CAVA Group (NYSE:CAVA) Insider Sells $1,124,100.00 in Stock

CAVA Group, Inc. (NYSE:CAVA) insider Kelly Costanza sold 12,490 shares of the firm’s stock in a transaction that occurred on Wednesday, June 17th. The shares were sold at an average price of $90.00, for a total value of $1,124,100.00. Following the completion of the transaction, the insider directly owned 98,490 shares in the company, valued at $8,864,100. The trade was a 11.25% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Kelly Costanza also recently made the following trade(s):

• On Monday, June 15th, Kelly Costanza sold 2,870 shares of CAVA Group stock. The shares were sold at an average price of $89.43, for a total value of $256,664.10.
• On Thursday, May 21st, Kelly Costanza sold 10,010 shares of CAVA Group stock. The shares were sold at an average price of $79.87, for a total transaction of $799,498.70.

CAVA Group Trading Down 0.0%

Shares of CAVA Group stock opened at $89.15 on Friday. The firm has a fifty day simple moving average of $84.16 and a 200-day simple moving average of $74.28. The stock has a market capitalization of $10.38 billion, a price-to-earnings ratio of 171.44, a PEG ratio of 6.11 and a beta of 1.70. CAVA Group, Inc. has a 1-year low of $43.41 and a 1-year high of $98.79.

CAVA Group (NYSE:CAVA) last posted its earnings results on Tuesday, May 19th. The company reported $0.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.17 by $0.03. The business had revenue of $438.27 million for the quarter, compared to analyst estimates of $360.89 million. CAVA Group had a net margin of 4.79% and a return on equity of 7.92%. CAVA Group’s revenue was up 32.1% compared to the same quarter last year. During the same period last year, the business posted $0.22 EPS. As a group, research analysts predict that CAVA Group, Inc. will post 0.55 earnings per share for the current year.

Analyst Ratings Changes

A number of research firms have recently commented on CAVA. JPMorgan Chase & Co. lifted their price objective on CAVA Group from $80.00 to $90.00 and gave the stock an “overweight” rating in a research note on Friday, April 24th. Morgan Stanley raised their target price on CAVA Group from $85.00 to $86.00 and gave the company an “equal weight” rating in a report on Wednesday, May 20th. Mizuho lifted their price target on CAVA Group from $72.00 to $80.00 and gave the stock a “neutral” rating in a research report on Thursday, April 2nd. Northcoast Research upgraded CAVA Group to a “strong sell” rating in a report on Tuesday, April 21st. Finally, Sanford C. Bernstein reissued an “outperform” rating and issued a $95.00 price objective on shares of CAVA Group in a research report on Wednesday, May 20th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $93.37.

Institutional Investors Weigh In On CAVA Group

Hedge funds have recently made changes to their positions in the stock. Capital International Investors increased its stake in CAVA Group by 105.4% during the third quarter. Capital International Investors now owns 4,228,736 shares of the company’s stock valued at $255,451,000 after acquiring an additional 2,169,553 shares during the period. William Blair Investment Management LLC acquired a new stake in shares of CAVA Group during the 3rd quarter worth approximately $114,098,000. Capital Research Global Investors grew its holdings in shares of CAVA Group by 27.2% during the 4th quarter. Capital Research Global Investors now owns 8,440,040 shares of the company’s stock worth $495,344,000 after purchasing an additional 1,805,174 shares in the last quarter. Alliancebernstein L.P. increased its position in shares of CAVA Group by 118.3% during the third quarter. Alliancebernstein L.P. now owns 2,953,688 shares of the company’s stock valued at $178,432,000 after purchasing an additional 1,600,630 shares during the period. Finally, Marshall Wace LLP lifted its position in CAVA Group by 689.8% in the fourth quarter. Marshall Wace LLP now owns 1,387,774 shares of the company’s stock worth $81,448,000 after purchasing an additional 1,212,068 shares during the period. Institutional investors own 73.15% of the company’s stock.

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.