Insider Selling: CAVA Group (NYSE:CAVA) Insider Sells 1,702 Shares of Stock

CAVA Group, Inc. (NYSE:CAVA) insider Kelly Costanza sold 1,702 shares of CAVA Group stock in a transaction on Wednesday, January 21st. The shares were sold at an average price of $67.41, for a total value of $114,731.82. Following the transaction, the insider owned 120,846 shares in the company, valued at $8,146,228.86. This trade represents a 1.39% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link.

CAVA Group Stock Performance

Shares of CAVA Group stock traded up $0.26 during trading hours on Friday, hitting $66.35. The company’s stock had a trading volume of 2,762,397 shares, compared to its average volume of 3,899,031. The business has a 50 day moving average price of $57.71 and a two-hundred day moving average price of $65.53. CAVA Group, Inc. has a 12-month low of $43.41 and a 12-month high of $144.49. The company has a market cap of $7.70 billion, a PE ratio of 57.20, a PEG ratio of 3.44 and a beta of 2.41.

CAVA Group (NYSE:CAVA) last posted its earnings results on Tuesday, November 4th. The company reported $0.12 EPS for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.01). The firm had revenue of $292.24 million during the quarter, compared to analysts’ expectations of $292.88 million. CAVA Group had a return on equity of 8.88% and a net margin of 12.14%.CAVA Group’s quarterly revenue was up 19.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.15 earnings per share. As a group, research analysts anticipate that CAVA Group, Inc. will post 0.5 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on CAVA shares. Sanford C. Bernstein set a $70.00 target price on CAVA Group in a research report on Wednesday, January 7th. Johnson Rice set a $72.00 price objective on shares of CAVA Group in a report on Monday, January 5th. Truist Financial raised their target price on shares of CAVA Group from $66.00 to $78.00 and gave the stock a “buy” rating in a report on Thursday, January 8th. KeyCorp cut their price target on CAVA Group from $85.00 to $65.00 and set an “overweight” rating on the stock in a research report on Wednesday, November 5th. Finally, Royal Bank Of Canada set a $70.00 price objective on CAVA Group in a research note on Wednesday, November 5th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and nine have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $81.57.

Institutional Trading of CAVA Group

Institutional investors have recently made changes to their positions in the company. Maryland State Retirement & Pension System increased its holdings in CAVA Group by 37.5% in the second quarter. Maryland State Retirement & Pension System now owns 4,850 shares of the company’s stock valued at $409,000 after buying an additional 1,324 shares in the last quarter. Global Retirement Partners LLC purchased a new stake in shares of CAVA Group during the 2nd quarter worth approximately $463,000. Y Intercept Hong Kong Ltd grew its holdings in shares of CAVA Group by 271.7% in the 2nd quarter. Y Intercept Hong Kong Ltd now owns 23,659 shares of the company’s stock worth $1,993,000 after acquiring an additional 17,294 shares during the period. Hantz Financial Services Inc. increased its stake in CAVA Group by 1,846,775.0% in the 2nd quarter. Hantz Financial Services Inc. now owns 73,875 shares of the company’s stock valued at $6,222,000 after purchasing an additional 73,871 shares in the last quarter. Finally, Valeo Financial Advisors LLC acquired a new position in CAVA Group during the second quarter worth $57,824,000. 73.15% of the stock is owned by institutional investors and hedge funds.

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.