CAVA Group (NYSE:CAVA) CFO Sells $444,377.67 in Stock

CAVA Group, Inc. (NYSE:CAVA) CFO Tricia Tolivar sold 4,969 shares of the company’s stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $89.43, for a total value of $444,377.67. Following the transaction, the chief financial officer directly owned 234,931 shares in the company, valued at $21,009,879.33. The trade was a 2.07% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

CAVA Group Stock Down 0.0%

Shares of 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 business’s fifty day moving average is $84.16 and its 200 day moving average is $74.28. The stock has a market cap of $10.38 billion, a P/E ratio of 171.44, a P/E/G ratio of 6.11 and a beta of 1.70.

CAVA Group (NYSE:CAVA) last announced 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. CAVA Group had a net margin of 4.79% and a return on equity of 7.92%. The business had revenue of $438.27 million during the quarter, compared to analyst estimates of $360.89 million. During the same quarter in the previous year, the business posted $0.22 EPS. CAVA Group’s quarterly revenue was up 32.1% on a year-over-year basis. On average, analysts expect that CAVA Group, Inc. will post 0.55 EPS for the current year.

Institutional Trading of CAVA Group

Institutional investors and hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. boosted its holdings in CAVA Group by 3.5% during the third quarter. Vanguard Group Inc. now owns 9,345,976 shares of the company’s stock worth $564,590,000 after purchasing an additional 313,938 shares during the last quarter. Capital Research Global Investors increased its stake in CAVA Group by 27.2% in the 4th quarter. Capital Research Global Investors now owns 8,440,040 shares of the company’s stock valued at $495,344,000 after buying an additional 1,805,174 shares during the last quarter. Capital International Investors increased its stake in CAVA Group by 15.5% in the 4th quarter. Capital International Investors now owns 4,885,317 shares of the company’s stock valued at $286,718,000 after buying an additional 656,581 shares during the last quarter. Morgan Stanley increased its stake in CAVA Group by 33.7% in the 4th quarter. Morgan Stanley now owns 3,318,894 shares of the company’s stock valued at $194,786,000 after buying an additional 835,628 shares during the last quarter. Finally, Alliancebernstein L.P. lifted its position in shares of 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 buying an additional 1,600,630 shares in the last quarter. Hedge funds and other institutional investors own 73.15% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on CAVA shares. BNP Paribas Exane began coverage on shares of CAVA Group in a report on Monday, March 30th. They issued a “neutral” rating and a $91.00 target price on the stock. Guggenheim began coverage on CAVA Group in a research note on Thursday, March 26th. They set a “buy” rating and a $100.00 price target for the company. Mizuho boosted their price objective on CAVA Group from $72.00 to $80.00 and gave the stock a “neutral” rating in a report on Thursday, April 2nd. Sanford C. Bernstein reissued an “outperform” rating and issued a $95.00 price objective on shares of CAVA Group in a research note on Wednesday, May 20th. Finally, Wolfe Research initiated coverage on CAVA Group in a report on Monday, March 9th. They issued an “outperform” rating and a $93.00 target price on the stock. One research analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, CAVA Group currently has a consensus rating of “Moderate Buy” and an average price target 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.