Insider Selling: CAVA Group, Inc. (NYSE:CAVA) Insider Sells $215,032.76 in Stock

CAVA Group, Inc. (NYSE:CAVA) insider Jennifer Somers sold 2,861 shares of the firm’s stock in a transaction on Monday, June 16th. The stock was sold at an average price of $75.16, for a total value of $215,032.76. Following the transaction, the insider now owns 137,048 shares of the company’s stock, valued at approximately $10,300,527.68. This represents a 2.04% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

CAVA Group Price Performance

Shares of NYSE CAVA opened at $74.74 on Friday. The company has a market capitalization of $8.64 billion, a price-to-earnings ratio of 62.29, a price-to-earnings-growth ratio of 3.48 and a beta of 2.77. The business has a 50-day moving average of $86.07 and a two-hundred day moving average of $101.51. CAVA Group, Inc. has a 1 year low of $70.00 and a 1 year high of $172.43.

CAVA Group (NYSE:CAVA) last posted its earnings results on Thursday, May 15th. The company reported $0.22 EPS for the quarter, topping analysts’ consensus estimates of $0.14 by $0.08. CAVA Group had a return on equity of 10.61% and a net margin of 13.70%. The business had revenue of $331.83 million for the quarter, compared to analysts’ expectations of $327.98 million. During the same quarter in the previous year, the firm earned $0.12 earnings per share. The business’s revenue was up 28.1% compared to the same quarter last year. As a group, equities research analysts expect that CAVA Group, Inc. will post 0.5 earnings per share for the current year.

Institutional Trading of CAVA Group

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Utah Retirement Systems increased its position in shares of CAVA Group by 2.5% during the fourth quarter. Utah Retirement Systems now owns 4,100 shares of the company’s stock worth $462,000 after purchasing an additional 100 shares in the last quarter. Whittier Trust Co. increased its position in shares of CAVA Group by 80.9% during the fourth quarter. Whittier Trust Co. now owns 284 shares of the company’s stock worth $32,000 after purchasing an additional 127 shares in the last quarter. Mainstream Capital Management LLC increased its position in shares of CAVA Group by 0.7% during the fourth quarter. Mainstream Capital Management LLC now owns 17,758 shares of the company’s stock worth $2,003,000 after purchasing an additional 132 shares in the last quarter. Whittier Trust Co. of Nevada Inc. increased its position in shares of CAVA Group by 37.3% during the first quarter. Whittier Trust Co. of Nevada Inc. now owns 530 shares of the company’s stock worth $46,000 after purchasing an additional 144 shares in the last quarter. Finally, Miracle Mile Advisors LLC increased its position in shares of CAVA Group by 1.9% during the first quarter. Miracle Mile Advisors LLC now owns 8,247 shares of the company’s stock worth $713,000 after purchasing an additional 150 shares in the last quarter. Institutional investors and hedge funds own 73.15% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on CAVA. JPMorgan Chase & Co. upgraded CAVA Group from a “neutral” rating to an “overweight” rating and set a $110.00 target price for the company in a report on Thursday, March 20th. Piper Sandler upgraded CAVA Group from a “neutral” rating to an “overweight” rating and decreased their target price for the company from $142.00 to $115.00 in a report on Friday, February 28th. Bank of America lifted their target price on CAVA Group from $112.00 to $121.00 and gave the company a “buy” rating in a report on Monday, May 19th. Sanford C. Bernstein upgraded CAVA Group from a “market perform” rating to an “outperform” rating and set a $115.00 target price for the company in a report on Wednesday, April 23rd. Finally, Wedbush reiterated an “outperform” rating and issued a $150.00 target price on shares of CAVA Group in a report on Wednesday, February 26th. Five analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $119.88.

About CAVA Group

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.