International S.C.A. Artal Sells 2,000,000 Shares of CAVA Group, Inc. (NYSE:CAVA) Stock

CAVA Group, Inc. (NYSE:CAVA) Director International S.C.A. Artal sold 2,000,000 shares of the stock in a transaction on Thursday, March 21st. The stock was sold at an average price of $66.25, for a total value of $132,500,000.00. Following the sale, the director now owns 26,507,990 shares of the company’s stock, valued at $1,756,154,337.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

CAVA Group Stock Up 0.4 %

Shares of CAVA traded up $0.29 on Monday, hitting $68.25. The company’s stock had a trading volume of 1,278,976 shares, compared to its average volume of 2,230,176. CAVA Group, Inc. has a fifty-two week low of $29.05 and a fifty-two week high of $69.20. The company has a 50 day moving average price of $54.33 and a 200 day moving average price of $42.16.

CAVA Group (NYSE:CAVA) last announced its earnings results on Monday, February 26th. The company reported $0.02 EPS for the quarter, topping the consensus estimate of $0.01 by $0.01. The business had revenue of $175.50 million for the quarter, compared to the consensus estimate of $240.03 million. CAVA Group had a return on equity of 4.28% and a net margin of 1.82%. CAVA Group’s revenue was up 52.6% compared to the same quarter last year. As a group, sell-side analysts predict that CAVA Group, Inc. will post 0.24 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have weighed in on CAVA. William Blair restated an “outperform” rating on shares of CAVA Group in a report on Tuesday, February 27th. Argus assumed coverage on CAVA Group in a research report on Monday, January 29th. They issued a “hold” rating on the stock. TD Cowen assumed coverage on CAVA Group in a research report on Wednesday, December 13th. They issued an “outperform” rating and a $46.00 price target on the stock. Piper Sandler raised their price target on CAVA Group from $46.00 to $63.00 and gave the company an “overweight” rating in a research report on Wednesday, February 28th. Finally, Morgan Stanley lifted their target price on CAVA Group from $49.00 to $62.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 28th. Four research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat, CAVA Group currently has an average rating of “Moderate Buy” and an average price target of $56.50.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of CAVA. Revolution Growth Management Company Inc. acquired a new position in CAVA Group during the 2nd quarter worth $265,169,000. Capital Research Global Investors raised its position in shares of CAVA Group by 249.5% during the 4th quarter. Capital Research Global Investors now owns 4,369,281 shares of the company’s stock valued at $187,792,000 after acquiring an additional 3,119,281 shares during the last quarter. 1832 Asset Management L.P. raised its position in shares of CAVA Group by 79.5% during the 4th quarter. 1832 Asset Management L.P. now owns 2,248,400 shares of the company’s stock valued at $96,636,000 after acquiring an additional 995,800 shares during the last quarter. Alliancebernstein L.P. bought a new stake in shares of CAVA Group during the 2nd quarter valued at $30,364,000. Finally, FMR LLC raised its position in shares of CAVA Group by 92.1% during the 3rd quarter. FMR LLC now owns 1,138,113 shares of the company’s stock valued at $34,860,000 after acquiring an additional 545,799 shares during the last quarter. Institutional investors and hedge funds own 73.15% of the company’s stock.

CAVA Group Company Profile

CAVA Group, Inc owns and operates a chain of restaurants under the CAVA brand in the United States. The company also offers dips, spreads, and dressings through grocery stores. In addition, the company provides online and mobile ordering platforms. Cava Group, Inc was founded in 2006 and is headquartered in Washington, the District of Columbia.