CAVA Group, Inc. (NYSE:CAVA) CFO Sells $562,002.03 in Stock

CAVA Group, Inc. (NYSE:CAVA) CFO Tricia K. Tolivar sold 5,949 shares of the stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $94.47, for a total transaction of $562,002.03. Following the completion of the transaction, the chief financial officer now directly owns 297,600 shares of the company’s stock, valued at $28,114,272. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

CAVA Group Trading Up 0.3 %

NYSE:CAVA traded up $0.33 during mid-day trading on Wednesday, hitting $94.92. The stock had a trading volume of 1,193,298 shares, compared to its average volume of 2,610,840. The stock has a 50-day simple moving average of $83.10 and a two-hundred day simple moving average of $64.35. The company has a market capitalization of $10.82 billion and a PE ratio of 231.52. CAVA Group, Inc. has a twelve month low of $29.05 and a twelve month high of $97.64.

CAVA Group (NYSE:CAVA) last announced its earnings results on Tuesday, May 28th. The company reported $0.12 EPS for the quarter, beating analysts’ consensus estimates of $0.04 by $0.08. CAVA Group had a net margin of 3.75% and a return on equity of 5.18%. The business had revenue of $259.01 million for the quarter, compared to analysts’ expectations of $246.02 million. The firm’s revenue was up 27.5% compared to the same quarter last year. Sell-side analysts predict that CAVA Group, Inc. will post 0.34 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. Piper Sandler downgraded CAVA Group from an “overweight” rating to a “neutral” rating and upped their target price for the company from $63.00 to $92.00 in a research report on Thursday, May 30th. Barclays upped their target price on CAVA Group from $58.00 to $72.00 and gave the company an “equal weight” rating in a research report on Thursday, May 30th. Morgan Stanley upped their price objective on shares of CAVA Group from $68.00 to $85.00 and gave the company an “overweight” rating in a report on Wednesday, May 29th. TD Cowen boosted their target price on shares of CAVA Group from $90.00 to $95.00 and gave the company a “buy” rating in a research report on Thursday, June 13th. Finally, Argus raised CAVA Group from a “hold” rating to a “buy” rating and set a $70.00 price objective for the company in a report on Wednesday, April 10th. Six investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, CAVA Group currently has an average rating of “Moderate Buy” and a consensus target price of $81.50.

Hedge Funds Weigh In On CAVA Group

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Modus Advisors LLC purchased a new position in CAVA Group in the 2nd quarter valued at $407,000. Cetera Advisors LLC purchased a new stake in shares of CAVA Group during the 1st quarter worth $301,000. Cetera Investment Advisers purchased a new stake in shares of CAVA Group during the 1st quarter worth $2,455,000. National Wealth Management Group LLC purchased a new stake in shares of CAVA Group during the 1st quarter worth $258,000. Finally, Jaffetilchin Investment Partners LLC boosted its position in shares of CAVA Group by 38.8% during the 1st quarter. Jaffetilchin Investment Partners LLC now owns 6,629 shares of the company’s stock worth $464,000 after purchasing an additional 1,854 shares in the last quarter. 73.15% of the stock is currently owned by hedge funds and other institutional investors.

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.