CAVA Group (NYSE:CAVA) CAO Adam David Phillips Sells 757 Shares

CAVA Group, Inc. (NYSE:CAVA) CAO Adam David Phillips sold 757 shares of the stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $89.43, for a total value of $67,698.51. Following the transaction, the chief accounting officer owned 6,848 shares of the company’s stock, valued at approximately $612,416.64. This trade represents a 9.95% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Adam David Phillips also recently made the following trade(s):

• On Thursday, May 21st, Adam David Phillips sold 5,181 shares of CAVA Group stock. The stock was sold at an average price of $77.14, for a total value of $399,662.34.

CAVA Group Stock Performance

CAVA Group stock traded up $0.79 during mid-day trading on Wednesday, reaching $88.09. The company’s stock had a trading volume of 2,619,622 shares, compared to its average volume of 3,388,191. The company has a market capitalization of $10.26 billion, a price-to-earnings ratio of 169.41, a price-to-earnings-growth ratio of 6.14 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. The business’s 50 day simple moving average is $83.87 and its 200 day simple moving average is $73.62.

CAVA Group (NYSE:CAVA) last released its earnings results on Tuesday, May 19th. The company reported $0.20 earnings per share 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 during the quarter, compared to the consensus estimate of $360.89 million. During the same quarter last year, the firm earned $0.22 earnings per share. The firm’s revenue for the quarter was up 32.1% compared to the same quarter last year. As a group, sell-side analysts expect that CAVA Group, Inc. will post 0.55 EPS for the current year.

More CAVA Group News

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 describing the brand as “Tasty, Clean, Fun,” which may have helped sentiment around the stock. Article Title
• Neutral Sentiment: Recent articles discussing CAVA’s expansion plan and business model highlight the company’s growth narrative, but do not appear to include a new catalyst that would materially change the outlook today. Article Title
• Negative Sentiment: Several insiders sold shares this week, including CEO Brett Schulman, CFO Tricia K. Tolivar, and other executives/directors, which can weigh on investor sentiment even though the filings say the sales were mainly for tax withholding tied to vested equity awards.
• Negative Sentiment: The largest disclosed sale came from CEO Brett Schulman, who sold 33,174 shares, and additional sales from CFO Tricia K. Tolivar, CAO Adam David Phillips, Theodoros Xenohristos, and Kelly Costanza may raise concerns about how much near-term upside management sees in the stock.

Analyst Ratings Changes

A number of research analysts have recently commented on the stock. The Goldman Sachs Group lifted their price objective on shares of CAVA Group from $75.00 to $86.00 and gave the company a “neutral” rating in a research report on Monday, April 13th. JPMorgan Chase & Co. lifted their price objective on shares of CAVA Group from $80.00 to $90.00 and gave the company an “overweight” rating in a research report on Friday, April 24th. Northcoast Research raised shares of CAVA Group to a “strong sell” rating in a research report on Tuesday, April 21st. Telsey Advisory Group lifted their price objective on shares of CAVA Group from $92.00 to $95.00 and gave the company an “outperform” rating in a research report on Wednesday, May 20th. Finally, Guggenheim started coverage on shares of CAVA Group in a report on Thursday, March 26th. They set a “buy” rating and a $100.00 target price for the company. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, nine have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, CAVA Group currently has a consensus rating of “Moderate Buy” and an average price target of $93.37.

Institutional Trading of CAVA Group

A number of institutional investors have recently bought and sold shares of the business. DMC Group LLC boosted its holdings in CAVA Group by 3.7% in the 4th quarter. DMC Group LLC now owns 4,426 shares of the company’s stock valued at $260,000 after purchasing an additional 157 shares during the period. Modern Wealth Management LLC boosted its holdings in CAVA Group by 4.2% in the 1st quarter. Modern Wealth Management LLC now owns 3,907 shares of the company’s stock valued at $313,000 after purchasing an additional 158 shares during the period. Bridgewater Associates LP boosted its holdings in CAVA Group by 2.4% in the 4th quarter. Bridgewater Associates LP now owns 6,827 shares of the company’s stock valued at $401,000 after purchasing an additional 163 shares during the period. Western Pacific Wealth Management LP boosted its holdings in CAVA Group by 32.5% in the 4th quarter. Western Pacific Wealth Management LP now owns 729 shares of the company’s stock valued at $43,000 after purchasing an additional 179 shares during the period. Finally, Allworth Financial LP boosted its holdings in CAVA Group by 57.4% in the 4th quarter. Allworth Financial LP now owns 650 shares of the company’s stock valued at $38,000 after purchasing an additional 237 shares during the period. Institutional investors own 73.15% of the company’s stock.

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.