Jupiter Topco LLC Acquires New Shares in CAVA Group, Inc. $CAVA

Jupiter Topco LLC acquired a new position in shares of CAVA Group, Inc. (NYSE:CAVA) in the 2nd quarter, HoldingsChannel.com reports. The fund acquired 40,200 shares of the company’s stock, valued at approximately $3,157,000.

A number of other institutional investors also recently bought and sold shares of the company. Ancora Advisors LLC acquired a new stake in CAVA Group in the second quarter valued at $27,000. Primecap Management Co. CA acquired a new position in shares of CAVA Group during the 2nd quarter worth $92,956,000. Canada Pension Plan Investment Board acquired a new position in shares of CAVA Group during the 2nd quarter worth $4,976,000. Castleark Management LLC purchased a new stake in shares of CAVA Group in the 2nd quarter worth about $6,784,000. Finally, Nicholas Investment Partners LP purchased a new stake in shares of CAVA Group in the 2nd quarter worth about $9,408,000. 73.15% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at CAVA Group

In other news, insider Douglas W. Thompson acquired 6,500 shares of CAVA Group stock in a transaction that occurred on Monday, August 31st. The shares were acquired at an average price of $66.52 per share, with a total value of $432,380.00. Following the completion of the purchase, the insider owned 19,371 shares of the company’s stock, valued at approximately $1,288,558.92. This represents a 50.50% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Theodoros Xenohristos sold 3,252 shares of the firm’s stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $89.43, for a total transaction of $290,826.36. Following the sale, the insider owned 324,630 shares in the company, valued at approximately $29,031,660.90. This trade represents a 0.99% 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 valued at $6,050,417. Corporate insiders own 6.70% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently commented on CAVA shares. TD Cowen lowered their price objective on shares of CAVA Group from $100.00 to $85.00 and set a “buy” rating on the stock in a research note on Wednesday, August 12th. KeyCorp cut their target price on shares of CAVA Group from $110.00 to $95.00 and set an “overweight” rating for the company in a research report on Wednesday, August 12th. Guggenheim reduced their price target on shares of CAVA Group from $100.00 to $95.00 and set a “buy” rating on the stock in a report on Thursday, August 13th. Mizuho lowered their price target on shares of CAVA Group from $85.00 to $70.00 and set a “neutral” rating on the stock in a research report on Wednesday, August 12th. Finally, Weiss Ratings lowered shares of CAVA Group from a “hold (c)” rating to a “hold (c-)” rating in a research report on Friday, July 24th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and nine have issued a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $89.44.

CAVA Group Stock Up 0.9%

CAVA opened at $61.64 on Thursday. The firm has a market cap of $7.20 billion, a P/E ratio of 112.08, a PEG ratio of 4.79 and a beta of 1.74. CAVA Group, Inc. has a 52 week low of $43.41 and a 52 week high of $98.79. The business’s fifty day simple moving average is $68.94 and its 200 day simple moving average is $77.28.

CAVA Group (NYSE:CAVA) last posted its quarterly earnings data 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 firm had revenue of $368.44 million during the quarter, compared to analysts’ expectations of $360.09 million. During the same quarter last year, the business posted $0.16 EPS. The firm’s quarterly revenue was up 31.3% compared to the same quarter last year. As a group, equities analysts expect that CAVA Group, Inc. will post 0.54 EPS for the current fiscal 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.