CAVA Group (NYSE:CAVA) CAO Adam David Phillips Sells 774 Shares

CAVA Group, Inc. (NYSE:CAVA) CAO Adam David Phillips sold 774 shares of the business’s stock in a transaction on Tuesday, January 27th. The stock was sold at an average price of $62.14, for a total value of $48,096.36. Following the sale, the chief accounting officer directly owned 10,435 shares in the company, valued at $648,430.90. This trade represents a 6.91% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

CAVA Group Stock Performance

Shares of NYSE:CAVA traded up $0.30 during midday trading on Thursday, reaching $63.00. The company had a trading volume of 2,829,528 shares, compared to its average volume of 3,729,937. The company has a fifty day simple moving average of $59.13 and a two-hundred day simple moving average of $64.65. The firm has a market cap of $7.31 billion, a price-to-earnings ratio of 54.31, a price-to-earnings-growth ratio of 4.46 and a beta of 2.41. CAVA Group, Inc. has a 1-year low of $43.41 and a 1-year high of $144.49.

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

Institutional Trading of CAVA Group

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Maryland State Retirement & Pension System increased its stake in shares of 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 bought a new stake in CAVA Group during the 2nd quarter worth about $463,000. Y Intercept Hong Kong Ltd increased its position in CAVA Group by 271.7% in the 2nd quarter. Y Intercept Hong Kong Ltd now owns 23,659 shares of the company’s stock valued at $1,993,000 after acquiring an additional 17,294 shares in the last quarter. Hantz Financial Services Inc. raised its stake in shares of CAVA Group by 1,846,775.0% in the second quarter. Hantz Financial Services Inc. now owns 73,875 shares of the company’s stock worth $6,222,000 after acquiring an additional 73,871 shares during the last quarter. Finally, KLP Kapitalforvaltning AS raised its stake in shares of CAVA Group by 5.0% in the second quarter. KLP Kapitalforvaltning AS now owns 18,800 shares of the company’s stock worth $1,584,000 after acquiring an additional 900 shares during the last quarter. Institutional investors and hedge funds own 73.15% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on CAVA shares. UBS Group increased their target price on CAVA Group from $58.00 to $66.00 and gave the company a “neutral” rating in a report on Tuesday, January 6th. Johnson Rice set a $72.00 price target on CAVA Group in a research report on Monday, January 5th. Barclays raised their price objective on CAVA Group from $52.00 to $70.00 and gave the stock an “equal weight” rating in a research report on Wednesday, January 7th. Piper Sandler dropped their target price on CAVA Group from $100.00 to $71.00 and set an “overweight” rating on the stock in a report on Wednesday, November 5th. Finally, Argus reduced their price target on shares of CAVA Group from $76.00 to $60.00 and set a “buy” rating for the company in a research report on Thursday, November 13th. One 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. According to data from MarketBeat.com, CAVA Group currently has an average rating of “Moderate Buy” and an average price target of $81.57.

About CAVA Group

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.