CAVA Group, Inc. (NYSE:CAVA – Get 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:CAVA – Get 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
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
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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