CAVA Group (NYSE:CAVA) Insider Sells $799,498.70 in Stock

CAVA Group, Inc. (NYSE:CAVA) insider Kelly Costanza sold 10,010 shares of the business’s stock in a transaction that occurred on Thursday, May 21st. The shares were sold at an average price of $79.87, for a total value of $799,498.70. Following the transaction, the insider owned 113,850 shares of the company’s stock, valued at approximately $9,093,199.50. This trade represents a 8.08% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

CAVA Group Trading Down 0.0%

Shares of NYSE:CAVA opened at $80.41 on Monday. The stock has a 50 day moving average of $84.97 and a 200 day moving average of $69.85. The company has a market cap of $9.37 billion, a PE ratio of 154.63, a price-to-earnings-growth ratio of 5.61 and a beta of 1.90. 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. The company had revenue of $438.27 million during the quarter, compared to the consensus estimate of $360.89 million. CAVA Group had a return on equity of 7.92% and a net margin of 4.79%.The firm’s revenue was up 32.1% on a year-over-year basis. During the same period in the previous year, the company posted $0.22 EPS. Equities research analysts predict that CAVA Group, Inc. will post 0.54 earnings per share for the current fiscal year.

Key Stories Impacting CAVA Group

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

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. Weiss Ratings upgraded CAVA Group from a “hold (c-)” rating to a “hold (c)” rating in a research note on Wednesday. DA Davidson upped their price target on CAVA Group from $80.00 to $84.00 and gave the stock a “neutral” rating in a research note on Thursday. Telsey Advisory Group upped their price target on CAVA Group from $92.00 to $95.00 and gave the stock an “outperform” rating in a research note on Wednesday. Robert W. Baird upped their price target on CAVA Group from $88.00 to $98.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 20th. Finally, Benchmark upped their price target on CAVA Group from $80.00 to $110.00 and gave the stock a “buy” rating in a research note on Monday, April 20th. One analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating, ten have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, CAVA Group currently has a consensus rating of “Moderate Buy” and a consensus price target of $93.19.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CAVA. Bison Wealth LLC bought a new position in shares of CAVA Group during the 4th quarter valued at approximately $208,000. Goldman Sachs Group Inc. boosted its position in shares of CAVA Group by 14.3% during the 1st quarter. Goldman Sachs Group Inc. now owns 606,780 shares of the company’s stock valued at $52,432,000 after acquiring an additional 75,828 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in shares of CAVA Group by 17.3% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 236,622 shares of the company’s stock valued at $20,447,000 after acquiring an additional 34,860 shares during the last quarter. Brown Advisory Inc. boosted its position in shares of CAVA Group by 9.3% during the 2nd quarter. Brown Advisory Inc. now owns 2,979 shares of the company’s stock valued at $251,000 after acquiring an additional 253 shares during the last quarter. Finally, Cresset Asset Management LLC boosted its position in shares of CAVA Group by 20.3% during the 2nd quarter. Cresset Asset Management LLC now owns 9,165 shares of the company’s stock valued at $772,000 after acquiring an additional 1,549 shares during the last quarter. 73.15% of the stock is currently owned by 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.