Karen Kochevar Sells 10,000 Shares of CAVA Group (NYSE:CAVA) Stock

CAVA Group, Inc. (NYSE:CAVA) Director Karen Kochevar sold 10,000 shares of the firm’s stock in a transaction on Thursday, June 18th. The stock was sold at an average price of $90.00, for a total value of $900,000.00. Following the sale, the director directly owned 3,074 shares in the company, valued at $276,660. The trade was a 76.49% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

CAVA Group Trading Up 6.0%

NYSE:CAVA opened at $82.19 on Thursday. CAVA Group, Inc. has a 1 year low of $43.41 and a 1 year high of $98.79. The stock has a market cap of $9.57 billion, a price-to-earnings ratio of 158.07, a PEG ratio of 5.32 and a beta of 1.70. The stock has a 50-day moving average price of $83.88 and a two-hundred day moving average price of $75.00.

CAVA Group (NYSE:CAVA) last announced its quarterly earnings results on Tuesday, May 19th. The company reported $0.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.17 by $0.03. The company had revenue of $438.27 million during the quarter, compared to the consensus estimate of $360.89 million. CAVA Group had a return on equity of 7.92% and a net margin of 4.79%.The company’s revenue for the quarter was up 32.1% compared to the same quarter last year. During the same period in the prior year, the company earned $0.22 earnings per share. Sell-side analysts forecast that CAVA Group, Inc. will post 0.55 earnings per share for the current year.

Institutional Trading of CAVA Group

A number of institutional investors have recently made changes to their positions in CAVA. Los Angeles Capital Management LLC bought a new position in CAVA Group in the fourth quarter valued at $25,000. Harbor Investment Advisory LLC increased its stake in CAVA Group by 347.8% in the 4th quarter. Harbor Investment Advisory LLC now owns 515 shares of the company’s stock valued at $30,000 after buying an additional 400 shares during the last quarter. TD Private Client Wealth LLC lifted its position in CAVA Group by 118.2% during the 4th quarter. TD Private Client Wealth LLC now owns 600 shares of the company’s stock worth $35,000 after buying an additional 325 shares in the last quarter. Strategic Investment Solutions Inc. IL bought a new stake in CAVA Group during the 3rd quarter worth about $36,000. Finally, Allworth Financial LP boosted its stake in shares of CAVA Group by 57.4% during the 4th quarter. Allworth Financial LP now owns 650 shares of the company’s stock worth $38,000 after buying an additional 237 shares during the last quarter. Institutional investors own 73.15% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently issued reports on CAVA. Citigroup increased their target price on CAVA Group from $75.00 to $92.00 and gave the stock a “neutral” rating in a research note on Monday, May 4th. Roth Mkm reiterated a “buy” rating and issued a $106.00 price target on shares of CAVA Group in a report on Wednesday, May 20th. Robert W. Baird increased their price objective on shares of CAVA Group from $88.00 to $98.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 20th. Morgan Stanley increased their price objective on shares of CAVA Group from $85.00 to $86.00 and gave the stock an “equal weight” rating in a research report on Wednesday, May 20th. Finally, Mizuho boosted their price objective on shares of CAVA Group from $72.00 to $80.00 and gave the company a “neutral” rating in a research report on Thursday, April 2nd. One analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $93.37.

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.