Insider Selling: CAVA Group, Inc. (NYSE:CAVA) CEO Sells 20,564 Shares of Stock

CAVA Group, Inc. (NYSE:CAVA) CEO Brett Schulman sold 20,564 shares of CAVA Group stock in a transaction on Tuesday, January 21st. The shares were sold at an average price of $119.18, for a total value of $2,450,817.52. Following the completion of the transaction, the chief executive officer now owns 776,369 shares of the company’s stock, valued at approximately $92,527,657.42. This trade represents a 2.58 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link.

CAVA Group Stock Up 0.6 %

Shares of NYSE CAVA traded up $0.75 during midday trading on Thursday, reaching $124.14. The company had a trading volume of 2,205,434 shares, compared to its average volume of 2,118,121. CAVA Group, Inc. has a one year low of $44.80 and a one year high of $172.43. The firm’s fifty day moving average price is $126.66 and its 200-day moving average price is $118.09. The stock has a market cap of $14.22 billion, a PE ratio of 269.87 and a beta of 3.21.

CAVA Group (NYSE:CAVA) last released its earnings results on Tuesday, November 12th. The company reported $0.15 earnings per share for the quarter, beating analysts’ consensus estimates of $0.11 by $0.04. CAVA Group had a return on equity of 9.10% and a net margin of 5.88%. The company had revenue of $243.82 million during the quarter, compared to analyst estimates of $233.05 million. During the same quarter in the previous year, the company posted $0.06 EPS. CAVA Group’s revenue for the quarter was up 38.9% on a year-over-year basis. As a group, equities research analysts expect that CAVA Group, Inc. will post 0.5 EPS for the current year.

Institutional Investors Weigh In On CAVA Group

Hedge funds and other institutional investors have recently modified their holdings of the stock. FMR LLC lifted its holdings in CAVA Group by 0.9% in the 3rd quarter. FMR LLC now owns 3,485,033 shares of the company’s stock worth $431,621,000 after buying an additional 29,668 shares during the period. Two Sigma Advisers LP lifted its holdings in CAVA Group by 17.0% in the 3rd quarter. Two Sigma Advisers LP now owns 2,210,900 shares of the company’s stock worth $273,820,000 after buying an additional 321,800 shares during the period. Lord Abbett & CO. LLC lifted its holdings in CAVA Group by 1.5% in the 3rd quarter. Lord Abbett & CO. LLC now owns 1,358,250 shares of the company’s stock worth $168,219,000 after buying an additional 19,493 shares during the period. State Street Corp lifted its holdings in CAVA Group by 33.3% in the 3rd quarter. State Street Corp now owns 1,267,333 shares of the company’s stock worth $156,959,000 after buying an additional 316,514 shares during the period. Finally, Geode Capital Management LLC lifted its holdings in CAVA Group by 121.0% in the 3rd quarter. Geode Capital Management LLC now owns 1,222,834 shares of the company’s stock worth $151,492,000 after buying an additional 669,599 shares during the period. Institutional investors own 73.15% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the company. Citigroup lifted their price objective on CAVA Group from $140.00 to $163.00 and gave the company a “neutral” rating in a research note on Wednesday, November 13th. William Blair reissued an “outperform” rating on shares of CAVA Group in a research note on Wednesday, November 13th. Loop Capital lifted their price objective on CAVA Group from $122.00 to $147.00 and gave the company a “hold” rating in a research note on Thursday, November 14th. TD Cowen lifted their price objective on CAVA Group from $130.00 to $150.00 and gave the company a “buy” rating in a research note on Wednesday, November 13th. Finally, Wedbush lifted their price objective on CAVA Group from $155.00 to $190.00 and gave the company an “outperform” rating in a research note on Wednesday, November 13th. Eight equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $142.13.

CAVA Group Company Profile

CAVA Group, Inc owns and operates a chain of restaurants under the CAVA brand in the United States. The company also offers dips, spreads, and dressings through grocery stores. In addition, the company provides online and mobile ordering platforms. Cava Group, Inc was founded in 2006 and is headquartered in Washington, the District of Columbia.