CAVA Group (NYSE:CAVA) CEO Brett Schulman Sells 33,174 Shares

CAVA Group, Inc. (NYSE:CAVA) CEO Brett Schulman sold 33,174 shares of CAVA Group stock in a transaction on Monday, June 15th. The shares were sold at an average price of $89.43, for a total value of $2,966,750.82. Following the transaction, the chief executive officer owned 798,669 shares in the company, valued at $71,424,968.67. This represents a 3.99% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

CAVA Group Stock Performance

Shares of CAVA stock traded up $0.79 on Wednesday, reaching $88.09. 2,619,620 shares of the company’s stock traded hands, compared to its average volume of 3,388,191. CAVA Group, Inc. has a 12-month low of $43.41 and a 12-month high of $98.79. The company has a market capitalization of $10.26 billion, a P/E ratio of 169.41, a price-to-earnings-growth ratio of 6.14 and a beta of 1.70. The business’s 50 day moving average price is $83.87 and its two-hundred day moving average price is $73.62.

CAVA Group (NYSE:CAVA) last released its quarterly earnings data on Tuesday, May 19th. The company reported $0.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.17 by $0.03. The firm had revenue of $438.27 million during the quarter, compared to analysts’ expectations of $360.89 million. CAVA Group had a return on equity of 7.92% and a net margin of 4.79%.The business’s revenue for the quarter was up 32.1% on a year-over-year basis. During the same quarter last year, the firm earned $0.22 earnings per share. Research analysts predict that CAVA Group, Inc. will post 0.55 earnings per share for the current year.

Analyst Ratings Changes

CAVA has been the subject of a number of research reports. Robert W. Baird lifted their price objective on CAVA Group from $88.00 to $98.00 and gave the company an “outperform” rating in a research report on Wednesday, May 20th. Morgan Stanley lifted their price objective on CAVA Group from $85.00 to $86.00 and gave the company an “equal weight” rating in a research report on Wednesday, May 20th. Argus set a $92.00 price objective on CAVA Group in a research report on Friday, May 22nd. JPMorgan Chase & Co. lifted their price objective on CAVA Group from $80.00 to $90.00 and gave the company an “overweight” rating in a research report on Friday, April 24th. Finally, Northcoast Research raised CAVA Group to a “strong sell” rating in a research report on Tuesday, April 21st. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, CAVA Group has an average rating of “Moderate Buy” and an average price target of $93.37.

Institutional Trading of CAVA Group

Large investors have recently modified their holdings of the company. NewEdge Advisors LLC grew its stake in CAVA Group by 6.7% in the 1st quarter. NewEdge Advisors LLC now owns 12,394 shares of the company’s stock valued at $1,003,000 after buying an additional 782 shares during the last quarter. Amundi lifted its position in CAVA Group by 578.4% during the 1st quarter. Amundi now owns 290,281 shares of the company’s stock worth $23,484,000 after acquiring an additional 247,489 shares during the last quarter. EverSource Wealth Advisors LLC lifted its position in CAVA Group by 60.7% during the 1st quarter. EverSource Wealth Advisors LLC now owns 1,040 shares of the company’s stock worth $84,000 after acquiring an additional 393 shares during the last quarter. California State Teachers Retirement System boosted its holdings in CAVA Group by 25.2% during the first quarter. California State Teachers Retirement System now owns 110,842 shares of the company’s stock valued at $8,967,000 after acquiring an additional 22,322 shares during the period. Finally, Quantinno Capital Management LP boosted its holdings in CAVA Group by 123.0% during the first quarter. Quantinno Capital Management LP now owns 76,126 shares of the company’s stock valued at $6,159,000 after acquiring an additional 41,986 shares during the period. 73.15% of the stock is owned by institutional investors.

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.