CAVA Group (NYSE:CAVA) CFO Sells $149,384.56 in Stock

CAVA Group, Inc. (NYSE:CAVA) CFO Tricia Tolivar sold 2,404 shares of the firm’s stock in a transaction that occurred on Tuesday, January 27th. The shares were sold at an average price of $62.14, for a total value of $149,384.56. Following the completion of the transaction, the chief financial officer owned 231,934 shares in the company, valued at approximately $14,412,378.76. This trade represents a 1.03% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

CAVA Group Stock Performance

Shares of CAVA traded up $0.30 during trading hours on Thursday, hitting $63.00. 2,829,528 shares of the stock were exchanged, compared to its average volume of 3,729,937. The stock’s 50-day moving average price is $59.13 and its two-hundred day moving average price is $64.65. 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 $7.31 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 (NYSE:CAVA) last announced its quarterly earnings data on Tuesday, November 4th. The company reported $0.12 earnings per share for the quarter, missing analysts’ consensus estimates 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 analysts’ expectations of $292.88 million. During the same quarter in the previous year, the business posted $0.15 EPS. The company’s revenue for the quarter was up 19.9% on a year-over-year basis. On average, research analysts expect that CAVA Group, Inc. will post 0.5 earnings per share for the current year.

Hedge Funds Weigh In On CAVA Group

Several large investors have recently made changes to their positions in the stock. Capital International Investors increased its holdings in CAVA Group by 105.4% in the 3rd quarter. Capital International Investors now owns 4,228,736 shares of the company’s stock valued at $255,451,000 after purchasing an additional 2,169,553 shares during the last quarter. William Blair Investment Management LLC purchased a new position in shares of CAVA Group during the third quarter worth $114,098,000. Alliancebernstein L.P. grew its stake in shares of CAVA Group by 118.3% in the third quarter. Alliancebernstein L.P. now owns 2,953,688 shares of the company’s stock valued at $178,432,000 after buying an additional 1,600,630 shares in the last quarter. Capital Research Global Investors grew its stake in shares of CAVA Group by 28.5% in the third quarter. Capital Research Global Investors now owns 6,634,866 shares of the company’s stock valued at $400,801,000 after buying an additional 1,469,758 shares in the last quarter. Finally, Champlain Investment Partners LLC raised its holdings in shares of CAVA Group by 58.8% in the 3rd quarter. Champlain Investment Partners LLC now owns 2,146,502 shares of the company’s stock valued at $129,670,000 after buying an additional 794,547 shares during the period. 73.15% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts have commented on the stock. Mizuho increased their price objective on shares of CAVA Group from $52.00 to $64.00 and gave the company a “neutral” rating in a report on Friday, January 9th. Citigroup reaffirmed a “neutral” rating on shares of CAVA Group in a report on Wednesday, November 12th. The Goldman Sachs Group reiterated a “neutral” rating and set a $68.00 price objective on shares of CAVA Group in a research report on Wednesday, November 5th. Argus dropped their target price on CAVA Group from $76.00 to $60.00 and set a “buy” rating for the company in a report on Thursday, November 13th. Finally, Piper Sandler cut their target price on CAVA Group from $100.00 to $71.00 and set an “overweight” rating for the company in a research note on Wednesday, November 5th. One analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and nine have given a Hold rating to the company’s stock. According to data from MarketBeat.com, CAVA Group presently has a consensus rating of “Moderate Buy” and an average target price of $81.57.

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.