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

CAVA Group, Inc. (NYSE:CAVA) CAO Adam David Phillips sold 757 shares of the stock in a transaction on Monday, June 15th. The stock was sold at an average price of $89.43, for a total transaction of $67,698.51. Following the sale, the chief accounting officer owned 6,848 shares of the company’s stock, valued at approximately $612,416.64. This trade represents a 9.95% decrease in their ownership of the stock. The transaction 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.

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 transaction of $399,662.34.

CAVA Group Trading Up 0.9%

NYSE:CAVA opened at $88.09 on Thursday. The stock has a market capitalization of $10.26 billion, a price-to-earnings ratio of 169.41, a PEG ratio of 5.98 and a beta of 1.70. The firm has a fifty day simple moving average of $83.99 and a two-hundred day simple moving average of $73.89. CAVA Group, Inc. has a 12 month low of $43.41 and a 12 month high of $98.79.

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

CAVA Group News Summary

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

Analyst Ratings Changes

A number of research analysts recently weighed in on CAVA shares. Northcoast Research raised shares of CAVA Group to a “strong sell” rating in a research report on Tuesday, April 21st. Truist Financial lifted their price objective on shares of CAVA Group from $80.00 to $85.00 and gave the stock a “buy” rating in a research report on Wednesday, February 25th. KeyCorp boosted their target price on shares of CAVA Group from $95.00 to $105.00 and gave the company an “overweight” rating in a report on Monday, April 20th. BNP Paribas Exane assumed coverage on shares of CAVA Group in a report on Monday, March 30th. They set a “neutral” rating and a $91.00 target price on the stock. Finally, Piper Sandler upped their target price on shares of CAVA Group from $85.00 to $92.00 and gave the stock an “overweight” rating in a report on Wednesday, May 20th. One research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $93.37.

Institutional Investors Weigh In On CAVA Group

A number of institutional investors have recently made changes to their positions in the business. Capital International Investors boosted its position in CAVA Group by 105.4% during the 3rd quarter. Capital International Investors now owns 4,228,736 shares of the company’s stock valued at $255,451,000 after buying an additional 2,169,553 shares during the period. William Blair Investment Management LLC bought a new position in CAVA Group in the 3rd quarter worth $114,098,000. Capital Research Global Investors raised its holdings 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 worth $495,344,000 after purchasing an additional 1,805,174 shares in the last quarter. Alliancebernstein L.P. increased its stake in shares of CAVA Group by 118.3% in the 3rd quarter. Alliancebernstein L.P. now owns 2,953,688 shares of the company’s stock worth $178,432,000 after acquiring an additional 1,600,630 shares in the last quarter. Finally, Marshall Wace LLP increased its stake in shares of CAVA Group by 689.8% in the 4th quarter. Marshall Wace LLP now owns 1,387,774 shares of the company’s stock worth $81,448,000 after acquiring an additional 1,212,068 shares in the last quarter. Hedge funds and other institutional investors own 73.15% of the company’s stock.

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.