CAVA Group (NYSE:CAVA) Insider Kenneth Robert Bertram Sells 3,788 Shares

CAVA Group, Inc. (NYSE:CAVA) insider Kenneth Robert Bertram sold 3,788 shares of the firm’s stock in a transaction that occurred on Wednesday, November 26th. The shares were sold at an average price of $50.70, for a total value of $192,051.60. Following the completion of the transaction, the insider owned 51,143 shares of the company’s stock, valued at approximately $2,592,950.10. This represents a 6.90% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

CAVA Group Trading Down 1.2%

Shares of CAVA Group stock traded down $0.62 on Friday, reaching $49.03. 1,306,476 shares of the company were exchanged, compared to its average volume of 3,963,388. CAVA Group, Inc. has a one year low of $43.41 and a one year high of $153.34. The company has a 50-day moving average of $57.10 and a 200 day moving average of $71.68. The company has a market capitalization of $5.69 billion, a price-to-earnings ratio of 42.27, a PEG ratio of 2.81 and a beta of 2.47.

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

Analyst Ratings Changes

CAVA has been the topic of a number of recent analyst reports. Morgan Stanley set a $86.00 target price on CAVA Group in a report on Wednesday, November 5th. Argus dropped their price objective on shares of CAVA Group from $76.00 to $60.00 and set a “buy” rating on the stock in a research report on Thursday, November 13th. Bank of America reduced their target price on shares of CAVA Group from $121.00 to $100.00 and set a “buy” rating for the company in a report on Wednesday, August 13th. Sanford C. Bernstein decreased their price target on shares of CAVA Group from $100.00 to $80.00 and set an “outperform” rating on the stock in a research note on Wednesday, November 5th. Finally, Piper Sandler cut their price objective on shares of CAVA Group from $100.00 to $71.00 and set an “overweight” rating for the company in a research report on Wednesday, November 5th. One research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and nine have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $81.75.

Institutional Investors Weigh In On CAVA Group

A number of large investors have recently modified their holdings of the business. Vision Financial Markets LLC acquired a new position in shares of CAVA Group during the 1st quarter worth $26,000. Dagco Inc. acquired a new position in CAVA Group during the first quarter worth about $27,000. Cornerstone Planning Group LLC lifted its holdings in shares of CAVA Group by 378.7% in the third quarter. Cornerstone Planning Group LLC now owns 450 shares of the company’s stock worth $27,000 after acquiring an additional 356 shares during the last quarter. Atlantic Union Bankshares Corp acquired a new stake in shares of CAVA Group in the 2nd quarter valued at approximately $31,000. Finally, Toth Financial Advisory Corp grew its holdings in shares of CAVA Group by 656.7% during the 3rd quarter. Toth Financial Advisory Corp now owns 507 shares of the company’s stock valued at $31,000 after purchasing an additional 440 shares during the last quarter. Institutional investors and hedge funds own 73.15% of the company’s stock.

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.