CAVA Group (NYSE:CAVA) Insider Sells $61,767.16 in Stock

CAVA Group, Inc. (NYSE:CAVA) insider Kenneth Robert Bertram sold 994 shares of the firm’s stock in a transaction dated Tuesday, January 27th. The stock was sold at an average price of $62.14, for a total value of $61,767.16. Following the completion of the sale, the insider directly owned 49,122 shares in the company, valued at $3,052,441.08. The trade was a 1.98% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

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

• On Wednesday, January 21st, Kenneth Robert Bertram sold 1,074 shares of CAVA Group stock. The shares were sold at an average price of $67.41, for a total transaction of $72,398.34.
• 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 traded up $0.30 on Thursday, reaching $63.00. The stock had a trading volume of 2,829,528 shares, compared to its average volume of 3,729,937. CAVA Group, Inc. has a 12-month low of $43.41 and a 12-month high of $144.49. The firm has a market capitalization of $7.31 billion, a price-to-earnings ratio of 54.31, a price-to-earnings-growth ratio of 4.46 and a beta of 2.41. The company has a 50-day simple moving average of $59.13 and a 200-day simple moving average of $64.65.

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

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the company. Capital International Investors lifted its holdings in shares of CAVA Group by 105.4% during the third quarter. Capital International Investors now owns 4,228,736 shares of the company’s stock worth $255,451,000 after purchasing an additional 2,169,553 shares during the period. William Blair Investment Management LLC purchased a new position in CAVA Group during the 3rd quarter worth approximately $114,098,000. Alliancebernstein L.P. lifted 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 valued at $178,432,000 after acquiring an additional 1,600,630 shares during the period. Capital Research Global Investors boosted its holdings in shares of CAVA Group by 28.5% in the 3rd quarter. Capital Research Global Investors now owns 6,634,866 shares of the company’s stock valued at $400,801,000 after acquiring an additional 1,469,758 shares during the last quarter. Finally, Champlain Investment Partners LLC increased its stake in shares of CAVA Group by 58.8% in the third quarter. Champlain Investment Partners LLC now owns 2,146,502 shares of the company’s stock worth $129,670,000 after acquiring an additional 794,547 shares during the period. 73.15% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on CAVA shares. Barclays raised their price target on CAVA Group from $52.00 to $70.00 and gave the stock an “equal weight” rating in a research report on Wednesday, January 7th. Argus cut their price objective on CAVA Group from $76.00 to $60.00 and set a “buy” rating on the stock in a research report on Thursday, November 13th. Royal Bank Of Canada set a $70.00 target price on CAVA Group in a research report on Wednesday, November 5th. KeyCorp lowered their target price 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. Finally, UBS Group raised their price target on shares of CAVA Group from $58.00 to $66.00 and gave the stock a “neutral” rating in a research note on Tuesday, January 6th. One analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and nine have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, CAVA Group currently has a consensus rating of “Moderate Buy” and an average target price of $81.57.

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.