CAVA Group (NYSE:CAVA) Insider Sells $72,398.34 in Stock

CAVA Group, Inc. (NYSE:CAVA) insider Kenneth Robert Bertram sold 1,074 shares of the business’s stock in a transaction dated Wednesday, January 21st. The shares were sold at an average price of $67.41, for a total transaction of $72,398.34. Following the transaction, the insider owned 50,116 shares in the company, valued at $3,378,319.56. This represents a 2.10% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Kenneth Robert Bertram also recently made the following trade(s):

• On Wednesday, November 26th, Kenneth Robert Bertram sold 3,788 shares of CAVA Group stock. The shares were sold at an average price of $50.70, for a total transaction of $192,051.60.

CAVA Group Stock Performance

Shares of CAVA Group stock traded up $0.26 during midday trading on Friday, hitting $66.35. The company had a trading volume of 2,762,397 shares, compared to its average volume of 3,899,031. CAVA Group, Inc. has a 52-week low of $43.41 and a 52-week high of $144.49. The company has a 50 day moving average of $57.71 and a 200 day moving average of $65.53. The stock has a market capitalization of $7.70 billion, a P/E ratio of 57.20, a P/E/G ratio of 3.44 and a beta of 2.41.

CAVA Group (NYSE:CAVA) last issued its earnings results on Tuesday, November 4th. The company reported $0.12 EPS for the quarter, missing the consensus estimate of $0.13 by ($0.01). CAVA Group had a net margin of 12.14% and a return on equity of 8.88%. The business had revenue of $292.24 million for the quarter, compared to analysts’ expectations of $292.88 million. During the same quarter in the prior year, the business posted $0.15 earnings per share. The business’s revenue for the quarter was up 19.9% on a year-over-year basis. Equities research analysts forecast that CAVA Group, Inc. will post 0.5 EPS for the current year.

Analyst Ratings Changes

CAVA has been the subject of a number of recent analyst reports. Stifel Nicolaus set a $75.00 price objective on CAVA Group in a research note on Wednesday, November 5th. Truist Financial boosted their price objective on CAVA Group from $66.00 to $78.00 and gave the stock a “buy” rating in a research note on Thursday, January 8th. TD Cowen reaffirmed a “buy” rating on shares of CAVA Group in a research note on Monday, January 5th. The Goldman Sachs Group reiterated a “neutral” rating and issued a $68.00 target price on shares of CAVA Group in a research note on Wednesday, November 5th. Finally, KeyCorp decreased their price target on shares of CAVA Group from $85.00 to $65.00 and set an “overweight” rating for the company in a research note on Wednesday, November 5th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and nine have assigned a Hold rating to the stock. Based on data from MarketBeat.com, CAVA Group presently has an average rating of “Moderate Buy” and a consensus price target of $81.57.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Maryland State Retirement & Pension System raised its holdings in CAVA Group by 37.5% in the second quarter. Maryland State Retirement & Pension System now owns 4,850 shares of the company’s stock worth $409,000 after purchasing an additional 1,324 shares in the last quarter. Global Retirement Partners LLC purchased a new stake in CAVA Group during the second quarter valued at approximately $463,000. Y Intercept Hong Kong Ltd lifted its position in CAVA Group by 271.7% during the second quarter. Y Intercept Hong Kong Ltd now owns 23,659 shares of the company’s stock valued at $1,993,000 after acquiring an additional 17,294 shares during the last quarter. Hantz Financial Services Inc. boosted its stake in CAVA Group by 1,846,775.0% in the second quarter. Hantz Financial Services Inc. now owns 73,875 shares of the company’s stock valued at $6,222,000 after acquiring an additional 73,871 shares in the last quarter. Finally, Valeo Financial Advisors LLC purchased a new position in CAVA Group in the second quarter worth $57,824,000. 73.15% of the stock is owned by institutional investors.

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.