Insider Selling: CAVA Group (NYSE:CAVA) CFO Sells 4,969 Shares of Stock

CAVA Group, Inc. (NYSE:CAVAGet Free Report) CFO Tricia Tolivar sold 4,969 shares of the company’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 $444,377.67. Following the sale, the chief financial officer directly owned 234,931 shares in the company, valued at approximately $21,009,879.33. The trade was a 2.07% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

CAVA Group Trading Up 0.9%

CAVA traded up $0.79 during trading hours on Wednesday, hitting $88.09. 2,619,620 shares of the company’s stock were exchanged, compared to its average volume of 3,388,191. CAVA Group, Inc. has a 12-month low of $43.41 and a 12-month high of $98.79. The firm has a 50 day moving average of $83.87 and a 200 day moving average of $73.62. The firm has a market cap of $10.26 billion, a P/E ratio of 169.41, a price-to-earnings-growth ratio of 6.14 and a beta of 1.70.

CAVA Group (NYSE:CAVAGet Free Report) last announced its earnings results on Tuesday, May 19th. The company reported $0.20 earnings per share for the quarter, topping the consensus estimate of $0.17 by $0.03. CAVA Group had a net margin of 4.79% and a return on equity of 7.92%. The firm had revenue of $438.27 million for the quarter, compared to the consensus estimate of $360.89 million. During the same period in the prior year, the firm earned $0.22 EPS. The firm’s revenue for the quarter was up 32.1% on a year-over-year basis. As a group, research analysts expect that CAVA Group, Inc. will post 0.55 EPS for the current fiscal year.

Hedge Funds Weigh In On CAVA Group

Several hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its holdings in CAVA Group by 3.5% during the third quarter. Vanguard Group Inc. now owns 9,345,976 shares of the company’s stock worth $564,590,000 after purchasing an additional 313,938 shares in the last quarter. Capital Research Global Investors boosted its holdings in shares of CAVA Group by 27.2% in the 4th quarter. Capital Research Global Investors now owns 8,440,040 shares of the company’s stock valued at $495,344,000 after buying an additional 1,805,174 shares in the last quarter. Capital International Investors grew its position in shares of CAVA Group by 15.5% in the 4th quarter. Capital International Investors now owns 4,885,317 shares of the company’s stock valued at $286,718,000 after buying an additional 656,581 shares during the last quarter. Morgan Stanley raised its stake in CAVA Group by 33.7% during the 4th quarter. Morgan Stanley now owns 3,318,894 shares of the company’s stock worth $194,786,000 after acquiring an additional 835,628 shares in the last quarter. Finally, Alliancebernstein L.P. raised its stake in CAVA Group by 118.3% during the 3rd quarter. Alliancebernstein L.P. now owns 2,953,688 shares of the company’s stock worth $178,432,000 after acquiring an additional 1,600,630 shares in the last quarter. 73.15% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on CAVA shares. Piper Sandler upped their target price on shares of CAVA Group from $85.00 to $92.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 20th. Sanford C. Bernstein reissued an “outperform” rating and issued a $95.00 price objective on shares of CAVA Group in a research report on Wednesday, May 20th. UBS Group upgraded shares of CAVA Group from a “neutral” rating to a “buy” rating and raised their price objective for the company from $85.00 to $90.00 in a report on Wednesday, June 10th. Guggenheim assumed coverage on shares of CAVA Group in a research report on Thursday, March 26th. They set a “buy” rating and a $100.00 price objective for the company. Finally, KeyCorp boosted their target price on shares of CAVA Group from $95.00 to $105.00 and gave the stock an “overweight” rating in a research note on Monday, April 20th. One research analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, CAVA Group presently has a consensus rating of “Moderate Buy” and an average price target of $93.37.

Check Out Our Latest Report on CAVA Group

About CAVA Group

(Get Free Report)

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.

See Also

Insider Buying and Selling by Quarter for CAVA Group (NYSE:CAVA)

Receive News & Ratings for CAVA Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for CAVA Group and related companies with MarketBeat.com's FREE daily email newsletter.