CAVA Group (NYSE:CAVA) Insider Sells $1,124,100.00 in Stock

CAVA Group, Inc. (NYSE:CAVA) insider Kelly Costanza sold 12,490 shares of the stock in a transaction dated Wednesday, June 17th. The shares were sold at an average price of $90.00, for a total value of $1,124,100.00. Following the completion of the sale, the insider directly owned 98,490 shares in the company, valued at $8,864,100. This represents a 11.25% decrease in their position. The transaction was disclosed in a filing 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.

Kelly Costanza also recently made the following trade(s):

• On Monday, June 15th, Kelly Costanza sold 2,870 shares of CAVA Group stock. The shares were sold at an average price of $89.43, for a total value of $256,664.10.
• On Thursday, May 21st, Kelly Costanza sold 10,010 shares of CAVA Group stock. The stock was sold at an average price of $79.87, for a total transaction of $799,498.70.

CAVA Group Trading Up 0.9%

NYSE:CAVA traded up $0.79 during mid-day trading on Wednesday, hitting $88.09. The stock had a trading volume of 2,619,620 shares, compared to its average volume of 3,388,191. The stock has a 50-day simple moving average of $83.87 and a two-hundred day simple moving average of $73.62. The company has a market capitalization of $10.26 billion, a PE ratio of 169.41, a PEG ratio of 6.14 and a beta of 1.70. CAVA Group, Inc. has a twelve month low of $43.41 and a twelve 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 the consensus estimate of $0.17 by $0.03. The company 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 firm’s revenue was up 32.1% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.22 EPS. Sell-side analysts predict that CAVA Group, Inc. will post 0.55 EPS for the current fiscal year.

Institutional Trading of CAVA Group

A number of large investors have recently bought and sold shares of CAVA. Bison Wealth LLC purchased a new stake in shares of CAVA Group in the fourth quarter valued at about $208,000. Goldman Sachs Group Inc. increased its position in CAVA Group by 14.3% in 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 period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in CAVA Group by 17.3% in 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 period. Brown Advisory Inc. raised its stake in 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 raised its stake in 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. Institutional investors and hedge funds own 73.15% of the company’s stock.

Analyst Ratings Changes

CAVA has been the topic of several research analyst reports. Roth Mkm reiterated a “buy” rating and set a $106.00 price target on shares of CAVA Group in a research note on Wednesday, May 20th. Piper Sandler raised their price objective on CAVA Group from $85.00 to $92.00 and gave the stock an “overweight” rating in a report on Wednesday, May 20th. Wall Street Zen upgraded CAVA Group from a “sell” rating to a “hold” rating in a research report on Sunday, May 24th. Barclays boosted their target price on CAVA Group from $70.00 to $74.00 and gave the company an “equal weight” rating in a report on Wednesday, May 20th. Finally, BNP Paribas Exane started coverage on CAVA Group in a research note on Monday, March 30th. They set a “neutral” rating and a $91.00 price target on the stock. 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 assigned a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $93.37.

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.