Insider Selling: CAVA Group (NYSE:CAVA) Director Sells $900,000.00 in 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 transaction of $900,000.00. Following the completion of the sale, the director owned 3,074 shares in the company, valued at approximately $276,660. The trade was a 76.49% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link.

CAVA Group Trading Up 1.3%

Shares of CAVA stock opened at $83.30 on Friday. The firm has a market capitalization of $9.70 billion, a P/E ratio of 160.20, a price-to-earnings-growth ratio of 5.64 and a beta of 1.70. CAVA Group, Inc. has a 1 year low of $43.41 and a 1 year high of $98.79. The firm’s fifty day simple moving average is $83.78 and its 200 day simple moving average is $75.21.

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

Analyst Ratings Changes

A number of equities research analysts recently weighed in on CAVA shares. JPMorgan Chase & Co. lifted their target price on CAVA Group from $80.00 to $90.00 and gave the stock an “overweight” rating in a research report on Friday, April 24th. UBS Group raised CAVA Group from a “neutral” rating to a “buy” rating and upped their price target for the company from $85.00 to $90.00 in a report on Wednesday, June 10th. Barclays raised their price objective on CAVA Group from $70.00 to $74.00 and gave the stock an “equal weight” rating in a research report on Wednesday, May 20th. Royal Bank Of Canada lifted their price objective on CAVA Group from $100.00 to $105.00 and gave the stock an “outperform” rating in a report on Wednesday, May 20th. Finally, Benchmark boosted their price objective on CAVA Group from $80.00 to $110.00 and gave the company a “buy” rating in a research report on Monday, April 20th. One 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 stock. Based on data from MarketBeat, CAVA Group presently has an average rating of “Moderate Buy” and an average target price of $93.37.

Institutional Trading of CAVA Group

Several institutional investors have recently bought and sold shares of CAVA. Los Angeles Capital Management LLC acquired a new position in CAVA Group during the fourth quarter worth $25,000. Harbor Investment Advisory LLC lifted its holdings in shares of CAVA Group by 347.8% during the fourth quarter. Harbor Investment Advisory LLC now owns 515 shares of the company’s stock valued at $30,000 after acquiring an additional 400 shares during the period. TD Private Client Wealth LLC boosted its stake in shares of CAVA Group by 118.2% in the 4th quarter. TD Private Client Wealth LLC now owns 600 shares of the company’s stock valued at $35,000 after purchasing an additional 325 shares in the last quarter. Strategic Investment Solutions Inc. IL acquired a new stake in shares of CAVA Group in the 3rd quarter valued at $36,000. Finally, Allworth Financial LP grew its holdings in shares of CAVA Group by 57.4% in the 4th quarter. Allworth Financial LP now owns 650 shares of the company’s stock worth $38,000 after purchasing an additional 237 shares during the last quarter. 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.