NWK Group Inc. Purchases New Shares in CAVA Group, Inc. $CAVA

Key Points

• NWK Group acquired 54,620 CAVA shares in the second quarter, valued at approximately $4.29 million. CAVA now represents 1.3% of NWK’s portfolio, while institutional investors collectively own 73.15% of the stock.
• CAVA reported quarterly EPS of $0.19, beating estimates by $0.01, while revenue reached $368.44 million, up 31.3% year over year and above analyst expectations.
• The stock was trading at $71.59, with a consensus “Moderate Buy” rating and an average analyst price target of $89.44. However, insiders sold 67,512 shares worth about $6.05 million over the last quarter.

NWK Group Inc. acquired a new position in CAVA Group, Inc. (NYSE:CAVA - Free Report) in the second quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 54,620 shares of the company's stock, valued at approximately $4,287,000. CAVA Group accounts for 1.3% of NWK Group Inc.'s investment portfolio, making the stock its 26th largest position.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Los Angeles Capital Management LLC acquired a new position in shares of CAVA Group in the 4th quarter valued at about $25,000. FNY Investment Advisers LLC acquired a new stake in shares of CAVA Group during the second quarter worth approximately $31,000. TD Private Client Wealth LLC grew its position in CAVA Group by 118.2% during 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 in the last quarter. Allworth Financial LP increased its stake in CAVA Group by 57.4% in the 4th quarter. Allworth Financial LP now owns 650 shares of the company's stock valued at $38,000 after buying an additional 237 shares during the period. Finally, EverSource Wealth Advisors LLC increased its stake in CAVA Group by 115.7% in the 4th quarter. EverSource Wealth Advisors LLC now owns 647 shares of the company's stock valued at $38,000 after buying an additional 347 shares during the period. 73.15% of the stock is currently owned by hedge funds and other institutional investors.

CAVA Group Trading Up 4.9%

NYSE CAVA opened at $71.59 on Thursday. The company has a fifty day simple moving average of $72.66 and a 200 day simple moving average of $77.11. The company has a market cap of $8.36 billion, a P/E ratio of 130.16, a P/E/G ratio of 4.70 and a beta of 1.74. CAVA Group, Inc. has a 1 year low of $43.41 and a 1 year high of $98.79.

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

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. Weiss Ratings lowered shares of CAVA Group from a "hold (c)" rating to a "hold (c-)" rating in a research note on Friday, July 24th. KeyCorp dropped their price target on shares of CAVA Group from $110.00 to $95.00 and set an "overweight" rating on the stock in a research note on Wednesday, August 12th. Argus set a $92.00 price objective on CAVA Group in a report on Friday, May 22nd. Freedom Capital raised CAVA Group to a "hold" rating in a research report on Wednesday, July 1st. Finally, Mizuho lowered their target price on CAVA Group from $85.00 to $70.00 and set a "neutral" rating on the stock in a research note on Wednesday, August 12th. Seventeen investment analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $89.44.

Insider Activity

In other news, Director Karen Kochevar sold 10,000 shares of the business's stock in a transaction dated Thursday, June 18th. The shares were sold at an average price of $90.00, for a total transaction of $900,000.00. Following the transaction, the director owned 3,074 shares in the company, valued at approximately $276,660. The trade was a 76.49% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Brett Schulman sold 33,174 shares of the company's stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $89.43, for a total transaction of $2,966,750.82. Following the transaction, the chief executive officer directly owned 798,669 shares of the company's stock, valued at $71,424,968.67. This represents a 3.99% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last quarter, insiders sold 67,512 shares of company stock worth $6,050,417. Corporate insiders own 6.70% of the company's stock.

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.

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