CAVA Group, Inc. (NYSE:CAVA) Director Theodoros Xenohristos Sells 47,239 Shares of Stock

CAVA Group, Inc. (NYSE:CAVA) Director Theodoros Xenohristos sold 47,239 shares of the stock in a transaction dated Tuesday, March 26th. The stock was sold at an average price of $68.29, for a total transaction of $3,225,951.31. Following the transaction, the director now directly owns 526,521 shares in the company, valued at approximately $35,956,119.09. The transaction was disclosed in a filing with the SEC, which is available through this link.

CAVA Group Stock Performance

CAVA stock opened at $70.05 on Friday. The firm’s 50-day moving average price is $56.32 and its two-hundred day moving average price is $42.93. CAVA Group, Inc. has a 12-month low of $29.05 and a 12-month high of $71.50.

CAVA Group (NYSE:CAVA) last announced its quarterly earnings results on Monday, February 26th. The company reported $0.02 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.01 by $0.01. CAVA Group had a net margin of 1.82% and a return on equity of 4.28%. The company had revenue of $175.50 million for the quarter, compared to analysts’ expectations of $240.03 million. The business’s quarterly revenue was up 52.6% compared to the same quarter last year. Equities research analysts anticipate that CAVA Group, Inc. will post 0.24 earnings per share for the current fiscal year.

Institutional Investors Weigh In On CAVA Group

Several hedge funds have recently bought and sold shares of the business. Public Employees Retirement System of Ohio boosted its stake in CAVA Group by 2.8% during the fourth quarter. Public Employees Retirement System of Ohio now owns 6,763 shares of the company’s stock worth $291,000 after acquiring an additional 185 shares in the last quarter. PNC Financial Services Group Inc. boosted its stake in CAVA Group by 190.0% during the third quarter. PNC Financial Services Group Inc. now owns 870 shares of the company’s stock worth $27,000 after acquiring an additional 570 shares in the last quarter. Nuveen Asset Management LLC boosted its stake in CAVA Group by 1.4% during the fourth quarter. Nuveen Asset Management LLC now owns 42,679 shares of the company’s stock worth $1,834,000 after acquiring an additional 570 shares in the last quarter. Montag A & Associates Inc. bought a new stake in CAVA Group during the fourth quarter worth about $26,000. Finally, Headlands Technologies LLC bought a new stake in CAVA Group during the third quarter worth about $26,000. Institutional investors own 73.15% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the stock. Piper Sandler increased their price objective on shares of CAVA Group from $46.00 to $63.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 28th. Wedbush restated an “outperform” rating and set a $65.00 price target (up previously from $59.00) on shares of CAVA Group in a research note on Tuesday, February 27th. JPMorgan Chase & Co. raised their price target on shares of CAVA Group from $50.00 to $64.00 and gave the stock an “overweight” rating in a research note on Tuesday, March 19th. William Blair reiterated an “outperform” rating on shares of CAVA Group in a research note on Tuesday, February 27th. Finally, Morgan Stanley raised their price target on shares of CAVA Group from $49.00 to $62.00 and gave the company an “overweight” rating in a report on Wednesday, February 28th. Four research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $56.50.

About CAVA Group

CAVA Group, Inc owns and operates a chain of restaurants under the CAVA brand in the United States. The company also offers dips, spreads, and dressings through grocery stores. In addition, the company provides online and mobile ordering platforms. Cava Group, Inc was founded in 2006 and is headquartered in Washington, the District of Columbia.