Brett Schulman Sells 33,174 Shares of CAVA Group (NYSE:CAVA) Stock

CAVA Group, Inc. (NYSE:CAVA) CEO Brett Schulman sold 33,174 shares of the company’s stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $89.43, for a total transaction of $2,966,750.82. Following the completion of the transaction, the chief executive officer directly owned 798,669 shares in the company, valued at $71,424,968.67. The trade was a 3.99% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

CAVA Group Price Performance

Shares of CAVA stock opened at $89.15 on Friday. CAVA Group, Inc. has a 1-year low of $43.41 and a 1-year high of $98.79. The firm has a market cap of $10.38 billion, a PE ratio of 171.44, a price-to-earnings-growth ratio of 6.04 and a beta of 1.70. The company has a 50-day moving average of $84.11 and a two-hundred day moving average of $74.17.

CAVA Group (NYSE:CAVA) last released its quarterly earnings results on Tuesday, May 19th. The company reported $0.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.17 by $0.03. CAVA Group had a net margin of 4.79% and a return on equity of 7.92%. The business had revenue of $438.27 million for the quarter, compared to the consensus estimate of $360.89 million. During the same period in the previous year, the firm earned $0.22 EPS. The business’s revenue was up 32.1% on a year-over-year basis. Sell-side analysts anticipate that CAVA Group, Inc. will post 0.55 EPS for the current fiscal year.

Hedge Funds Weigh In On CAVA Group

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its stake in shares of CAVA Group by 3.5% in the third quarter. Vanguard Group Inc. now owns 9,345,976 shares of the company’s stock worth $564,590,000 after acquiring an additional 313,938 shares in the last quarter. Capital Research Global Investors raised its stake in shares of CAVA Group by 27.2% in the fourth quarter. Capital Research Global Investors now owns 8,440,040 shares of the company’s stock valued at $495,344,000 after acquiring an additional 1,805,174 shares in the last quarter. Capital International Investors boosted its holdings in CAVA Group by 15.5% in the fourth quarter. Capital International Investors now owns 4,885,317 shares of the company’s stock valued at $286,718,000 after purchasing an additional 656,581 shares during the period. Morgan Stanley boosted its holdings in CAVA Group by 33.7% in the fourth quarter. Morgan Stanley now owns 3,318,894 shares of the company’s stock valued at $194,786,000 after purchasing an additional 835,628 shares during the period. Finally, Alliancebernstein L.P. grew its stake in CAVA Group by 118.3% during the 3rd quarter. Alliancebernstein L.P. now owns 2,953,688 shares of the company’s stock worth $178,432,000 after purchasing an additional 1,600,630 shares in the last quarter. Hedge funds and other institutional investors own 73.15% of the company’s stock.

Analyst Ratings Changes

A number of analysts have issued reports on CAVA shares. Benchmark boosted their target price on CAVA Group from $80.00 to $110.00 and gave the company a “buy” rating in a research report on Monday, April 20th. Sanford C. Bernstein reaffirmed an “outperform” rating and issued a $95.00 price objective on shares of CAVA Group in a research note on Wednesday, May 20th. Wolfe Research began coverage on CAVA Group in a report on Monday, March 9th. They issued an “outperform” rating and a $93.00 price objective on the stock. JPMorgan Chase & Co. increased their target price on CAVA Group from $80.00 to $90.00 and gave the stock an “overweight” rating in a research note on Friday, April 24th. Finally, TD Cowen reissued a “buy” rating and set a $100.00 target price on shares of CAVA Group in a research note on Thursday, June 4th. One research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $93.37.

Key Stories Impacting CAVA Group

Here are the key news stories impacting CAVA Group this week:

• Positive Sentiment: Jim Cramer reiterated a bullish view on CAVA, calling it “the best of the new concepts” and recommending it as a buy, which may be boosting investor sentiment. Article: Jim Cramer Calls CAVA ‘Tasty, Clean, Fun,’ Says Make This Biotech ‘Your Speculation’
• Positive Sentiment: The company’s latest earnings beat continues to support the stock, with CAVA posting $0.20 EPS versus $0.17 expected and revenue of $438.27 million versus $360.89 million expected. Article: Cava (CAVA) Up 9.3% Since Last Earnings Report: Can It Continue?
• Neutral Sentiment: Analysts remain generally constructive, with a “Moderate Buy” consensus and an average price target above the current share price, reinforcing the longer-term growth narrative. Article: 2 Restaurant Stocks, 2 Earnings Beats, 2 Very Different Setups
• Negative Sentiment: Several insiders, including CEO Brett Schulman, CFO Tricia K. Tolivar, CAO Adam David Phillips, and executive Theodoros Xenohristos, sold shares near recent highs. The sales were tied to tax withholding on equity awards, but the broad insider selling could weigh on sentiment. Article: Insider Selling: CAVA Group (NYSE:CAVA) CEO Sells 33,174 Shares of 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.