CAVA Group (NYSE:CAVA) Insider Kelly Costanza Sells 2,870 Shares

CAVA Group, Inc. (NYSE:CAVA) insider Kelly Costanza sold 2,870 shares of the business’s stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $89.43, for a total value of $256,664.10. Following the sale, the insider directly owned 110,980 shares of the company’s stock, valued at approximately $9,924,941.40. This trade represents a 2.52% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Kelly Costanza also recently made the following trade(s):

• On Wednesday, June 17th, Kelly Costanza sold 12,490 shares of CAVA Group stock. The stock was sold at an average price of $90.00, for a total value of $1,124,100.00.
• On Thursday, May 21st, Kelly Costanza sold 10,010 shares of CAVA Group stock. The stock was sold at an average price of $79.87, for a total value of $799,498.70.

CAVA Group Price Performance

NYSE CAVA opened at $88.09 on Thursday. CAVA Group, Inc. has a 1-year low of $43.41 and a 1-year high of $98.79. The firm has a market capitalization of $10.26 billion, a P/E ratio of 169.41, a P/E/G ratio of 5.98 and a beta of 1.70. The business’s 50-day simple moving average is $83.99 and its 200-day simple moving average is $73.89.

CAVA Group (NYSE:CAVA) last posted its earnings results on Tuesday, May 19th. The company reported $0.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.17 by $0.03. CAVA Group had a net margin of 4.79% and a return on equity of 7.92%. The firm had revenue of $438.27 million during the quarter, compared to the consensus estimate of $360.89 million. During the same quarter in the prior year, the company earned $0.22 EPS. The company’s revenue was up 32.1% on a year-over-year basis. On average, equities research analysts expect that CAVA Group, Inc. will post 0.55 EPS for the current fiscal year.

CAVA Group News Summary

Here are the key news stories impacting CAVA Group this week:

• Positive Sentiment: Jim Cramer reiterated a bullish view on CAVA, calling it “the best of the new concepts” and recommending it as a buy, which may help support investor confidence. Article: Jim Cramer Calls CAVA ‘Tasty, Clean, Fun,’ Says Make This Biotech ‘Your Speculation’
• Neutral Sentiment: Analysts remain generally constructive, with a consensus “Moderate Buy” rating and an average price target above the current share price, reinforcing the longer-term growth story for CAVA Group. Article: 2 Restaurant Stocks, 2 Earnings Beats, 2 Very Different Setups
• Neutral Sentiment: A separate piece questioned whether CAVA’s expansion plan can sustain its momentum, but it did not report a new operational setback or financial surprise. Article: Can CAVA’s Expansion Plan Sustain Its Momentum?
• Negative Sentiment: Multiple insiders, including CEO Brett Schulman, CFO Tricia K. Tolivar, CAO Adam David Phillips, and executive Theodoros Xenohristos, sold shares near $89.43 to $90.00. While the trades were described as equity-award tax withholding, the broad selling activity may weigh on sentiment. Article: Insider Selling: CAVA Group (NYSE:CAVA) CEO Sells 33,174 Shares of Stock

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the business. Liontrust Investment Partners LLP bought a new position in shares of CAVA Group during the third quarter worth about $43,189,000. Leibman Financial Services Inc. increased its holdings in shares of CAVA Group by 162.9% during the 4th quarter. Leibman Financial Services Inc. now owns 67,324 shares of the company’s stock valued at $3,951,000 after acquiring an additional 41,712 shares during the last quarter. Alliancebernstein L.P. grew its holdings in shares of CAVA Group by 118.3% in the 3rd quarter. Alliancebernstein L.P. now owns 2,953,688 shares of the company’s stock worth $178,432,000 after purchasing an additional 1,600,630 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. increased its holdings in shares of CAVA Group by 20.4% during the third quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 103,706 shares of the company’s stock worth $6,265,000 after buying an additional 17,600 shares in the last quarter. Finally, Envestnet Asset Management Inc. lifted its position in CAVA Group by 57.7% during the 3rd quarter. Envestnet Asset Management Inc. now owns 222,499 shares of the company’s stock worth $13,441,000 after buying an additional 81,393 shares in the last quarter. 73.15% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on CAVA shares. The Goldman Sachs Group lifted their target price on shares of CAVA Group from $75.00 to $86.00 and gave the company a “neutral” rating in a report on Monday, April 13th. Argus set a $92.00 price objective on CAVA Group in a research report on Friday, May 22nd. BMO Capital Markets set a $100.00 price objective on CAVA Group in a research note on Wednesday, May 20th. Roth Mkm reaffirmed a “buy” rating and issued a $106.00 target price on shares of CAVA Group in a research report on Wednesday, May 20th. Finally, TD Cowen reiterated a “buy” rating and set a $100.00 target price on shares of CAVA Group in a report on Thursday, June 4th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $93.37.

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.