CAVA Group (NYSE:CAVA) CAO Adam David Phillips Sells 5,181 Shares of Stock

CAVA Group, Inc. (NYSE:CAVA) CAO Adam David Phillips sold 5,181 shares of the business’s stock in a transaction dated Thursday, May 21st. The stock was sold at an average price of $77.14, for a total transaction of $399,662.34. Following the transaction, the chief accounting officer owned 9,505 shares in the company, valued at approximately $733,215.70. This trade represents a 35.28% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

CAVA Group Stock Down 1.1%

CAVA opened at $80.41 on Friday. CAVA Group, Inc. has a twelve month low of $43.41 and a twelve month high of $98.79. The company’s 50-day moving average price is $84.97 and its two-hundred day moving average price is $69.73. The stock has a market cap of $9.37 billion, a price-to-earnings ratio of 154.63, a PEG ratio of 5.67 and a beta of 1.90.

CAVA Group (NYSE:CAVA) last issued its quarterly earnings results on Tuesday, May 19th. The company reported $0.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.17 by $0.03. The company had revenue of $438.27 million during the quarter, compared to analyst estimates of $360.89 million. CAVA Group had a net margin of 4.79% and a return on equity of 7.92%. CAVA Group’s quarterly revenue was up 32.1% compared to the same quarter last year. During the same quarter last year, the business posted $0.22 EPS. As a group, sell-side analysts anticipate that CAVA Group, Inc. will post 0.54 earnings per share for the current year.

Analyst Ratings Changes

Several equities analysts recently commented on CAVA shares. Roth Mkm reiterated a “buy” rating and issued a $106.00 price objective on shares of CAVA Group in a research note on Wednesday. Piper Sandler upped their price objective on CAVA Group from $85.00 to $92.00 and gave the company an “overweight” rating in a research note on Wednesday. Sanford C. Bernstein reiterated an “outperform” rating and issued a $95.00 price objective on shares of CAVA Group in a research note on Wednesday. Truist Financial upped their price objective on CAVA Group from $80.00 to $85.00 and gave the company a “buy” rating in a research note on Wednesday, February 25th. Finally, BMO Capital Markets set a $100.00 price objective on CAVA Group in a research note on Wednesday. One research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, ten have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $93.19.

Key CAVA Group News

Here are the key news stories impacting CAVA Group this week:

• Positive Sentiment: Argus upgraded CAVA Group from hold to buy, reinforcing the optimistic post-earnings sentiment around the stock. Argus upgrade coverage
• Positive Sentiment: Analyst commentary continued to lean bullish, with Piper Sandler reaffirming a buy rating, Roth MKM reiterating buy, and TD Cowen maintaining a buy call. Piper Sandler coverage
• Positive Sentiment: Recent coverage highlighted strong Q1 results, including 9.7% same-restaurant sales growth and improved operating leverage, which supports the case for continued fundamental momentum. Seeking Alpha article
• Neutral Sentiment: DA Davidson raised its price target to $84 from $80 but kept a neutral rating, suggesting upside potential but also valuation caution. DA Davidson price target update
• Neutral Sentiment: Insider selling was disclosed by CAO Adam David Phillips and insider Kelly Costanza, though Costanza’s sale was tied to tax withholding on vesting equity awards, making the signal less negative than a discretionary sale. SEC filing

Institutional Trading of CAVA Group

Institutional investors have recently modified their holdings of the business. Los Angeles Capital Management LLC purchased a new stake in shares of CAVA Group during the 4th quarter valued at approximately $25,000. Cornerstone Planning Group LLC lifted its stake in shares of CAVA Group by 378.7% during the 3rd quarter. Cornerstone Planning Group LLC now owns 450 shares of the company’s stock valued at $27,000 after buying an additional 356 shares in the last quarter. Harbor Investment Advisory LLC lifted its stake in shares of CAVA Group by 347.8% during the 4th 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. CNB Bank lifted its stake in shares of CAVA Group by 275.8% during the 3rd quarter. CNB Bank now owns 575 shares of the company’s stock valued at $35,000 after buying an additional 422 shares in the last quarter. Finally, TD Private Client Wealth LLC lifted its stake in shares of CAVA Group by 118.2% during the 4th 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 in the last quarter. 73.15% of the stock is currently owned by hedge funds and other institutional investors.

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.