CAVA Group (NYSE:CAVA) CEO Sells $282,239.88 in Stock

CAVA Group, Inc. (NYSE:CAVA) CEO Brett Schulman sold 4,542 shares of CAVA Group stock in a transaction dated Tuesday, January 27th. The stock was sold at an average price of $62.14, for a total value of $282,239.88. Following the completion of the transaction, the chief executive officer directly owned 802,783 shares of the company’s stock, valued at approximately $49,884,935.62. This represents a 0.56% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Brett Schulman also recently made the following trade(s):

• On Wednesday, January 21st, Brett Schulman sold 21,650 shares of CAVA Group stock. The shares were sold at an average price of $67.41, for a total transaction of $1,459,426.50.

CAVA Group Trading Up 0.5%

CAVA stock traded up $0.30 during trading on Thursday, reaching $63.00. The stock had a trading volume of 2,829,528 shares, compared to its average volume of 3,729,937. The stock’s 50 day moving average is $59.13 and its two-hundred day moving average is $64.65. The firm has a market cap of $7.31 billion, a PE ratio of 54.31, a PEG ratio of 4.46 and a beta of 2.41. CAVA Group, Inc. has a 52 week low of $43.41 and a 52 week high of $144.49.

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

Institutional Investors Weigh In On CAVA Group

Several large investors have recently modified their holdings of CAVA. Atlantic Union Bankshares Corp purchased a new position in CAVA Group during the second quarter valued at approximately $31,000. Cornerstone Planning Group LLC increased its holdings in shares of CAVA Group by 378.7% in the 3rd quarter. Cornerstone Planning Group LLC now owns 450 shares of the company’s stock valued at $27,000 after acquiring an additional 356 shares during the period. Fifth Third Bancorp bought a new position in shares of CAVA Group in the 2nd quarter worth $38,000. Whittier Trust Co. lifted its stake in shares of CAVA Group by 60.9% during the 2nd quarter. Whittier Trust Co. now owns 457 shares of the company’s stock worth $38,000 after purchasing an additional 173 shares during the last quarter. Finally, Toth Financial Advisory Corp boosted its position in CAVA Group by 656.7% during the third quarter. Toth Financial Advisory Corp now owns 507 shares of the company’s stock valued at $31,000 after purchasing an additional 440 shares in the last quarter. Institutional investors own 73.15% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have weighed in on the company. The Goldman Sachs Group restated a “neutral” rating and set a $68.00 price target on shares of CAVA Group in a report on Wednesday, November 5th. Argus reduced their target price on shares of CAVA Group from $76.00 to $60.00 and set a “buy” rating on the stock in a research note on Thursday, November 13th. Johnson Rice set a $72.00 price target on CAVA Group in a report on Monday, January 5th. KeyCorp dropped their price objective on CAVA Group from $85.00 to $65.00 and set an “overweight” rating for the company in a report on Wednesday, November 5th. Finally, Morgan Stanley reduced their target price on CAVA Group from $86.00 to $80.00 and set an “equal weight” rating on the stock in a research note on Tuesday, January 20th. One investment 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. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target 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.