CAVA Group, Inc. (NYSE:CAVA) Shares Acquired by Nepsis Inc.

Nepsis Inc. boosted its stake in shares of CAVA Group, Inc. (NYSE:CAVA - Free Report) by 79.4% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 135,055 shares of the company's stock after buying an additional 59,765 shares during the quarter. CAVA Group accounts for approximately 2.9% of Nepsis Inc.'s portfolio, making the stock its 19th largest holding. Nepsis Inc. owned 0.12% of CAVA Group worth $11,670,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of CAVA. Stratos Wealth Partners LTD. grew its position in shares of CAVA Group by 4.2% in the fourth quarter. Stratos Wealth Partners LTD. now owns 6,293 shares of the company's stock valued at $710,000 after purchasing an additional 251 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. acquired a new position in CAVA Group in the 4th quarter valued at about $553,000. Golden State Wealth Management LLC acquired a new position in shares of CAVA Group during the 4th quarter valued at about $47,000. Kingsview Wealth Management LLC grew its holdings in CAVA Group by 2.7% in the fourth quarter. Kingsview Wealth Management LLC now owns 24,288 shares of the company's stock valued at $2,740,000 after purchasing an additional 633 shares during the period. Finally, Empowered Funds LLC acquired a new stake in shares of CAVA Group during the 4th quarter worth $5,007,000. Hedge funds and other institutional investors own 73.15% of the company's stock.

CAVA Group Price Performance

CAVA traded down $2.32 during midday trading on Friday, reaching $75.93. 2,409,974 shares of the company's stock traded hands, compared to its average volume of 3,093,671. CAVA Group, Inc. has a 52 week low of $70.00 and a 52 week high of $172.43. The stock has a market capitalization of $8.78 billion, a price-to-earnings ratio of 164.98 and a beta of 2.77. The firm has a fifty day moving average of $87.51 and a two-hundred day moving average of $104.28.

CAVA Group (NYSE:CAVA - Get Free Report) last released its quarterly 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 net margin of 5.88% and a return on equity of 9.10%. The business had revenue of $331.83 million for the quarter, compared to the consensus estimate of $327.98 million. During the same period last year, the firm earned $0.12 earnings per share. The company's quarterly revenue was up 28.1% on a year-over-year basis. Sell-side analysts forecast that CAVA Group, Inc. will post 0.5 EPS for the current year.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the company. Piper Sandler raised CAVA Group from a "neutral" rating to an "overweight" rating and dropped their price target for the company from $142.00 to $115.00 in a research report on Friday, February 28th. Sanford C. Bernstein raised CAVA Group from a "market perform" rating to an "outperform" rating and set a $115.00 target price for the company in a research note on Wednesday, April 23rd. TD Securities restated a "buy" rating and set a $120.00 price objective on shares of CAVA Group in a research report on Friday, May 16th. JPMorgan Chase & Co. upgraded shares of CAVA Group from a "neutral" rating to an "overweight" rating and set a $110.00 price target on the stock in a research report on Thursday, March 20th. Finally, William Blair reaffirmed an "outperform" rating on shares of CAVA Group in a research report on Wednesday, February 26th. Five analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $123.00.

Insiders Place Their Bets

In other news, insider Theodoros Xenohristos sold 9,348 shares of the firm's stock in a transaction dated Friday, May 9th. The shares were 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 approximately $33,518,352.48. This trade represents a 2.58% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Kelly Costanza sold 10,243 shares of CAVA Group stock in a transaction that occurred on Wednesday, May 21st. The stock was sold at an average price of $86.63, for a total transaction of $887,351.09. Following the completion of the transaction, the insider now directly owns 125,347 shares in the company, valued at approximately $10,858,810.61. The trade was a 7.55% 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.