Adam David Phillips Sells 615 Shares of CAVA Group, Inc. (NYSE:CAVA) Stock

CAVA Group, Inc. (NYSE:CAVA) CAO Adam David Phillips sold 615 shares of the company’s stock in a transaction on Monday, January 27th. The shares were sold at an average price of $124.39, for a total transaction of $76,499.85. Following the transaction, the chief accounting officer now owns 10,884 shares of the company’s stock, valued at approximately $1,353,860.76. The trade was a 5.35 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

CAVA Group Stock Up 2.6 %

Shares of NYSE:CAVA opened at $138.89 on Friday. CAVA Group, Inc. has a 12 month low of $46.56 and a 12 month high of $172.43. The company’s 50-day moving average price is $125.26 and its two-hundred day moving average price is $119.58. The firm has a market cap of $15.91 billion, a P/E ratio of 301.94 and a beta of 3.21.

CAVA Group (NYSE:CAVA) last issued its quarterly earnings data on Tuesday, November 12th. The company reported $0.15 EPS for the quarter, topping analysts’ consensus estimates of $0.11 by $0.04. CAVA Group had a net margin of 5.88% and a return on equity of 9.10%. The firm had revenue of $243.82 million for the quarter, compared to analyst estimates of $233.05 million. During the same quarter in the prior year, the firm earned $0.06 EPS. The company’s revenue was up 38.9% on a year-over-year basis. As a group, equities analysts predict that CAVA Group, Inc. will post 0.5 earnings per share for the current fiscal year.

Institutional Investors Weigh In On CAVA Group

A number of hedge funds have recently added to or reduced their stakes in the stock. FMR LLC lifted its position in CAVA Group by 0.9% during the 3rd quarter. FMR LLC now owns 3,485,033 shares of the company’s stock valued at $431,621,000 after purchasing an additional 29,668 shares during the period. Jennison Associates LLC lifted its position in CAVA Group by 36,658.7% during the 4th quarter. Jennison Associates LLC now owns 2,461,732 shares of the company’s stock valued at $277,683,000 after purchasing an additional 2,455,035 shares during the period. Two Sigma Advisers LP lifted its position in CAVA Group by 17.0% during the 3rd quarter. Two Sigma Advisers LP now owns 2,210,900 shares of the company’s stock valued at $273,820,000 after purchasing an additional 321,800 shares during the period. Lord Abbett & CO. LLC lifted its position in CAVA Group by 1.5% during the 3rd quarter. Lord Abbett & CO. LLC now owns 1,358,250 shares of the company’s stock valued at $168,219,000 after purchasing an additional 19,493 shares during the period. Finally, State Street Corp lifted its position in CAVA Group by 33.3% during the 3rd quarter. State Street Corp now owns 1,267,333 shares of the company’s stock valued at $156,959,000 after purchasing an additional 316,514 shares during the period. Institutional investors own 73.15% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently commented on CAVA shares. Loop Capital upped their target price on shares of CAVA Group from $122.00 to $147.00 and gave the company a “hold” rating in a research note on Thursday, November 14th. Barclays dropped their price objective on shares of CAVA Group from $142.00 to $127.00 and set an “equal weight” rating for the company in a research note on Tuesday, January 7th. Citigroup increased their price objective on shares of CAVA Group from $140.00 to $163.00 and gave the company a “neutral” rating in a research note on Wednesday, November 13th. JPMorgan Chase & Co. increased their price objective on shares of CAVA Group from $90.00 to $110.00 and gave the company a “neutral” rating in a research note on Wednesday, November 13th. Finally, UBS Group dropped their price objective on shares of CAVA Group from $160.00 to $125.00 and set a “neutral” rating for the company in a research note on Tuesday, January 7th. Eight investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $142.13.

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.