CAVA Group, Inc. (NYSE:CAVA) Director Sells $3,225,951.31 in Stock

CAVA Group, Inc. (NYSE:CAVA) Director Theodoros Xenohristos sold 47,239 shares of the business’s stock in a transaction dated Tuesday, March 26th. The stock was sold at an average price of $68.29, for a total transaction of $3,225,951.31. Following the sale, the director now owns 526,521 shares in the company, valued at $35,956,119.09. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

CAVA Group Price Performance

Shares of NYSE:CAVA traded up $0.88 during midday trading on Thursday, hitting $70.05. 1,857,137 shares of the stock were exchanged, compared to its average volume of 2,221,655. The business’s fifty day simple moving average is $55.83 and its two-hundred day simple moving average is $42.74. CAVA Group, Inc. has a 52-week low of $29.05 and a 52-week high of $71.50.

CAVA Group (NYSE:CAVA) last announced its quarterly earnings results on Monday, February 26th. The company reported $0.02 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.01 by $0.01. CAVA Group had a return on equity of 4.28% and a net margin of 1.82%. The business had revenue of $175.50 million during the quarter, compared to analyst estimates of $240.03 million. CAVA Group’s quarterly revenue was up 52.6% on a year-over-year basis. As a group, sell-side analysts predict that CAVA Group, Inc. will post 0.24 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on CAVA shares. TD Cowen started coverage on CAVA Group in a research report on Wednesday, December 13th. They issued an “outperform” rating and a $46.00 target price for the company. Morgan Stanley raised their target price on CAVA Group from $49.00 to $62.00 and gave the company an “overweight” rating in a research note on Wednesday, February 28th. Piper Sandler boosted their price target on shares of CAVA Group from $46.00 to $63.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 28th. JPMorgan Chase & Co. raised their price objective on shares of CAVA Group from $50.00 to $64.00 and gave the company an “overweight” rating in a research report on Tuesday, March 19th. Finally, Citigroup boosted their target price on shares of CAVA Group from $49.00 to $60.00 and gave the stock a “neutral” rating in a report on Wednesday, February 28th. Four research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $56.50.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. Revolution Growth Management Company Inc. bought a new position in CAVA Group during the second quarter valued at about $265,169,000. Capital Research Global Investors lifted its holdings in CAVA Group by 249.5% in the 4th quarter. Capital Research Global Investors now owns 4,369,281 shares of the company’s stock worth $187,792,000 after purchasing an additional 3,119,281 shares during the last quarter. 1832 Asset Management L.P. boosted its position in CAVA Group by 79.5% during the fourth quarter. 1832 Asset Management L.P. now owns 2,248,400 shares of the company’s stock worth $96,636,000 after purchasing an additional 995,800 shares during the period. Vanguard Group Inc. raised its position in shares of CAVA Group by 7.2% in the fourth quarter. Vanguard Group Inc. now owns 1,566,196 shares of the company’s stock valued at $67,315,000 after purchasing an additional 105,372 shares during the period. Finally, Jennison Associates LLC lifted its stake in shares of CAVA Group by 24.7% in the fourth quarter. Jennison Associates LLC now owns 1,222,240 shares of the company’s stock worth $52,532,000 after buying an additional 242,376 shares during the last quarter. Institutional investors and hedge funds own 73.15% of the company’s stock.

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.