CAVA Group (NYSE:CAVA) CFO Sells $444,377.67 in Stock

CAVA Group, Inc. (NYSE:CAVA) CFO Tricia Tolivar sold 4,969 shares of the business’s stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $89.43, for a total transaction of $444,377.67. Following the completion of the transaction, the chief financial officer owned 234,931 shares in the company, valued at $21,009,879.33. The trade was a 2.07% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

CAVA Group Stock Up 0.9%

Shares of CAVA Group stock traded up $0.79 during mid-day trading on Wednesday, hitting $88.09. The stock had a trading volume of 2,619,620 shares, compared to its average volume of 3,388,191. The firm has a 50-day moving average of $83.87 and a two-hundred day moving average of $73.62. The firm has a market cap of $10.26 billion, a P/E ratio of 169.41, a price-to-earnings-growth ratio of 6.14 and a beta of 1.70. CAVA Group, Inc. has a 12-month low of $43.41 and a 12-month high of $98.79.

CAVA Group (NYSE:CAVA) last released its quarterly earnings results on Tuesday, May 19th. The company reported $0.20 EPS for the quarter, beating the consensus estimate 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. The business’s revenue for the quarter was up 32.1% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.22 EPS. Sell-side analysts expect that CAVA Group, Inc. will post 0.55 earnings per share for the current year.

Hedge Funds Weigh In On CAVA Group

Several hedge funds have recently bought and sold shares of the company. DMC Group LLC lifted its stake in CAVA Group by 3.7% during the 4th quarter. DMC Group LLC now owns 4,426 shares of the company’s stock worth $260,000 after acquiring an additional 157 shares in the last quarter. Modern Wealth Management LLC lifted its stake in CAVA Group by 4.2% during the 1st quarter. Modern Wealth Management LLC now owns 3,907 shares of the company’s stock worth $313,000 after acquiring an additional 158 shares in the last quarter. Bridgewater Associates LP increased its stake in CAVA Group by 2.4% during the 4th quarter. Bridgewater Associates LP now owns 6,827 shares of the company’s stock worth $401,000 after buying an additional 163 shares during the period. Western Pacific Wealth Management LP increased its stake in CAVA Group by 32.5% during the 4th quarter. Western Pacific Wealth Management LP now owns 729 shares of the company’s stock worth $43,000 after buying an additional 179 shares during the period. Finally, Allworth Financial LP increased its stake in 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 period. Institutional investors and hedge funds own 73.15% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently commented on CAVA shares. Benchmark upped their price target on CAVA Group from $80.00 to $110.00 and gave the company a “buy” rating in a research note on Monday, April 20th. Telsey Advisory Group increased their target price on shares of CAVA Group from $92.00 to $95.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 20th. Wolfe Research began coverage on shares of CAVA Group in a research report on Monday, March 9th. They set an “outperform” rating and a $93.00 price target for the company. Barclays boosted their price target on shares of CAVA Group from $70.00 to $74.00 and gave the company an “equal weight” rating in a research note on Wednesday, May 20th. Finally, DA Davidson increased their price objective on shares of CAVA Group from $80.00 to $84.00 and gave the stock a “neutral” rating in a research report on Thursday, May 21st. One investment analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $93.37.

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.