CAVA Group, Inc. (NYSE:CAVA) CAO Sells $55,543.24 in Stock

CAVA Group, Inc. (NYSE:CAVA) CAO Adam David Phillips sold 739 shares of the stock in a transaction on Monday, June 16th. The shares were sold at an average price of $75.16, for a total value of $55,543.24. Following the completion of the transaction, the chief accounting officer now directly owns 11,063 shares of the company’s stock, valued at approximately $831,495.08. This represents a 6.26% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

CAVA Group Stock Down 0.3%

NYSE:CAVA opened at $74.48 on Thursday. The stock’s 50 day moving average price is $86.66 and its 200 day moving average price is $102.43. The company has a market capitalization of $8.61 billion, a PE ratio of 62.06, a P/E/G ratio of 3.50 and a beta of 2.77. CAVA Group, Inc. has a 52-week low of $70.00 and a 52-week high of $172.43.

CAVA Group (NYSE:CAVA) last released its quarterly earnings results on Thursday, May 15th. The company reported $0.22 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.14 by $0.08. The firm had revenue of $331.83 million for the quarter, compared to the consensus estimate of $327.98 million. CAVA Group had a return on equity of 10.61% and a net margin of 13.70%. The firm’s quarterly revenue was up 28.1% compared to the same quarter last year. During the same quarter last year, the business posted $0.12 EPS. As a group, sell-side analysts anticipate that CAVA Group, Inc. will post 0.5 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the company. Utah Retirement Systems grew its stake in shares of CAVA Group by 2.5% in the 4th quarter. Utah Retirement Systems now owns 4,100 shares of the company’s stock valued at $462,000 after purchasing an additional 100 shares during the last quarter. Whittier Trust Co. grew its stake in shares of CAVA Group by 80.9% in the 4th quarter. Whittier Trust Co. now owns 284 shares of the company’s stock valued at $32,000 after purchasing an additional 127 shares during the last quarter. Mainstream Capital Management LLC grew its stake in shares of CAVA Group by 0.7% in the 4th quarter. Mainstream Capital Management LLC now owns 17,758 shares of the company’s stock valued at $2,003,000 after purchasing an additional 132 shares during the last quarter. Whittier Trust Co. of Nevada Inc. grew its stake in shares of CAVA Group by 37.3% in the 1st quarter. Whittier Trust Co. of Nevada Inc. now owns 530 shares of the company’s stock valued at $46,000 after purchasing an additional 144 shares during the last quarter. Finally, Miracle Mile Advisors LLC grew its stake in shares of CAVA Group by 1.9% in the 1st quarter. Miracle Mile Advisors LLC now owns 8,247 shares of the company’s stock valued at $713,000 after purchasing an additional 150 shares during the last quarter. Hedge funds and other institutional investors own 73.15% of the company’s stock.

Wall Street Analysts Forecast Growth

CAVA has been the topic of a number of recent research reports. Wedbush restated an “outperform” rating and set a $150.00 price target on shares of CAVA Group in a research report on Wednesday, February 26th. TD Securities reissued a “buy” rating and set a $120.00 target price on shares of CAVA Group in a research note on Friday, May 16th. Sanford C. Bernstein raised CAVA Group from a “market perform” rating to an “outperform” rating and set a $115.00 target price on the stock in a research note on Wednesday, April 23rd. Bank of America increased their target price on CAVA Group from $112.00 to $121.00 and gave the stock a “buy” rating in a research note on Monday, May 19th. Finally, Robert W. Baird increased their target price on CAVA Group from $105.00 to $115.00 and gave the stock an “outperform” rating in a research note on Friday, May 16th. Five research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $119.88.

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.