Insider Selling: CAVA Group (NYSE:CAVA) Director Sells 10,000 Shares

CAVA Group, Inc. (NYSE:CAVA) Director Karen Kochevar sold 10,000 shares of the firm’s stock in a transaction dated 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 transaction, the director directly owned 3,074 shares in the company, valued at $276,660. This trade represents a 76.49% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website.

CAVA Group Trading Down 3.9%

Shares of CAVA traded down $3.13 on Tuesday, reaching $77.75. 4,383,613 shares of the company’s stock were exchanged, compared to its average volume of 3,382,918. The stock has a market capitalization of $9.06 billion, a P/E ratio of 149.52, a price-to-earnings-growth ratio of 6.11 and a beta of 1.70. The business has a 50 day moving average price of $84.06 and a two-hundred day moving average price of $74.64. CAVA Group, Inc. has a 12 month low of $43.41 and a 12 month high of $98.79.

CAVA Group (NYSE:CAVA) last announced its quarterly earnings data on Tuesday, May 19th. The company reported $0.20 earnings per share (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 firm had revenue of $438.27 million for the quarter, compared to analysts’ expectations of $360.89 million. During the same period last year, the firm earned $0.22 earnings per share. The business’s revenue for the quarter was up 32.1% on a year-over-year basis. Equities research analysts predict that CAVA Group, Inc. will post 0.55 EPS for the current year.

Institutional Investors Weigh In On CAVA Group

A number of hedge funds have recently modified their holdings of CAVA. Los Angeles Capital Management LLC acquired a new position in shares of CAVA Group in the 4th quarter valued at approximately $25,000. Harbor Investment Advisory LLC lifted its stake in 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 buying an additional 400 shares in the last quarter. Strategic Investment Solutions Inc. IL bought a new position in CAVA Group in the third quarter valued at approximately $36,000. TD Private Client Wealth LLC boosted its holdings 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 valued at $35,000 after buying an additional 325 shares during the period. Finally, EverSource Wealth Advisors LLC boosted its holdings in shares of CAVA Group by 115.7% in the fourth quarter. EverSource Wealth Advisors LLC now owns 647 shares of the company’s stock valued at $38,000 after buying an additional 347 shares during the period. Institutional investors and hedge funds own 73.15% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently issued reports on the company. TD Cowen restated a “buy” rating and issued a $100.00 price target on shares of CAVA Group in a research report on Thursday, June 4th. Stifel Nicolaus upped their price objective on CAVA Group from $90.00 to $105.00 and gave the company a “buy” rating in a report on Wednesday, May 20th. Barclays increased their target price on CAVA Group from $70.00 to $74.00 and gave the company an “equal weight” rating in a research note on Wednesday, May 20th. Robert W. Baird raised their target price on CAVA Group from $88.00 to $98.00 and gave the stock an “outperform” rating in a report on Wednesday, May 20th. Finally, Roth Mkm restated a “buy” rating and set a $106.00 target price on shares of CAVA Group in a research report on Wednesday, May 20th. One equities 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 given a Sell rating to the stock. Based on data from MarketBeat.com, CAVA Group currently has a consensus rating of “Moderate Buy” and an average 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.