CAVA Group, Inc. (NYSE:CAVA – Get Free Report) insider Douglas Thompson purchased 6,500 shares of the company’s stock in a transaction dated Monday, August 31st. The stock was purchased at an average price of $66.52 per share, with a total value of $432,380.00. Following the transaction, the insider owned 19,371 shares of the company’s stock, valued at approximately $1,288,558.92. This represents a 50.50% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.
CAVA Group Stock Down 1.7%
CAVA Group stock opened at $60.63 on Friday. CAVA Group, Inc. has a 52 week low of $43.41 and a 52 week high of $98.79. The firm’s 50-day simple moving average is $68.04 and its 200 day simple moving average is $77.15. The firm has a market capitalization of $7.08 billion, a PE ratio of 110.24, a P/E/G ratio of 4.84 and a beta of 1.74.
CAVA Group (NYSE:CAVA – Get Free Report) last posted its earnings results on Tuesday, August 11th. The company reported $0.19 earnings per share for the quarter, beating the consensus estimate of $0.18 by $0.01. The firm had revenue of $368.44 million during the quarter, compared to the consensus estimate of $360.09 million. CAVA Group had a net margin of 4.82% and a return on equity of 8.28%. The firm’s revenue for the quarter was up 31.3% on a year-over-year basis. During the same period last year, the firm posted $0.16 EPS. On average, research analysts expect that CAVA Group, Inc. will post 0.54 EPS for the current fiscal year.
Wall Street Analyst Weigh In
Read Our Latest Research Report on CAVA Group
Institutional Trading of CAVA Group
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Los Angeles Capital Management LLC purchased a new position in shares of CAVA Group during the 4th quarter worth about $25,000. Ancora Advisors LLC purchased a new stake in CAVA Group in the second quarter valued at approximately $27,000. FNY Investment Advisers LLC purchased a new stake in CAVA Group in the second quarter valued at approximately $31,000. Philadelphia Investment Partners LLC acquired a new position in CAVA Group during the second quarter worth approximately $33,000. Finally, TD Private Client Wealth LLC increased its position in CAVA Group by 118.2% during the fourth quarter. TD Private Client Wealth LLC now owns 600 shares of the company’s stock worth $35,000 after purchasing an additional 325 shares during the last quarter. Hedge funds and other institutional investors own 73.15% of the company’s stock.
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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