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

Nepsis Inc. reduced its stake in CAVA Group, Inc. (NYSE:CAVA - Free Report) by 49.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 75,290 shares of the company's stock after selling 72,217 shares during the quarter. CAVA Group accounts for 1.2% of Nepsis Inc.'s investment portfolio, making the stock its 19th biggest holding. Nepsis Inc. owned about 0.07% of CAVA Group worth $8,493,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also modified their holdings of CAVA. Encompass More Asset Management purchased a new position in shares of CAVA Group during the 4th quarter worth approximately $452,000. Conway Capital Management Inc. lifted its holdings in CAVA Group by 10.6% in the fourth quarter. Conway Capital Management Inc. now owns 49,325 shares of the company's stock valued at $5,564,000 after acquiring an additional 4,725 shares during the period. Key Client Fiduciary Advisors LLC boosted its position in shares of CAVA Group by 3.9% during the 4th quarter. Key Client Fiduciary Advisors LLC now owns 5,356 shares of the company's stock worth $604,000 after purchasing an additional 202 shares in the last quarter. Verde Capital Management acquired a new position in shares of CAVA Group during the 4th quarter worth $1,700,000. Finally, Janney Montgomery Scott LLC purchased a new position in shares of CAVA Group in the 4th quarter valued at about $3,056,000. Institutional investors and hedge funds own 73.15% of the company's stock.

CAVA Group Stock Performance

NYSE CAVA traded up $0.96 during trading hours on Friday, hitting $124.97. 1,635,974 shares of the company's stock were exchanged, compared to its average volume of 1,751,678. The business's 50 day moving average is $126.05 and its 200-day moving average is $118.54. CAVA Group, Inc. has a 12-month low of $44.80 and a 12-month high of $172.43. The firm has a market capitalization of $14.32 billion, a P/E ratio of 271.68 and a beta of 3.21.

CAVA Group (NYSE:CAVA - Get Free Report) last announced its quarterly earnings data on Tuesday, November 12th. The company reported $0.15 earnings per share for the quarter, topping the consensus estimate of $0.11 by $0.04. CAVA Group had a net margin of 5.88% and a return on equity of 9.10%. The business had revenue of $243.82 million for the quarter, compared to analyst estimates of $233.05 million. During the same period in the prior year, the firm posted $0.06 EPS. The company's revenue was up 38.9% on a year-over-year basis. As a group, equities research analysts anticipate that CAVA Group, Inc. will post 0.5 EPS for the current fiscal year.

Insider Buying and Selling at CAVA Group

In other news, Director Ronald M. Shaich sold 622,549 shares of the firm's stock in a transaction on Monday, December 9th. The shares were sold at an average price of $149.40, for a total value of $93,008,820.60. Following the transaction, the director now owns 6,307 shares of the company's stock, valued at approximately $942,265.80. This trade represents a 99.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Karen Kochevar sold 15,000 shares of the company's stock in a transaction on Friday, November 15th. The stock was sold at an average price of $140.00, for a total transaction of $2,100,000.00. Following the sale, the director now directly owns 1,307 shares of the company's stock, valued at approximately $182,980. This trade represents a 91.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 676,050 shares of company stock worth $100,043,120 in the last quarter. 12.10% of the stock is owned by insiders.

Analyst Ratings Changes

Several research analysts have weighed in on the stock. Stifel Nicolaus upped their target price on shares of CAVA Group from $118.00 to $175.00 and gave the stock a "buy" rating in a research report on Wednesday, November 13th. Sanford C. Bernstein assumed coverage on CAVA Group in a report on Wednesday, November 20th. They set a "market perform" rating and a $145.00 price objective for the company. TD Cowen upped their target price on CAVA Group from $130.00 to $150.00 and gave the company a "buy" rating in a report on Wednesday, November 13th. Morgan Stanley lifted their price target on CAVA Group from $123.00 to $135.00 and gave the stock an "equal weight" rating in a research note on Thursday, November 14th. Finally, William Blair reissued an "outperform" rating on shares of CAVA Group in a research note on Wednesday, November 13th. Eight analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $142.13.

CAVA Group Company 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.