CAVA Group (NYSE:CAVA) Insider Douglas Thompson Acquires 6,500 Shares

CAVA Group, Inc. (NYSE:CAVA) insider Douglas Thompson purchased 6,500 shares of CAVA Group stock in a transaction dated Monday, August 31st. The shares were acquired at an average cost of $66.52 per share, for a total transaction of $432,380.00. Following the transaction, the insider directly owned 19,371 shares of the company’s stock, valued at approximately $1,288,558.92. This represents a 50.50% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

CAVA Group Stock Performance

NYSE CAVA opened at $61.64 on Thursday. The firm has a 50 day simple moving average of $68.94 and a 200-day simple moving average of $77.28. CAVA Group, Inc. has a one year low of $43.41 and a one year high of $98.79. The firm has a market cap of $7.20 billion, a price-to-earnings ratio of 112.08, a PEG ratio of 4.79 and a beta of 1.74.

CAVA Group (NYSE:CAVA) last announced its quarterly earnings data on Tuesday, August 11th. The company reported $0.19 earnings per share for the quarter, beating analysts’ consensus estimates of $0.18 by $0.01. CAVA Group had a net margin of 4.82% and a return on equity of 8.28%. The firm had revenue of $368.44 million during the quarter, compared to analysts’ expectations of $360.09 million. During the same quarter in the previous year, the business posted $0.16 earnings per share. The business’s quarterly revenue was up 31.3% compared to the same quarter last year. Equities analysts predict that CAVA Group, Inc. will post 0.54 EPS for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Bison Wealth LLC purchased a new position in shares of CAVA Group in the 4th quarter valued at $208,000. Goldman Sachs Group Inc. raised its stake in CAVA Group by 14.3% during the 1st quarter. Goldman Sachs Group Inc. now owns 606,780 shares of the company’s stock worth $52,432,000 after acquiring an additional 75,828 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in CAVA Group by 17.3% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 236,622 shares of the company’s stock valued at $20,447,000 after acquiring an additional 34,860 shares during the last quarter. Brown Advisory Inc. lifted its position in CAVA Group by 9.3% in the second quarter. Brown Advisory Inc. now owns 2,979 shares of the company’s stock valued at $251,000 after acquiring an additional 253 shares during the last quarter. Finally, Cresset Asset Management LLC boosted its stake in CAVA Group by 20.3% in the second quarter. Cresset Asset Management LLC now owns 9,165 shares of the company’s stock valued at $772,000 after acquiring an additional 1,549 shares in the last quarter. Institutional investors and hedge funds own 73.15% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the company. Sanford C. Bernstein reiterated an “outperform” rating on shares of CAVA Group in a report on Wednesday, August 12th. Piper Sandler upped their price target on CAVA Group from $85.00 to $92.00 and gave the stock an “overweight” rating in a report on Wednesday, May 20th. Guggenheim decreased their price objective on CAVA Group from $100.00 to $95.00 and set a “buy” rating for the company in a research note on Thursday, August 13th. BMO Capital Markets set a $100.00 target price on shares of CAVA Group in a research note on Wednesday, May 20th. Finally, Wall Street Zen raised shares of CAVA Group from a “sell” rating to a “hold” rating in a report on Sunday, May 24th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and nine have given a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $89.44.

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.