CAVA Group (NYSE:CAVA) Insider Buys $432,380.00 in Stock

CAVA Group, Inc. (NYSE:CAVA) insider Douglas Thompson acquired 6,500 shares of the stock in a transaction that occurred on Monday, August 31st. The stock was purchased at an average price of $66.52 per share, for a total transaction of $432,380.00. Following the completion of the transaction, the insider owned 19,371 shares in the company, valued at $1,288,558.92. The trade was a 50.50% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this link.

CAVA Group Stock Performance

CAVA Group stock traded up $0.56 during trading hours on Wednesday, reaching $61.64. 2,206,910 shares of the stock were exchanged, compared to its average volume of 3,344,617. CAVA Group, Inc. has a 52-week low of $43.41 and a 52-week high of $98.79. The stock has a market cap of $7.20 billion, a P/E ratio of 112.08, a P/E/G ratio of 5.16 and a beta of 1.74. The firm’s 50 day moving average is $69.35 and its 200 day moving average is $77.29.

CAVA Group (NYSE:CAVA) last issued its earnings results on Tuesday, August 11th. The company reported $0.19 earnings per share for the quarter, beating the consensus estimate of $0.18 by $0.01. CAVA Group had a net margin of 4.82% and a return on equity of 8.28%. The business had revenue of $368.44 million for the quarter, compared to the consensus estimate of $360.09 million. During the same quarter in the previous year, the firm earned $0.16 earnings per share. The business’s quarterly revenue was up 31.3% compared to the same quarter last year. Equities research analysts expect that CAVA Group, Inc. will post 0.54 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have issued reports on CAVA. KeyCorp cut their target price on CAVA Group from $110.00 to $95.00 and set an “overweight” rating for the company in a research note on Wednesday, August 12th. Guggenheim decreased their price target on CAVA Group from $100.00 to $95.00 and set a “buy” rating on the stock in a research note on Thursday, August 13th. Morgan Stanley upgraded CAVA Group from an “equal weight” rating to an “overweight” rating and increased their price objective for the stock from $86.00 to $90.00 in a research report on Wednesday, July 15th. Northcoast Research raised CAVA Group from a “sell” rating to a “neutral” rating in a report on Thursday, August 13th. Finally, Stifel Nicolaus upped their price target on shares of CAVA Group from $90.00 to $105.00 and gave the stock a “buy” rating in a research note on Wednesday, May 20th. One research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and nine have issued a Hold rating to the company’s stock. According to data from MarketBeat, CAVA Group has a consensus rating of “Moderate Buy” and an average target price of $89.44.

Institutional Investors Weigh In On CAVA Group

A number of institutional investors and hedge funds have recently modified their holdings of the company. BlackRock Inc. acquired a new position in CAVA Group during the second quarter worth $757,013,000. California State Teachers Retirement System grew its holdings in CAVA Group by 7,511.4% in the second quarter. California State Teachers Retirement System now owns 8,436,678 shares of the company’s stock valued at $662,110,000 after purchasing an additional 8,325,836 shares during the last quarter. Capital Research Global Investors increased its position in shares of CAVA Group by 27.2% in the fourth quarter. Capital Research Global Investors now owns 8,440,040 shares of the company’s stock valued at $495,344,000 after buying an additional 1,805,174 shares in the last quarter. Marshall Wace LLP increased its position in shares of CAVA Group by 689.8% in the fourth quarter. Marshall Wace LLP now owns 1,387,774 shares of the company’s stock valued at $81,448,000 after buying an additional 1,212,068 shares in the last quarter. Finally, Primecap Management Co. CA acquired a new position in shares of CAVA Group during the 2nd quarter worth $92,956,000. Institutional investors and hedge funds own 73.15% of the company’s stock.

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.