CAVA Group, Inc. (NYSE:CAVA) Insider Kenneth Robert Bertram Sells 678 Shares

CAVA Group, Inc. (NYSE:CAVA) insider Kenneth Robert Bertram sold 678 shares of the company’s stock in a transaction dated Monday, January 27th. The stock was sold at an average price of $124.39, for a total value of $84,336.42. Following the transaction, the insider now directly owns 57,312 shares of the company’s stock, valued at approximately $7,129,039.68. This represents a 1.17 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link.

CAVA Group Trading Up 7.4 %

NYSE CAVA traded up $9.31 on Wednesday, hitting $135.27. 3,500,334 shares of the stock traded hands, compared to its average volume of 2,087,557. The company has a market capitalization of $15.50 billion, a P/E ratio of 294.06 and a beta of 3.21. The stock has a 50-day moving average of $125.46 and a 200 day moving average of $119.33. CAVA Group, Inc. has a twelve month low of $46.56 and a twelve month high of $172.43.

CAVA Group (NYSE:CAVA) last issued its earnings results on Tuesday, November 12th. The company reported $0.15 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.11 by $0.04. CAVA Group had a net margin of 5.88% and a return on equity of 9.10%. The firm had revenue of $243.82 million for the quarter, compared to analysts’ expectations of $233.05 million. During the same quarter last year, the company posted $0.06 earnings per share. CAVA Group’s revenue 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 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the stock. TD Cowen upped their price objective on shares of CAVA Group from $130.00 to $150.00 and gave the company a “buy” rating in a research note on Wednesday, November 13th. Morgan Stanley raised their price target on CAVA Group from $123.00 to $135.00 and gave the stock an “equal weight” rating in a research note on Thursday, November 14th. Loop Capital boosted 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. Sanford C. Bernstein began coverage on shares of CAVA Group in a report on Wednesday, November 20th. They issued a “market perform” rating and a $145.00 target price on the stock. Finally, Stifel Nicolaus increased their price target on shares of CAVA Group from $118.00 to $175.00 and gave the stock a “buy” rating in a research note on Wednesday, November 13th. Eight investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $142.13.

Institutional Trading of CAVA Group

Hedge funds have recently bought and sold shares of the company. Nwam LLC raised its holdings in shares of CAVA Group by 2.6% during the third quarter. Nwam LLC now owns 3,368 shares of the company’s stock valued at $417,000 after buying an additional 85 shares during the last quarter. Howard Financial Services LTD. raised its stake in CAVA Group by 1.8% during the 4th quarter. Howard Financial Services LTD. now owns 6,194 shares of the company’s stock valued at $699,000 after acquiring an additional 109 shares in the last quarter. CIBC Asset Management Inc boosted its position in CAVA Group by 3.5% during the 3rd quarter. CIBC Asset Management Inc now owns 3,287 shares of the company’s stock worth $407,000 after acquiring an additional 110 shares during the period. Farther Finance Advisors LLC grew its stake in shares of CAVA Group by 6.3% in the third quarter. Farther Finance Advisors LLC now owns 1,916 shares of the company’s stock worth $237,000 after purchasing an additional 113 shares in the last quarter. Finally, GAMMA Investing LLC raised its stake in shares of CAVA Group by 37.0% during the fourth quarter. GAMMA Investing LLC now owns 422 shares of the company’s stock valued at $48,000 after purchasing an additional 114 shares in the last quarter. 73.15% of the stock is currently owned by 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.