CAVA Group, Inc. (NYSE:CAVA) Insider Jennifer Somers Sells 2,861 Shares of Stock

CAVA Group, Inc. (NYSE:CAVA) insider Jennifer Somers sold 2,861 shares of the firm’s stock in a transaction dated Monday, June 16th. The stock was sold at an average price of $75.16, for a total transaction of $215,032.76. Following the completion of the transaction, the insider now directly owns 137,048 shares in the company, valued at $10,300,527.68. This represents a 2.04% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

CAVA Group Stock Down 0.3%

NYSE:CAVA opened at $74.48 on Thursday. The company’s 50 day moving average is $86.66 and its 200-day moving average is $102.43. CAVA Group, Inc. has a 12 month low of $70.00 and a 12 month high of $172.43. The firm has a market cap of $8.61 billion, a price-to-earnings ratio of 62.06, a P/E/G ratio of 3.50 and a beta of 2.77.

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

Analysts Set New Price Targets

Several research analysts have recently issued reports on the company. Wedbush reissued an “outperform” rating and issued a $150.00 price target on shares of CAVA Group in a research note on Wednesday, February 26th. Robert W. Baird raised their price objective on shares of CAVA Group from $105.00 to $115.00 and gave the company an “outperform” rating in a research report on Friday, May 16th. JPMorgan Chase & Co. upgraded shares of CAVA Group from a “neutral” rating to an “overweight” rating and set a $110.00 target price on the stock in a report on Thursday, March 20th. Bank of America raised their target price on shares of CAVA Group from $112.00 to $121.00 and gave the stock a “buy” rating in a report on Monday, May 19th. Finally, TD Securities reaffirmed a “buy” rating and issued a $120.00 price target on shares of CAVA Group in a report on Friday, May 16th. Five equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $119.88.

Institutional Trading of CAVA Group

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its holdings in CAVA Group by 13.2% during the first quarter. Vanguard Group Inc. now owns 9,065,782 shares of the company’s stock valued at $783,374,000 after purchasing an additional 1,054,180 shares in the last quarter. Jennison Associates LLC grew its holdings in shares of CAVA Group by 246.1% in the 1st quarter. Jennison Associates LLC now owns 8,519,459 shares of the company’s stock worth $736,166,000 after purchasing an additional 6,057,727 shares during the last quarter. FMR LLC increased its position in shares of CAVA Group by 14.1% during the 4th quarter. FMR LLC now owns 3,976,353 shares of the company’s stock worth $448,533,000 after purchasing an additional 491,320 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in CAVA Group by 114.4% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 2,394,561 shares of the company’s stock valued at $206,915,000 after purchasing an additional 1,277,912 shares during the last quarter. Finally, Federated Hermes Inc. grew its stake in CAVA Group by 33.0% during the fourth quarter. Federated Hermes Inc. now owns 1,464,987 shares of the company’s stock worth $165,243,000 after buying an additional 363,814 shares during the last quarter. Institutional investors own 73.15% of the company’s stock.

CAVA Group Company Profile

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.