CAVA Group (NYSE:CAVA) Director Karen Kochevar Sells 10,000 Shares

CAVA Group, Inc. (NYSE:CAVA) Director Karen Kochevar sold 10,000 shares of the business’s stock in a transaction on Thursday, June 18th. The stock was sold at an average price of $90.00, for a total value of $900,000.00. Following the transaction, the director owned 3,074 shares in the company, valued at approximately $276,660. This trade represents a 76.49% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

CAVA Group Stock Performance

Shares of NYSE CAVA opened at $77.75 on Wednesday. CAVA Group, Inc. has a fifty-two week low of $43.41 and a fifty-two week high of $98.79. The company has a market cap of $9.06 billion, a PE ratio of 149.52, a P/E/G ratio of 5.54 and a beta of 1.70. The business has a 50-day simple moving average of $83.92 and a two-hundred day simple moving average of $74.81.

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

Hedge Funds Weigh In On CAVA Group

A number of large investors have recently added to or reduced their stakes in CAVA. NewEdge Advisors LLC grew its position in shares of CAVA Group by 6.7% in the first quarter. NewEdge Advisors LLC now owns 12,394 shares of the company’s stock valued at $1,003,000 after purchasing an additional 782 shares during the period. Amundi raised its position in shares of CAVA Group by 578.4% during the 1st quarter. Amundi now owns 290,281 shares of the company’s stock worth $23,484,000 after purchasing an additional 247,489 shares during the last quarter. EverSource Wealth Advisors LLC raised its position in shares of CAVA Group by 60.7% during the 1st quarter. EverSource Wealth Advisors LLC now owns 1,040 shares of the company’s stock worth $84,000 after purchasing an additional 393 shares during the last quarter. California State Teachers Retirement System lifted its stake in CAVA Group by 25.2% in the 1st quarter. California State Teachers Retirement System now owns 110,842 shares of the company’s stock valued at $8,967,000 after buying an additional 22,322 shares in the last quarter. Finally, Quantinno Capital Management LP lifted its stake in CAVA Group by 123.0% in the 1st quarter. Quantinno Capital Management LP now owns 76,126 shares of the company’s stock valued at $6,159,000 after buying an additional 41,986 shares in the last quarter. 73.15% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on CAVA. DA Davidson upped their target price on CAVA Group from $80.00 to $84.00 and gave the company a “neutral” rating in a research report on Thursday, May 21st. Barclays increased their price objective on shares of CAVA Group from $70.00 to $74.00 and gave the stock an “equal weight” rating in a research note on Wednesday, May 20th. Piper Sandler boosted their target price on shares of CAVA Group from $85.00 to $92.00 and gave the company an “overweight” rating in a research report on Wednesday, May 20th. The Goldman Sachs Group increased their price target on CAVA Group from $75.00 to $86.00 and gave the stock a “neutral” rating in a research report on Monday, April 13th. Finally, TD Cowen reaffirmed a “buy” rating and set a $100.00 target price on shares of CAVA Group in a report on Thursday, June 4th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $93.37.

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.