CAVA Group (NYSE:CAVA) CFO Sells $149,384.56 in Stock

CAVA Group, Inc. (NYSE:CAVA) CFO Tricia Tolivar sold 2,404 shares of the company’s stock in a transaction that occurred on Tuesday, January 27th. The shares were sold at an average price of $62.14, for a total transaction of $149,384.56. Following the transaction, the chief financial officer owned 231,934 shares in the company, valued at $14,412,378.76. The trade was a 1.03% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website.

CAVA Group Price Performance

CAVA Group stock traded up $0.30 during trading hours on Thursday, hitting $63.00. 2,829,528 shares of the stock traded hands, compared to its average volume of 3,729,937. The firm’s 50 day moving average price is $59.13 and its 200-day moving average price is $64.65. The stock has a market capitalization of $7.31 billion, a price-to-earnings ratio of 54.31, a P/E/G ratio of 4.46 and a beta of 2.41. CAVA Group, Inc. has a 1 year low of $43.41 and a 1 year high of $144.49.

CAVA Group (NYSE:CAVA) last released its earnings results on Tuesday, November 4th. The company reported $0.12 EPS for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.01). CAVA Group had a return on equity of 8.88% and a net margin of 12.14%.The firm had revenue of $292.24 million for the quarter, compared to analyst estimates of $292.88 million. During the same period last year, the firm earned $0.15 EPS. The company’s revenue for the quarter was up 19.9% compared to the same quarter last year. Research analysts forecast that CAVA Group, Inc. will post 0.5 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

CAVA has been the subject of several recent research reports. Johnson Rice set a $72.00 target price on shares of CAVA Group in a report on Monday, January 5th. Truist Financial upped their target price on CAVA Group from $66.00 to $78.00 and gave the stock a “buy” rating in a research note on Thursday, January 8th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of CAVA Group in a report on Wednesday, January 21st. UBS Group boosted their price target on CAVA Group from $58.00 to $66.00 and gave the company a “neutral” rating in a report on Tuesday, January 6th. Finally, Sanford C. Bernstein set a $70.00 price objective on CAVA Group in a research report on Wednesday, January 7th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and nine have given a Hold rating to the company’s stock. According to MarketBeat.com, CAVA Group presently has an average rating of “Moderate Buy” and a consensus price target of $81.57.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Bison Wealth LLC purchased a new stake in CAVA Group in the 4th quarter worth $208,000. Goldman Sachs Group Inc. increased its stake in shares of CAVA Group by 14.3% during the first quarter. Goldman Sachs Group Inc. now owns 606,780 shares of the company’s stock worth $52,432,000 after purchasing an additional 75,828 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in shares of CAVA Group by 17.3% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 236,622 shares of the company’s stock worth $20,447,000 after purchasing an additional 34,860 shares in the last quarter. Farther Finance Advisors LLC raised its position in shares of CAVA Group by 44.7% during the 2nd quarter. Farther Finance Advisors LLC now owns 3,141 shares of the company’s stock worth $265,000 after purchasing an additional 970 shares during the last quarter. Finally, Park Avenue Securities LLC purchased a new position in CAVA Group in the 2nd quarter valued at about $244,000. Hedge funds and other institutional investors own 73.15% of the company’s stock.

About CAVA Group

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.