Nepsis Inc. Raises Stock Holdings in CAVA Group, Inc. $CAVA

Nepsis Inc. increased its holdings in shares of CAVA Group, Inc. (NYSE:CAVA) by 42.6% during the fourth quarter, HoldingsChannel.com reports. The fund owned 176,694 shares of the company’s stock after buying an additional 52,776 shares during the quarter. CAVA Group makes up approximately 3.2% of Nepsis Inc.’s investment portfolio, making the stock its 19th largest position. Nepsis Inc.’s holdings in CAVA Group were worth $10,370,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of CAVA. Global Retirement Partners LLC bought a new stake in shares of CAVA Group during the 2nd quarter worth $463,000. Liontrust Investment Partners LLP bought a new position in CAVA Group during the third quarter valued at about $43,189,000. Valeo Financial Advisors LLC purchased a new stake in CAVA Group during the second quarter worth about $57,824,000. Renaissance Capital LLC increased its holdings in CAVA Group by 42.7% during the third quarter. Renaissance Capital LLC now owns 105,730 shares of the company’s stock worth $6,387,000 after buying an additional 31,651 shares during the last quarter. Finally, Leibman Financial Services Inc. raised its position in CAVA Group by 162.9% in the fourth quarter. Leibman Financial Services Inc. now owns 67,324 shares of the company’s stock worth $3,951,000 after acquiring an additional 41,712 shares during the period. Institutional investors own 73.15% of the company’s stock.

Insider Buying and Selling at CAVA Group

In other news, CAO Adam David Phillips sold 774 shares of CAVA Group stock in a transaction on Tuesday, January 27th. The stock was sold at an average price of $62.14, for a total value of $48,096.36. Following the completion of the transaction, the chief accounting officer directly owned 10,435 shares in the company, valued at approximately $648,430.90. The trade was a 6.91% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Brett Schulman sold 4,542 shares of CAVA Group stock in a transaction on Tuesday, January 27th. The shares were sold at an average price of $62.14, for a total value of $282,239.88. Following the completion of the transaction, the chief executive officer owned 802,783 shares of the company’s stock, valued at approximately $49,884,935.62. This trade represents a 0.56% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 39,055 shares of company stock worth $2,572,303. Company insiders own 6.80% of the company’s stock.

CAVA Group Stock Down 4.3%

CAVA opened at $75.47 on Friday. The firm has a 50-day moving average price of $73.45 and a 200-day moving average price of $63.74. CAVA Group, Inc. has a twelve month low of $43.41 and a twelve month high of $101.50. The company has a market capitalization of $8.78 billion, a price-to-earnings ratio of 139.76, a PEG ratio of 6.73 and a beta of 2.16.

CAVA Group (NYSE:CAVA) last announced its quarterly earnings results on Tuesday, February 24th. The company reported $0.04 EPS for the quarter, beating analysts’ consensus estimates of $0.03 by $0.01. The company had revenue of $274.99 million for the quarter, compared to analysts’ expectations of $268.04 million. CAVA Group had a net margin of 5.40% and a return on equity of 8.43%. CAVA Group’s revenue was up 20.9% compared to the same quarter last year. During the same period in the prior year, the company posted $0.05 EPS. On average, sell-side analysts expect that CAVA Group, Inc. will post 0.5 earnings per share for the current fiscal year.

Analysts Set New Price Targets

CAVA has been the topic of a number of research analyst reports. Piper Sandler boosted their target price on shares of CAVA Group from $71.00 to $85.00 and gave the company an “overweight” rating in a research note on Wednesday, February 25th. Morgan Stanley lifted their price target on shares of CAVA Group from $80.00 to $83.00 and gave the stock an “equal weight” rating in a report on Wednesday, February 25th. Barclays upped their price objective on CAVA Group from $52.00 to $70.00 and gave the company an “equal weight” rating in a research note on Wednesday, January 7th. Telsey Advisory Group increased their price objective on CAVA Group from $85.00 to $88.00 and gave the company an “outperform” rating in a report on Wednesday, February 25th. Finally, DA Davidson assumed coverage on CAVA Group in a research report on Friday, March 6th. They issued a “neutral” rating and a $80.00 target price for the company. Two research analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and ten have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $84.68.

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.