CAVA Group (NYSE:CAVA) Insider Sells $721,259.00 in Stock

CAVA Group, Inc. (NYSE:CAVA) insider Theodoros Xenohristos sold 9,044 shares of the firm’s stock in a transaction dated Monday, May 11th. The shares were sold at an average price of $79.75, for a total transaction of $721,259.00. Following the transaction, the insider directly owned 327,882 shares in the company, valued at $26,148,589.50. The trade was a 2.68% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

CAVA Group Trading Down 3.5%

Shares of CAVA traded down $2.80 during trading hours on Tuesday, reaching $77.20. 3,556,960 shares of the stock traded hands, compared to its average volume of 3,363,964. The stock has a fifty day simple moving average of $85.28 and a 200 day simple moving average of $68.69. CAVA Group, Inc. has a 52 week low of $43.41 and a 52 week high of $101.50. The company has a market cap of $8.99 billion, a price-to-earnings ratio of 142.96, a PEG ratio of 5.62 and a beta of 1.90.

CAVA Group (NYSE:CAVA) last announced its quarterly earnings data on Tuesday, February 24th. The company reported $0.04 EPS for the quarter, topping the consensus estimate of $0.03 by $0.01. The business had revenue of $274.99 million for the quarter, compared to analyst estimates of $268.04 million. CAVA Group had a net margin of 5.40% and a return on equity of 8.43%. The company’s revenue for the quarter was up 20.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.05 earnings per share. Analysts predict that CAVA Group, Inc. will post 0.52 earnings per share for the current fiscal year.

Institutional Investors Weigh In On CAVA Group

Institutional investors have recently made changes to their positions in the business. Liontrust Investment Partners LLP bought a new stake in CAVA Group during the 3rd quarter valued at $43,189,000. Leibman Financial Services Inc. raised its holdings in CAVA Group by 162.9% during the 4th quarter. Leibman Financial Services Inc. now owns 67,324 shares of the company’s stock valued at $3,951,000 after buying an additional 41,712 shares during the last quarter. Alliancebernstein L.P. raised its holdings in CAVA Group by 118.3% during the 3rd quarter. Alliancebernstein L.P. now owns 2,953,688 shares of the company’s stock valued at $178,432,000 after buying an additional 1,600,630 shares during the last quarter. Envestnet Asset Management Inc. raised its holdings in CAVA Group by 57.7% during the 3rd quarter. Envestnet Asset Management Inc. now owns 222,499 shares of the company’s stock valued at $13,441,000 after buying an additional 81,393 shares during the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. raised its holdings in CAVA Group by 20.4% during the 3rd 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 last quarter. Hedge funds and other institutional investors own 73.15% of the company’s stock.

Wall Street Analysts Forecast Growth

CAVA has been the subject of several recent analyst reports. Morgan Stanley boosted their price objective on shares of CAVA Group from $83.00 to $85.00 and gave the company an “equal weight” rating in a research note on Tuesday, April 21st. Royal Bank Of Canada boosted their price objective on shares of CAVA Group from $90.00 to $100.00 and gave the company an “outperform” rating in a research note on Friday, May 1st. Truist Financial boosted their price objective on shares of CAVA Group from $80.00 to $85.00 and gave the company a “buy” rating in a research note on Wednesday, February 25th. Guggenheim initiated coverage on shares of CAVA Group in a research note on Thursday, March 26th. They set a “buy” rating and a $100.00 price objective for the company. Finally, Roth Mkm initiated coverage on shares of CAVA Group in a research note on Tuesday, April 21st. They set a “buy” rating and a $106.00 price objective for the company. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating, eleven have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $90.07.

CAVA Group Company Profile

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.