CAVA Group (NYSE:CAVA) CEO Brett Schulman Sells 21,650 Shares

CAVA Group, Inc. (NYSE:CAVA) CEO Brett Schulman sold 21,650 shares of the company’s stock in a transaction that occurred on Wednesday, January 21st. The shares were sold at an average price of $67.41, for a total value of $1,459,426.50. Following the completion of the transaction, the chief executive officer directly owned 807,325 shares of the company’s stock, valued at $54,421,778.25. This trade represents a 2.61% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

CAVA Group Price Performance

Shares of NYSE:CAVA traded up $0.26 during trading on Friday, hitting $66.35. 2,762,397 shares of the company were exchanged, compared to its average volume of 3,899,031. The firm’s 50 day moving average price is $57.71 and its 200-day moving average price is $65.53. CAVA Group, Inc. has a 12-month low of $43.41 and a 12-month high of $144.49. The stock has a market capitalization of $7.70 billion, a P/E ratio of 57.20, a PEG ratio of 3.44 and a beta of 2.41.

CAVA Group (NYSE:CAVA) last released its quarterly earnings data on Tuesday, November 4th. The company reported $0.12 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.13 by ($0.01). The company had revenue of $292.24 million during the quarter, compared to analyst estimates of $292.88 million. CAVA Group had a net margin of 12.14% and a return on equity of 8.88%. The business’s revenue was up 19.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.15 EPS. As a group, equities research analysts anticipate that CAVA Group, Inc. will post 0.5 EPS for the current year.

Hedge Funds Weigh In On CAVA Group

Hedge funds and other institutional investors have recently bought and sold shares of the company. Assetmark Inc. raised its stake in shares of CAVA Group by 43.3% during the 4th quarter. Assetmark Inc. now owns 140,469 shares of the company’s stock worth $8,244,000 after buying an additional 42,445 shares during the last quarter. Patten Group Inc. purchased a new position in CAVA Group during the 4th quarter valued at about $564,000. Massachusetts Financial Services Co. MA acquired a new position in CAVA Group during the fourth quarter worth about $19,460,000. Apollon Wealth Management LLC acquired a new stake in shares of CAVA Group in the fourth quarter valued at approximately $307,000. Finally, Oak Thistle LLC purchased a new position in shares of CAVA Group during the 4th quarter worth approximately $427,000. 73.15% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on CAVA shares. Telsey Advisory Group assumed coverage on shares of CAVA Group in a report on Friday, January 9th. They issued an “outperform” rating and a $85.00 target price on the stock. KeyCorp decreased their target price on shares of CAVA Group from $85.00 to $65.00 and set an “overweight” rating for the company in a research note on Wednesday, November 5th. Truist Financial upped their price objective on CAVA Group from $66.00 to $78.00 and gave the company a “buy” rating in a research note on Thursday, January 8th. Johnson Rice set a $72.00 target price on CAVA Group in a research note on Monday, January 5th. Finally, UBS Group upped their price target on CAVA Group from $58.00 to $66.00 and gave the stock a “neutral” rating in a research note on Tuesday, January 6th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and nine have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $81.57.

About CAVA Group

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.