CAVA Group (NYSE:CAVA) Director Sells 10,000 Shares of Stock

CAVA Group, Inc. (NYSE:CAVA) Director Karen Kochevar sold 10,000 shares of the business’s stock in a transaction on Thursday, June 18th. The shares were sold at an average price of $90.00, for a total transaction of $900,000.00. Following the completion of the sale, the director directly owned 3,074 shares in the company, valued at $276,660. This represents a 76.49% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

CAVA Group Price Performance

CAVA stock traded down $3.13 during trading hours on Tuesday, reaching $77.75. 4,383,613 shares of the stock were exchanged, compared to its average volume of 3,382,918. The firm’s 50-day moving average is $84.06 and its 200-day moving average is $74.64. CAVA Group, Inc. has a 12 month low of $43.41 and a 12 month high of $98.79. The company has a market cap of $9.06 billion, a price-to-earnings ratio of 149.52, a PEG ratio of 6.11 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 EPS for the quarter, beating analysts’ consensus estimates of $0.17 by $0.03. The company had revenue of $438.27 million for the quarter, compared to analyst estimates of $360.89 million. CAVA Group had a return on equity of 7.92% and a net margin of 4.79%.The company’s quarterly revenue was up 32.1% compared to the same quarter last year. During the same period in the previous year, the company posted $0.22 earnings per share. As a group, equities research analysts forecast that CAVA Group, Inc. will post 0.55 earnings per share for the current year.

Analysts Set New Price Targets

CAVA has been the subject of a number of recent research reports. Piper Sandler upped their price target on CAVA Group from $85.00 to $92.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 20th. BMO Capital Markets set a $100.00 price objective on shares of CAVA Group in a report on Wednesday, May 20th. Sanford C. Bernstein restated an “outperform” rating and set a $95.00 target price on shares of CAVA Group in a report on Wednesday, May 20th. Mizuho increased their target price on shares of CAVA Group from $72.00 to $80.00 and gave the stock a “neutral” rating in a report on Thursday, April 2nd. Finally, Robert W. Baird lifted their price target on shares of CAVA Group from $88.00 to $98.00 and gave the company an “outperform” rating in a research note on Wednesday, May 20th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $93.37.

Hedge Funds Weigh In On CAVA Group

A number of hedge funds and other institutional investors have recently bought and sold shares of CAVA. Liontrust Investment Partners LLP acquired a new position in shares of CAVA Group during the 3rd quarter worth approximately $43,189,000. Leibman Financial Services Inc. increased its stake in CAVA Group by 162.9% during the 4th quarter. Leibman Financial Services Inc. now owns 67,324 shares of the company’s stock worth $3,951,000 after acquiring an additional 41,712 shares during the period. Alliancebernstein L.P. increased its stake in CAVA Group by 118.3% during the 3rd quarter. Alliancebernstein L.P. now owns 2,953,688 shares of the company’s stock worth $178,432,000 after acquiring an additional 1,600,630 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. raised its holdings in CAVA Group by 20.4% in the 3rd quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 103,706 shares of the company’s stock valued at $6,265,000 after acquiring an additional 17,600 shares in the last quarter. Finally, William Blair Investment Management LLC bought a new position in shares of CAVA Group in the third quarter worth $114,098,000. Institutional investors own 73.15% of the company’s stock.

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.