Insider Selling: CAVA Group (NYSE:CAVA) Insider Sells 2,870 Shares of Stock

CAVA Group, Inc. (NYSE:CAVAGet Free Report) insider Kelly Costanza sold 2,870 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 $256,664.10. Following the completion of the transaction, the insider owned 110,980 shares in the company, valued at approximately $9,924,941.40. This represents a 2.52% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Kelly Costanza also recently made the following trade(s):

  • On Wednesday, June 17th, Kelly Costanza sold 12,490 shares of CAVA Group stock. The shares were sold at an average price of $90.00, for a total transaction of $1,124,100.00.
  • On Thursday, May 21st, Kelly Costanza sold 10,010 shares of CAVA Group stock. The shares were sold at an average price of $79.87, for a total transaction of $799,498.70.

CAVA Group Price Performance

NYSE CAVA traded up $0.79 during mid-day trading on Wednesday, reaching $88.09. The stock had a trading volume of 2,619,620 shares, compared to its average volume of 3,388,191. The stock has a market cap of $10.26 billion, a PE ratio of 169.41, a price-to-earnings-growth ratio of 6.14 and a beta of 1.70. CAVA Group, Inc. has a 1 year low of $43.41 and a 1 year high of $98.79. The company has a fifty day moving average price of $83.87 and a 200 day moving average price of $73.62.

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

Wall Street Analysts Forecast Growth

CAVA has been the subject of a number of recent analyst reports. Argus set a $92.00 target price on CAVA Group in a research report on Friday, May 22nd. JPMorgan Chase & Co. lifted their price target on shares of CAVA Group from $80.00 to $90.00 and gave the stock an “overweight” rating in a research note on Friday, April 24th. BNP Paribas Exane started coverage on shares of CAVA Group in a research report on Monday, March 30th. They set a “neutral” rating and a $91.00 price objective on the stock. UBS Group upgraded shares of CAVA Group from a “neutral” rating to a “buy” rating and raised their target price for the stock from $85.00 to $90.00 in a report on Wednesday, June 10th. Finally, Truist Financial lifted their target price on shares of CAVA Group from $80.00 to $85.00 and gave the stock a “buy” rating in a research report on Wednesday, February 25th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $93.37.

View Our Latest Analysis on CAVA

Institutional Investors Weigh In On CAVA Group

Several hedge funds and other institutional investors have recently made changes to their positions in CAVA. Los Angeles Capital Management LLC purchased a new position in shares of CAVA Group in the fourth quarter worth approximately $25,000. Harbor Investment Advisory LLC raised its position in CAVA Group by 347.8% in the fourth quarter. Harbor Investment Advisory LLC now owns 515 shares of the company’s stock worth $30,000 after acquiring an additional 400 shares during the period. TD Private Client Wealth LLC boosted its stake in shares of CAVA Group by 118.2% during the 4th quarter. TD Private Client Wealth LLC now owns 600 shares of the company’s stock worth $35,000 after acquiring an additional 325 shares during the last quarter. Strategic Investment Solutions Inc. IL purchased a new position in shares of CAVA Group during the 3rd quarter worth $36,000. Finally, Allworth Financial LP grew its position in shares of CAVA Group by 57.4% during the 4th quarter. Allworth Financial LP now owns 650 shares of the company’s stock valued at $38,000 after acquiring an additional 237 shares during the period. Hedge funds and other institutional investors own 73.15% of the company’s stock.

CAVA Group Company Profile

(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.

Further Reading

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

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