CAVA Group (NYSE:CAVA) Insider Sells $256,664.10 in Stock

CAVA Group, Inc. (NYSE:CAVA) insider Kelly Costanza sold 2,870 shares of the stock in a transaction on Monday, June 15th. The shares were sold at an average price of $89.43, for a total transaction of $256,664.10. Following the sale, the insider directly owned 110,980 shares of the company’s stock, valued at $9,924,941.40. The trade was a 2.52% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Kelly Costanza also recently made the following trade(s):

• On Wednesday, June 17th, Kelly Costanza sold 12,490 shares of CAVA Group stock. The shares were sold at an average price of $90.00, for a total transaction of $1,124,100.00.
• On Thursday, May 21st, Kelly Costanza sold 10,010 shares of CAVA Group stock. The shares were sold at an average price of $79.87, for a total transaction of $799,498.70.

CAVA Group Trading Down 0.0%

Shares of NYSE:CAVA opened at $89.15 on Friday. The company has a 50-day moving average price of $84.16 and a 200-day moving average price of $74.28. The company has a market cap of $10.38 billion, a price-to-earnings ratio of 171.44, a price-to-earnings-growth ratio of 6.11 and a beta of 1.70. CAVA Group, Inc. has a 12 month low of $43.41 and a 12 month high of $98.79.

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

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on CAVA shares. Mizuho boosted their target price on CAVA Group from $72.00 to $80.00 and gave the company a “neutral” rating in a research note on Thursday, April 2nd. Northcoast Research upgraded shares of CAVA Group to a “strong sell” rating in a report on Tuesday, April 21st. Robert W. Baird boosted their price objective on shares of CAVA Group from $88.00 to $98.00 and gave the company an “outperform” rating in a research report on Wednesday, May 20th. Weiss Ratings upgraded shares of CAVA Group from a “hold (c-)” rating to a “hold (c)” rating in a report on Wednesday, May 20th. Finally, The Goldman Sachs Group upped their price objective on shares of CAVA Group from $75.00 to $86.00 and gave the stock a “neutral” rating in a report on Monday, April 13th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, CAVA Group has a consensus rating of “Moderate Buy” and a consensus target price of $93.37.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in CAVA. Los Angeles Capital Management LLC purchased a new position in shares of CAVA Group in the 4th quarter valued at approximately $25,000. Harbor Investment Advisory LLC grew its stake in CAVA Group by 347.8% in the fourth quarter. Harbor Investment Advisory LLC now owns 515 shares of the company’s stock worth $30,000 after purchasing an additional 400 shares during the period. Strategic Investment Solutions Inc. IL bought a new position in CAVA Group in the third quarter worth $36,000. TD Private Client Wealth LLC raised its holdings in CAVA Group by 118.2% in 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 in the last quarter. Finally, EverSource Wealth Advisors LLC lifted its position in CAVA Group by 115.7% during the fourth quarter. EverSource Wealth Advisors LLC now owns 647 shares of the company’s stock valued at $38,000 after buying an additional 347 shares during the period. 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.