CAVA Group (NYSE:CAVA) CEO Brett Schulman Sells 33,174 Shares of Stock

CAVA Group, Inc. (NYSE:CAVA) CEO Brett Schulman sold 33,174 shares of CAVA Group stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $89.43, for a total transaction of $2,966,750.82. Following the completion of the transaction, the chief executive officer owned 798,669 shares of the company’s stock, valued at $71,424,968.67. This represents a 3.99% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

CAVA Group Stock Up 0.9%

Shares of CAVA Group stock opened at $88.09 on Thursday. CAVA Group, Inc. has a 52-week low of $43.41 and a 52-week high of $98.79. The company has a 50 day moving average of $83.99 and a 200 day moving average of $73.89. The company has a market capitalization of $10.26 billion, a P/E ratio of 169.41, a P/E/G ratio of 5.98 and a beta of 1.70.

CAVA Group (NYSE:CAVA) last issued its quarterly earnings results on Tuesday, May 19th. The company reported $0.20 earnings per share (EPS) for the quarter, topping 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 company had revenue of $438.27 million during the quarter, compared to the consensus estimate of $360.89 million. During the same quarter in the previous year, the firm earned $0.22 earnings per share. The firm’s quarterly revenue was up 32.1% on a year-over-year basis. As a group, research analysts anticipate that CAVA Group, Inc. will post 0.55 earnings per share for the current fiscal year.

Institutional Investors Weigh In On CAVA Group

Several institutional investors and hedge funds have recently made changes to their positions in CAVA. Bison Wealth LLC purchased a new stake in shares of CAVA Group in the 4th quarter worth about $208,000. Goldman Sachs Group Inc. boosted its position in shares of CAVA Group by 14.3% in the 1st quarter. Goldman Sachs Group Inc. now owns 606,780 shares of the company’s stock worth $52,432,000 after buying an additional 75,828 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in shares of CAVA Group by 17.3% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 236,622 shares of the company’s stock worth $20,447,000 after buying an additional 34,860 shares in the last quarter. Brown Advisory Inc. boosted its position in shares of CAVA Group by 9.3% in the 2nd quarter. Brown Advisory Inc. now owns 2,979 shares of the company’s stock worth $251,000 after buying an additional 253 shares in the last quarter. Finally, Cresset Asset Management LLC boosted its position in shares of CAVA Group by 20.3% in the 2nd quarter. Cresset Asset Management LLC now owns 9,165 shares of the company’s stock worth $772,000 after buying an additional 1,549 shares in the last quarter. 73.15% of the stock is currently owned by hedge funds and other institutional investors.

CAVA Group News Roundup

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 recommending it as a buy, which may support investor confidence. Article: Jim Cramer Calls CAVA ‘Tasty, Clean, Fun,’ Says Make This Biotech ‘Your Speculation’
• Neutral Sentiment: A separate article questioned whether CAVA’s expansion plan can sustain its momentum, but it did not report a new financial development or company-specific setback. Article: Can CAVA’s Expansion Plan Sustain Its Momentum?
• Negative Sentiment: Insiders sold shares at prices around $89.43 to $90.00, including CEO Brett Schulman and CFO Tricia K. Tolivar, adding to a broader wave of selling that may weigh on the stock despite being tied to equity award tax obligations.

Wall Street Analyst Weigh In

CAVA has been the topic of a number of recent analyst reports. Benchmark upped their price target on shares of CAVA Group from $80.00 to $110.00 and gave the stock a “buy” rating in a research note on Monday, April 20th. Sanford C. Bernstein reaffirmed an “outperform” rating and set a $95.00 price target on shares of CAVA Group in a research note on Wednesday, May 20th. Mizuho upped their price target on shares of CAVA Group from $72.00 to $80.00 and gave the stock a “neutral” rating in a research note on Thursday, April 2nd. Northcoast Research raised shares of CAVA Group to a “strong sell” rating in a research note on Tuesday, April 21st. Finally, Argus set a $92.00 price target on shares of CAVA Group in a research note on Friday, May 22nd. One research analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target 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.