Insider Selling: CAVA Group (NYSE:CAVA) CAO Sells 774 Shares of Stock

CAVA Group, Inc. (NYSE:CAVA) CAO Adam David Phillips sold 774 shares of CAVA Group stock in a transaction that occurred on Tuesday, January 27th. The stock was sold at an average price of $62.14, for a total value of $48,096.36. Following the completion of the transaction, the chief accounting officer owned 10,435 shares of the company’s stock, valued at approximately $648,430.90. The trade was a 6.91% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink.

CAVA Group Price Performance

Shares of CAVA stock traded up $0.30 on Thursday, hitting $63.00. 2,829,528 shares of the stock traded hands, compared to its average volume of 3,729,937. The company has a market capitalization of $7.31 billion, a PE ratio of 54.31, a PEG 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. The company’s fifty day moving average is $59.13 and its 200 day moving average is $64.65.

CAVA Group (NYSE:CAVA) last posted its quarterly earnings results on Tuesday, November 4th. The company reported $0.12 EPS for the quarter, missing the consensus estimate of $0.13 by ($0.01). The business had revenue of $292.24 million during the quarter, compared to analyst estimates of $292.88 million. CAVA Group had a net margin of 12.14% and a return on equity of 8.88%. The company’s quarterly revenue was up 19.9% on a year-over-year basis. During the same period last year, the firm posted $0.15 earnings per share. As a group, equities research analysts expect that CAVA Group, Inc. will post 0.5 EPS for the current year.

Institutional Investors Weigh In On CAVA Group

Institutional investors and hedge funds have recently bought and sold shares of the business. Atlantic Union Bankshares Corp acquired a new position in shares of CAVA Group in the 2nd quarter worth approximately $31,000. Cornerstone Planning Group LLC lifted its stake in CAVA Group by 378.7% during the third quarter. Cornerstone Planning Group LLC now owns 450 shares of the company’s stock valued at $27,000 after purchasing an additional 356 shares during the last quarter. Fifth Third Bancorp bought a new stake in CAVA Group during the second quarter worth approximately $38,000. Whittier Trust Co. grew its position in CAVA Group by 60.9% in the second quarter. Whittier Trust Co. now owns 457 shares of the company’s stock worth $38,000 after buying an additional 173 shares during the last quarter. Finally, Toth Financial Advisory Corp increased its holdings in shares of CAVA Group by 656.7% in the third quarter. Toth Financial Advisory Corp now owns 507 shares of the company’s stock valued at $31,000 after buying an additional 440 shares in the last quarter. 73.15% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on CAVA shares. Argus cut their target price on CAVA Group from $76.00 to $60.00 and set a “buy” rating on the stock in a research note on Thursday, November 13th. KeyCorp cut their price objective on shares of CAVA Group from $85.00 to $65.00 and set an “overweight” rating on the stock in a research report on Wednesday, November 5th. The Goldman Sachs Group reissued a “neutral” rating and set a $68.00 target price on shares of CAVA Group in a research note on Wednesday, November 5th. Truist Financial raised their price target on shares of CAVA Group from $66.00 to $78.00 and gave the company a “buy” rating in a research note on Thursday, January 8th. Finally, Telsey Advisory Group began coverage on CAVA Group in a research report on Friday, January 9th. They set an “outperform” rating and a $85.00 price objective for the company. One analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and nine have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $81.57.

CAVA Group Company 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.