CAVA Group (NYSE:CAVA) Insider Kelly Costanza Sells 12,490 Shares

CAVA Group, Inc. (NYSE:CAVA) insider Kelly Costanza sold 12,490 shares of the company’s stock in a transaction dated Wednesday, June 17th. The shares were sold at an average price of $90.00, for a total transaction of $1,124,100.00. Following the sale, the insider directly owned 98,490 shares of the company’s stock, valued at $8,864,100. The trade was a 11.25% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Kelly Costanza also recently made the following trade(s):

• On Monday, June 15th, Kelly Costanza sold 2,870 shares of CAVA Group stock. The stock was sold at an average price of $89.43, for a total transaction of $256,664.10.
• On Thursday, May 21st, Kelly Costanza sold 10,010 shares of CAVA Group stock. The stock was sold at an average price of $79.87, for a total transaction of $799,498.70.

CAVA Group Trading Up 0.9%

Shares of NYSE CAVA opened at $88.09 on Thursday. The firm has a 50 day moving average of $83.99 and a 200 day moving average of $73.89. The firm has a market capitalization of $10.26 billion, a price-to-earnings ratio of 169.41, a price-to-earnings-growth ratio of 5.98 and a beta of 1.70. CAVA Group, Inc. has a 12-month low of $43.41 and a 12-month high of $98.79.

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

Analysts Set New Price Targets

A number of brokerages recently commented on CAVA. Sanford C. Bernstein reaffirmed an “outperform” rating and issued a $95.00 target price on shares of CAVA Group in a report on Wednesday, May 20th. Guggenheim initiated coverage on CAVA Group in a report on Thursday, March 26th. They set a “buy” rating and a $100.00 price target for the company. Weiss Ratings raised CAVA Group from a “hold (c-)” rating to a “hold (c)” rating in a research note on Wednesday, May 20th. Wolfe Research initiated coverage on CAVA Group in a research report on Monday, March 9th. They set an “outperform” rating and a $93.00 price objective on the stock. Finally, Citigroup boosted their price objective on CAVA Group from $75.00 to $92.00 and gave the company a “neutral” rating in a research note on Monday, May 4th. One research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, CAVA Group has a consensus rating of “Moderate Buy” and an average target price of $93.37.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Los Angeles Capital Management LLC bought a new stake in CAVA Group during the fourth quarter valued at about $25,000. Harbor Investment Advisory LLC lifted its position in shares of CAVA Group by 347.8% in the fourth quarter. Harbor Investment Advisory LLC now owns 515 shares of the company’s stock valued at $30,000 after acquiring an additional 400 shares in the last quarter. TD Private Client Wealth LLC boosted its stake in shares of CAVA Group by 118.2% in the fourth quarter. TD Private Client Wealth LLC now owns 600 shares of the company’s stock worth $35,000 after acquiring an additional 325 shares during the period. Strategic Investment Solutions Inc. IL purchased a new stake in shares of CAVA Group during the third quarter worth about $36,000. Finally, Allworth Financial LP grew its position in shares of CAVA Group by 57.4% during the fourth quarter. Allworth Financial LP now owns 650 shares of the company’s stock worth $38,000 after purchasing an additional 237 shares in the last quarter. Institutional investors own 73.15% of the company’s stock.

Key CAVA Group News

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 help support investor confidence. Article: Jim Cramer Calls CAVA ‘Tasty, Clean, Fun,’ Says Make This Biotech ‘Your Speculation’
• Neutral Sentiment: Analysts remain generally constructive, with a consensus “Moderate Buy” rating and an average price target above the current share price, reinforcing the longer-term growth story for CAVA Group. Article: 2 Restaurant Stocks, 2 Earnings Beats, 2 Very Different Setups
• Neutral Sentiment: A separate piece questioned whether CAVA’s expansion plan can sustain its momentum, but it did not report a new operational setback or financial surprise. Article: Can CAVA’s Expansion Plan Sustain Its Momentum?
• Negative Sentiment: Multiple insiders, including CEO Brett Schulman, CFO Tricia K. Tolivar, CAO Adam David Phillips, and executive Theodoros Xenohristos, sold shares near $89.43 to $90.00. While the trades were described as equity-award tax withholding, the broad selling activity may weigh on sentiment. Article: Insider Selling: CAVA Group (NYSE:CAVA) CEO Sells 33,174 Shares of 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.