CAVA Group (NYSE:CAVA) CAO Sells $67,698.51 in Stock

CAVA Group, Inc. (NYSE:CAVA) CAO Adam David Phillips sold 757 shares of the business’s stock in a transaction on Monday, June 15th. The shares were sold at an average price of $89.43, for a total transaction of $67,698.51. Following the transaction, the chief accounting officer owned 6,848 shares in the company, valued at $612,416.64. The trade was a 9.95% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Adam David Phillips also recently made the following trade(s):

• On Thursday, May 21st, Adam David Phillips sold 5,181 shares of CAVA Group stock. The stock was sold at an average price of $77.14, for a total transaction of $399,662.34.

CAVA Group Trading Down 0.0%

NYSE:CAVA opened at $89.15 on Friday. The stock has a market capitalization of $10.38 billion, a price-to-earnings ratio of 171.44, a PEG ratio of 6.11 and a beta of 1.70. The firm has a fifty day simple moving average of $84.16 and a two-hundred day simple moving average of $74.28. CAVA Group, Inc. has a 12 month low of $43.41 and a 12 month high of $98.79.

CAVA Group (NYSE:CAVA) last posted its quarterly earnings results on Tuesday, May 19th. The company reported $0.20 earnings per share for the quarter, beating the consensus estimate 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 period in the previous year, the firm posted $0.22 earnings per share. The business’s revenue was up 32.1% compared to the same quarter last year. Equities analysts predict that CAVA Group, Inc. will post 0.55 earnings per share for the current fiscal year.

Institutional Investors Weigh In On CAVA Group

Hedge funds and other institutional investors have recently made changes to their positions in the business. Bison Wealth LLC bought a new position in CAVA Group in the 4th quarter valued at about $208,000. Goldman Sachs Group Inc. increased its holdings 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 purchasing an additional 75,828 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in shares of 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 worth $20,447,000 after purchasing an additional 34,860 shares during the last quarter. Brown Advisory Inc. raised its stake in shares of CAVA Group by 9.3% in the second quarter. Brown Advisory Inc. now owns 2,979 shares of the company’s stock worth $251,000 after purchasing an additional 253 shares during the last quarter. Finally, Cresset Asset Management LLC lifted its holdings in shares of 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 purchasing an additional 1,549 shares in the last quarter. 73.15% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the company. Citigroup upped their price target on CAVA Group from $75.00 to $92.00 and gave the stock a “neutral” rating in a research note on Monday, May 4th. Guggenheim assumed coverage on CAVA Group in a research note on Thursday, March 26th. They issued a “buy” rating and a $100.00 price objective for the company. BNP Paribas Exane started coverage on CAVA Group in a report on Monday, March 30th. They set a “neutral” rating and a $91.00 price objective for the company. Piper Sandler upped their target price on CAVA Group from $85.00 to $92.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 20th. Finally, Royal Bank Of Canada increased their target price on CAVA Group from $100.00 to $105.00 and gave the stock an “outperform” rating in a report on Wednesday, May 20th. One analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $93.37.

About CAVA Group

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.