CAVA Group (NYSE:CAVA) CEO Sells $2,966,750.82 in Stock

CAVA Group, Inc. (NYSE:CAVA) CEO Brett Schulman sold 33,174 shares of CAVA Group stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $89.43, for a total transaction of $2,966,750.82. Following the completion of the sale, the chief executive officer owned 798,669 shares in the company, valued at approximately $71,424,968.67. This trade represents a 3.99% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

CAVA Group Stock Down 0.0%

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

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

Analysts Set New Price Targets

Several analysts recently commented on CAVA shares. Weiss Ratings upgraded CAVA Group from a “hold (c-)” rating to a “hold (c)” rating in a research report on Wednesday, May 20th. Royal Bank Of Canada raised their price objective on CAVA Group from $100.00 to $105.00 and gave the company an “outperform” rating in a report on Wednesday, May 20th. Barclays upped their target price on shares of CAVA Group from $70.00 to $74.00 and gave the stock an “equal weight” rating in a report on Wednesday, May 20th. Citigroup increased their target price on shares of CAVA Group from $75.00 to $92.00 and gave the company a “neutral” rating in a research report on Monday, May 4th. Finally, The Goldman Sachs Group raised their price target on shares of CAVA Group from $75.00 to $86.00 and gave the stock a “neutral” rating in a research note on Monday, April 13th. One research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, CAVA Group presently has a consensus rating of “Moderate Buy” and an average price target of $93.37.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Los Angeles Capital Management LLC acquired a new position in shares of CAVA Group during the 4th quarter valued at about $25,000. Harbor Investment Advisory LLC increased its position in 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 purchasing an additional 400 shares during the last quarter. TD Private Client Wealth LLC increased its position in 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 purchasing an additional 325 shares during the last quarter. Strategic Investment Solutions Inc. IL purchased a new position in CAVA Group during the third quarter worth about $36,000. Finally, Allworth Financial LP raised its stake in CAVA Group by 57.4% during the fourth quarter. Allworth Financial LP now owns 650 shares of the company’s stock worth $38,000 after purchasing an additional 237 shares during the period. Hedge funds and other institutional investors 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.