CAVA Group (NYSE:CAVA) Insider Theodoros Xenohristos Sells 3,252 Shares

CAVA Group, Inc. (NYSE:CAVA) insider Theodoros Xenohristos sold 3,252 shares of the business’s stock in a transaction on Monday, June 15th. The stock was sold at an average price of $89.43, for a total value of $290,826.36. Following the transaction, the insider directly owned 324,630 shares of the company’s stock, valued at $29,031,660.90. The trade was a 0.99% decrease in their ownership of the stock. 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.

Theodoros Xenohristos also recently made the following trade(s):

• On Monday, May 11th, Theodoros Xenohristos sold 9,044 shares of CAVA Group stock. The shares were sold at an average price of $79.75, for a total value of $721,259.00.

CAVA Group Stock Performance

Shares of CAVA traded up $0.79 during midday trading on Wednesday, hitting $88.09. The company had a trading volume of 2,619,620 shares, compared to its average volume of 3,388,191. The company’s 50-day simple moving average is $83.87 and its 200-day simple moving average is $73.62. The firm has a market capitalization of $10.26 billion, a P/E ratio of 169.41, a P/E/G ratio of 6.14 and a beta of 1.70. CAVA Group, Inc. has a 1 year low of $43.41 and a 1 year high of $98.79.

CAVA Group (NYSE:CAVA) last released its earnings results on Tuesday, May 19th. The company reported $0.20 earnings per share for the quarter, topping analysts’ consensus estimates of $0.17 by $0.03. The firm had revenue of $438.27 million for 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%. The business’s quarterly revenue was up 32.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.22 earnings per share. Equities analysts predict that CAVA Group, Inc. will post 0.55 earnings per share for the current fiscal year.

Hedge Funds Weigh In On CAVA Group

Several large investors have recently bought and sold shares of the stock. Bison Wealth LLC purchased a new position in CAVA Group during the 4th quarter worth approximately $208,000. Goldman Sachs Group Inc. boosted its holdings in shares of CAVA Group by 14.3% in the first 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 grew its position in shares of CAVA Group by 17.3% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 236,622 shares of the company’s stock worth $20,447,000 after acquiring an additional 34,860 shares during the last quarter. Brown Advisory Inc. grew its position in shares of CAVA Group by 9.3% during the second quarter. Brown Advisory Inc. now owns 2,979 shares of the company’s stock worth $251,000 after acquiring an additional 253 shares during the last quarter. Finally, Cresset Asset Management LLC increased its holdings in shares of CAVA Group by 20.3% in 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 period. Institutional investors and hedge funds own 73.15% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on CAVA shares. Robert W. Baird raised their price objective on shares of CAVA Group from $88.00 to $98.00 and gave the company an “outperform” rating in a report on Wednesday, May 20th. Citigroup boosted their target price on shares of CAVA Group from $75.00 to $92.00 and gave the stock a “neutral” rating in a research note on Monday, May 4th. Weiss Ratings raised CAVA Group from a “hold (c-)” rating to a “hold (c)” rating in a report on Wednesday, May 20th. Telsey Advisory Group raised their price target on CAVA Group from $92.00 to $95.00 and gave the company an “outperform” rating in a research note on Wednesday, May 20th. Finally, Barclays lifted their price target on CAVA Group from $70.00 to $74.00 and gave the stock an “equal weight” rating in a report on Wednesday, May 20th. One investment 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 company. Based on data from MarketBeat, CAVA Group currently has an average 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.