54,620 Shares in CAVA Group, Inc. $CAVA Bought by NWK Group Inc.

NWK Group Inc. purchased a new position in shares of CAVA Group, Inc. (NYSE:CAVA) during the second quarter, Holdings Channel.com reports. The institutional investor purchased 54,620 shares of the company’s stock, valued at approximately $4,287,000. CAVA Group makes up approximately 1.3% of NWK Group Inc.’s portfolio, making the stock its 26th biggest holding.

Other institutional investors have also recently bought and sold shares of the company. Oppenheimer Asset Management Inc. bought a new stake in shares of CAVA Group in the 2nd quarter valued at approximately $1,551,000. Prospect Financial Services LLC acquired a new position in shares of CAVA Group in the 2nd quarter worth approximately $1,348,000. Prime Capital Management Co Ltd lifted its position in shares of CAVA Group by 90.6% during the 4th quarter. Prime Capital Management Co Ltd now owns 1,031,630 shares of the company’s stock worth $60,546,000 after buying an additional 490,300 shares during the period. Norges Bank acquired a new stake in CAVA Group in the 4th quarter valued at $50,278,000. Finally, Principal Financial Group Inc. boosted its stake in CAVA Group by 215.2% in the 4th quarter. Principal Financial Group Inc. now owns 695,961 shares of the company’s stock valued at $40,846,000 after buying an additional 475,189 shares in the last quarter. Institutional investors and hedge funds own 73.15% of the company’s stock.

Insider Activity

In other news, insider Kelly Costanza sold 12,490 shares of the stock in a transaction on 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 represents a 11.25% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CAO Adam David Phillips sold 757 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 $67,698.51. Following the sale, the chief accounting officer owned 6,848 shares in the company, valued at approximately $612,416.64. The trade was a 9.95% decrease in their ownership of the stock. 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. In the last ninety days, insiders sold 67,512 shares of company stock worth $6,050,417. Corporate insiders own 6.70% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on CAVA shares. TD Cowen dropped their price objective on CAVA Group from $100.00 to $85.00 and set a “buy” rating for the company in a research note on Wednesday, August 12th. Argus set a $92.00 target price on shares of CAVA Group in a report on Friday, May 22nd. Telsey Advisory Group increased their target price on shares of CAVA Group from $92.00 to $95.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 20th. Citigroup reissued a “buy” rating on shares of CAVA Group in a report on Tuesday, July 28th. Finally, Barclays boosted their price target on shares of CAVA Group from $70.00 to $74.00 and gave the company an “equal weight” rating in a research report on Wednesday, May 20th. Seventeen analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $89.44.

CAVA Group Price Performance

Shares of CAVA stock opened at $71.59 on Thursday. CAVA Group, Inc. has a one year low of $43.41 and a one year high of $98.79. The stock has a market cap of $8.36 billion, a PE ratio of 130.16, a price-to-earnings-growth ratio of 4.70 and a beta of 1.74. The stock has a 50-day moving average of $72.66 and a 200-day moving average of $77.11.

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

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.