Targets

CAVA has been the subject of several recent research reports. Royal Bank Of Canada increased their price target on CAVA Group from $90.00 to $95.00 and gave the stock an "outperform" rating in a report on Wednesday, August 12th. Piper Sandler boosted their price objective on shares of CAVA Group from $85.00 to $92.00 and gave the company an "overweight" rating in a research note on Wednesday, May 20th. Freedom Capital upgraded shares of CAVA Group to a "hold" rating in a research report on Wednesday, July 1st. Argus set a $92.00 price objective on shares of CAVA Group in a research report on Friday, May 22nd. Finally, Stifel Nicolaus raised their target price on shares of CAVA Group from $90.00 to $105.00 and gave the stock a "buy" rating in a research note on Wednesday, May 20th. One research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and nine have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $89.44.

CAVA Group Company 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source