Insider Selling: CAVA Group, Inc. (NYSE:CAVA) Insider Sells 678 Shares of Stock

CAVA Group, Inc. (NYSE:CAVA) insider Kenneth Robert Bertram sold 678 shares of the firm’s stock in a transaction dated Monday, January 27th. The stock was sold at an average price of $124.39, for a total transaction of $84,336.42. Following the completion of the sale, the insider now owns 57,312 shares of the company’s stock, valued at $7,129,039.68. This trade represents a 1.17 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

CAVA Group Stock Performance

NYSE CAVA opened at $134.92 on Friday. The company has a market capitalization of $15.46 billion, a price-to-earnings ratio of 293.31 and a beta of 3.21. The stock has a 50-day moving average of $125.06 and a 200 day moving average of $119.91. CAVA Group, Inc. has a one year low of $46.56 and a one year high of $172.43.

CAVA Group (NYSE:CAVA) last released its quarterly earnings data on Tuesday, November 12th. The company reported $0.15 earnings per share for the quarter, beating the consensus estimate 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 during the quarter, compared to analysts’ expectations of $233.05 million. During the same period in the previous year, the company earned $0.06 earnings per share. The firm’s quarterly revenue was up 38.9% on a year-over-year basis. On average, equities analysts predict that CAVA Group, Inc. will post 0.5 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on CAVA shares. TD Cowen lifted their price target on CAVA Group from $130.00 to $150.00 and gave the company a “buy” rating in a research report on Wednesday, November 13th. Citigroup boosted their target price on shares of CAVA Group from $140.00 to $163.00 and gave the company a “neutral” rating in a report on Wednesday, November 13th. Robert W. Baird increased their price target on shares of CAVA Group from $125.00 to $148.00 and gave the stock an “outperform” rating in a research note on Monday, November 4th. UBS Group dropped their price objective on shares of CAVA Group from $160.00 to $125.00 and set a “neutral” rating on the stock in a research note on Tuesday, January 7th. Finally, Sanford C. Bernstein began coverage on shares of CAVA Group in a research note on Wednesday, November 20th. They set a “market perform” rating and a $145.00 target price for the company. Eight research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $142.13.

Institutional Trading of CAVA Group

Hedge funds have recently bought and sold shares of the company. Conway Capital Management Inc. purchased a new position in CAVA Group in the third quarter worth about $5,524,000. SpiderRock Advisors LLC boosted its holdings in shares of CAVA Group by 8.9% in the third quarter. SpiderRock Advisors LLC now owns 479,319 shares of the company’s stock worth $59,364,000 after buying an additional 39,319 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in CAVA Group by 262.8% during the third quarter. Charles Schwab Investment Management Inc. now owns 516,092 shares of the company’s stock valued at $63,918,000 after buying an additional 373,835 shares during the period. PFG Investments LLC increased its holdings in CAVA Group by 36.8% during the third quarter. PFG Investments LLC now owns 15,907 shares of the company’s stock valued at $1,970,000 after buying an additional 4,275 shares during the last quarter. Finally, Aigen Investment Management LP bought a new position in CAVA Group in the third quarter worth approximately $1,293,000. Hedge funds and other 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.