Insider Selling: CAVA Group (NYSE:CAVA) Insider Sells $290,826.36 in Stock

CAVA Group, Inc. (NYSE:CAVA) insider Theodoros Xenohristos sold 3,252 shares of the business’s stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $89.43, for a total value of $290,826.36. Following the transaction, the insider directly owned 324,630 shares in the company, valued at $29,031,660.90. This trade represents a 0.99% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Theodoros Xenohristos also recently made the following trade(s):

• On Monday, May 11th, Theodoros Xenohristos sold 9,044 shares of CAVA Group stock. The stock was sold at an average price of $79.75, for a total value of $721,259.00.

CAVA Group Trading Down 0.0%

NYSE CAVA opened at $89.15 on Friday. CAVA Group, Inc. has a 12 month low of $43.41 and a 12 month high of $98.79. The stock has a 50 day moving average of $84.16 and a 200-day moving average of $74.28. The company has a market cap of $10.38 billion, a PE ratio of 171.44, a PEG ratio of 6.11 and a beta of 1.70.

CAVA Group (NYSE:CAVA) last announced its quarterly earnings results on Tuesday, May 19th. The company reported $0.20 EPS for the quarter, beating 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 analysts’ expectations of $360.89 million. During the same quarter last year, the company posted $0.22 earnings per share. The company’s revenue for the quarter was up 32.1% compared to the same quarter last year. As a group, sell-side analysts predict that CAVA Group, Inc. will post 0.55 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts recently issued reports on CAVA shares. Citigroup raised their target price on shares of CAVA Group from $75.00 to $92.00 and gave the company a “neutral” rating in a research note on Monday, May 4th. Barclays boosted their price target on CAVA Group from $70.00 to $74.00 and gave the stock an “equal weight” rating in a research report on Wednesday, May 20th. Piper Sandler upped their price objective on CAVA Group from $85.00 to $92.00 and gave the company an “overweight” rating in a research note on Wednesday, May 20th. Roth Mkm reaffirmed a “buy” rating and issued a $106.00 price objective on shares of CAVA Group in a research report on Wednesday, May 20th. Finally, DA Davidson lifted their target price on CAVA Group from $80.00 to $84.00 and gave the stock a “neutral” rating in a research note on Thursday, May 21st. One analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, CAVA Group currently has an average rating of “Moderate Buy” and a consensus target price of $93.37.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. Los Angeles Capital Management LLC bought a new position in CAVA Group in the 4th quarter valued at about $25,000. Harbor Investment Advisory LLC boosted its holdings in shares of CAVA Group by 347.8% during the fourth quarter. Harbor Investment Advisory LLC now owns 515 shares of the company’s stock worth $30,000 after acquiring an additional 400 shares during the period. TD Private Client Wealth LLC boosted its holdings in shares of CAVA Group by 118.2% during the fourth quarter. TD Private Client Wealth LLC now owns 600 shares of the company’s stock worth $35,000 after acquiring an additional 325 shares during the period. Strategic Investment Solutions Inc. IL acquired a new position in shares of CAVA Group in the third quarter valued at approximately $36,000. Finally, Allworth Financial LP grew its position in shares of CAVA Group by 57.4% in the fourth quarter. Allworth Financial LP now owns 650 shares of the company’s stock valued at $38,000 after purchasing an additional 237 shares during the last quarter. Institutional investors and hedge funds own 73.15% of the company’s stock.

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.