Theodoros Xenohristos Sells 9,044 Shares of CAVA Group (NYSE:CAVA) Stock

CAVA Group, Inc. (NYSE:CAVAGet Free Report) insider Theodoros Xenohristos sold 9,044 shares of the stock in a transaction that occurred on Monday, May 11th. The stock was sold at an average price of $79.75, for a total value of $721,259.00. Following the completion of the transaction, the insider directly owned 327,882 shares of the company’s stock, valued at approximately $26,148,589.50. The trade was a 2.68% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

CAVA Group Price Performance

CAVA Group stock opened at $72.24 on Thursday. The business has a 50 day simple moving average of $85.05 and a 200 day simple moving average of $68.84. The company has a market capitalization of $8.41 billion, a PE ratio of 133.78, a price-to-earnings-growth ratio of 5.47 and a beta of 1.90. CAVA Group, Inc. has a one year low of $43.41 and a one year high of $100.94.

CAVA Group (NYSE:CAVAGet Free Report) last announced its quarterly earnings results on Tuesday, February 24th. The company reported $0.04 earnings per share for the quarter, beating analysts’ consensus estimates of $0.03 by $0.01. The firm had revenue of $274.99 million for the quarter, compared to analysts’ expectations of $268.04 million. CAVA Group had a return on equity of 8.43% and a net margin of 5.40%.The business’s revenue was up 20.9% compared to the same quarter last year. During the same period in the prior year, the business posted $0.05 earnings per share. Equities analysts anticipate that CAVA Group, Inc. will post 0.52 earnings per share for the current fiscal year.

Institutional Investors Weigh In On CAVA Group

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Liontrust Investment Partners LLP acquired a new position in shares of CAVA Group in the 3rd quarter valued at $43,189,000. Leibman Financial Services Inc. grew its stake in shares of CAVA Group by 162.9% during the fourth quarter. Leibman Financial Services Inc. now owns 67,324 shares of the company’s stock worth $3,951,000 after purchasing an additional 41,712 shares during the period. Alliancebernstein L.P. increased its holdings in CAVA Group by 118.3% in the third quarter. Alliancebernstein L.P. now owns 2,953,688 shares of the company’s stock valued at $178,432,000 after purchasing an additional 1,600,630 shares during the last quarter. Envestnet Asset Management Inc. increased its holdings in CAVA Group by 57.7% in the third quarter. Envestnet Asset Management Inc. now owns 222,499 shares of the company’s stock valued at $13,441,000 after purchasing an additional 81,393 shares during the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. lifted its stake in CAVA Group by 20.4% in the third quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 103,706 shares of the company’s stock valued at $6,265,000 after buying an additional 17,600 shares during the period. Institutional investors and hedge funds own 73.15% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently issued reports on the stock. Telsey Advisory Group lifted their price target on shares of CAVA Group from $85.00 to $88.00 and gave the company an “outperform” rating in a report on Wednesday, February 25th. Benchmark upped their price objective on shares of CAVA Group from $80.00 to $110.00 and gave the stock a “buy” rating in a research note on Monday, April 20th. TD Cowen raised their price objective on shares of CAVA Group from $90.00 to $100.00 and gave the stock a “buy” rating in a report on Thursday, April 2nd. Mizuho lifted their target price on shares of CAVA Group from $72.00 to $80.00 and gave the company a “neutral” rating in a research note on Thursday, April 2nd. Finally, Argus reissued a “hold” rating on shares of CAVA Group in a report on Friday, February 27th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, eleven have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $90.07.

View Our Latest Stock Analysis on CAVA Group

About CAVA Group

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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.

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

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