Adam David Phillips Sells 757 Shares of CAVA Group (NYSE:CAVA) Stock

CAVA Group, Inc. (NYSE:CAVA) CAO Adam David Phillips sold 757 shares of the company’s stock in a transaction that occurred on Monday, June 15th. The shares were sold at an average price of $89.43, for a total value of $67,698.51. Following the transaction, the chief accounting officer directly owned 6,848 shares of the company’s stock, valued at $612,416.64. This trade represents a 9.95% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Adam David Phillips also recently made the following trade(s):

• On Thursday, May 21st, Adam David Phillips sold 5,181 shares of CAVA Group stock. The stock was sold at an average price of $77.14, for a total value of $399,662.34.

CAVA Group Price Performance

NYSE:CAVA opened at $89.15 on Friday. CAVA Group, Inc. has a 12-month low of $43.41 and a 12-month high of $98.79. The firm has a market capitalization of $10.38 billion, a P/E ratio of 171.44, a P/E/G ratio of 6.04 and a beta of 1.70. The business has a 50 day simple moving average of $84.11 and a 200 day simple moving average of $74.17.

CAVA Group (NYSE:CAVA) last issued its quarterly earnings data on Tuesday, May 19th. The company reported $0.20 EPS for the quarter, topping analysts’ consensus estimates of $0.17 by $0.03. CAVA Group had a return on equity of 7.92% and a net margin of 4.79%.The firm had revenue of $438.27 million during the quarter, compared to the consensus estimate of $360.89 million. During the same period in the prior year, the business earned $0.22 EPS. The firm’s revenue was up 32.1% on a year-over-year basis. Research analysts anticipate that CAVA Group, Inc. will post 0.55 EPS for the current fiscal year.

Key Headlines Impacting CAVA Group

Here are the key news stories impacting CAVA Group this week:

• Positive Sentiment: Jim Cramer reiterated a bullish view on CAVA, calling it “the best of the new concepts” and recommending it as a buy, which may be boosting investor sentiment. Article: Jim Cramer Calls CAVA ‘Tasty, Clean, Fun,’ Says Make This Biotech ‘Your Speculation’
• Positive Sentiment: The company’s latest earnings beat continues to support the stock, with CAVA posting $0.20 EPS versus $0.17 expected and revenue of $438.27 million versus $360.89 million expected. Article: Cava (CAVA) Up 9.3% Since Last Earnings Report: Can It Continue?
• Neutral Sentiment: Analysts remain generally constructive, with a “Moderate Buy” consensus and an average price target above the current share price, reinforcing the longer-term growth narrative. Article: 2 Restaurant Stocks, 2 Earnings Beats, 2 Very Different Setups
• Negative Sentiment: Several insiders, including CEO Brett Schulman, CFO Tricia K. Tolivar, CAO Adam David Phillips, and executive Theodoros Xenohristos, sold shares near recent highs. The sales were tied to tax withholding on equity awards, but the broad insider selling could weigh on sentiment. Article: Insider Selling: CAVA Group (NYSE:CAVA) CEO Sells 33,174 Shares of Stock

Institutional Investors Weigh In On CAVA Group

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Liontrust Investment Partners LLP purchased a new stake in shares of CAVA Group in the 3rd quarter valued at approximately $43,189,000. Leibman Financial Services Inc. boosted its stake in CAVA Group by 162.9% in the 4th quarter. Leibman Financial Services Inc. now owns 67,324 shares of the company’s stock worth $3,951,000 after purchasing an additional 41,712 shares during the period. Alliancebernstein L.P. grew its position 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 purchasing an additional 1,600,630 shares in the last quarter. Envestnet Asset Management Inc. grew its position in CAVA Group by 57.7% during the 3rd quarter. Envestnet Asset Management Inc. now owns 222,499 shares of the company’s stock worth $13,441,000 after purchasing an additional 81,393 shares in the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. raised its stake in CAVA Group by 20.4% during 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 purchasing an additional 17,600 shares during the period. 73.15% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on CAVA shares. DA Davidson increased their price objective on shares of CAVA Group from $80.00 to $84.00 and gave the stock a “neutral” rating in a report on Thursday, May 21st. Guggenheim began coverage on shares of CAVA Group in a research note on Thursday, March 26th. They set a “buy” rating and a $100.00 target price for the company. Royal Bank Of Canada upped their target price on shares of CAVA Group from $100.00 to $105.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 20th. Morgan Stanley raised their price target on shares of CAVA Group from $85.00 to $86.00 and gave the company an “equal weight” rating in a research note on Wednesday, May 20th. Finally, Citigroup lifted their price target on CAVA Group from $75.00 to $92.00 and gave the company a “neutral” rating in a report on Monday, May 4th. One research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, CAVA Group currently has an average rating of “Moderate Buy” and a consensus target price of $93.37.

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.