CAVA Group, Inc. (NYSE:CAVA) Insider Kenneth Robert Bertram Sells 5,250 Shares

CAVA Group, Inc. (NYSE:CAVA) insider Kenneth Robert Bertram sold 5,250 shares of the company’s stock in a transaction on Tuesday, June 18th. The shares were sold at an average price of $95.28, for a total value of $500,220.00. Following the sale, the insider now directly owns 67,005 shares of the company’s stock, valued at $6,384,236.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

CAVA Group Price Performance

Shares of CAVA stock opened at $95.39 on Wednesday. CAVA Group, Inc. has a fifty-two week low of $29.05 and a fifty-two week high of $96.93. The stock’s 50-day moving average is $76.94 and its two-hundred day moving average is $60.39. The firm has a market cap of $10.88 billion and a P/E ratio of 232.66.

CAVA Group (NYSE:CAVA) last issued its earnings results on Tuesday, May 28th. The company reported $0.12 earnings per share for the quarter, topping the consensus estimate of $0.04 by $0.08. CAVA Group had a return on equity of 5.18% and a net margin of 3.75%. The company had revenue of $259.01 million for the quarter, compared to analyst estimates of $246.02 million. CAVA Group’s revenue was up 27.5% on a year-over-year basis. As a group, research analysts expect that CAVA Group, Inc. will post 0.34 EPS for the current year.

Analyst Ratings Changes

Several equities research analysts have recently commented on CAVA shares. Wedbush upped their target price on CAVA Group from $74.00 to $90.00 and gave the company an “outperform” rating in a report on Wednesday, May 29th. TD Cowen upped their target price on CAVA Group from $90.00 to $95.00 and gave the company a “buy” rating in a report on Thursday, June 13th. Robert W. Baird increased their price objective on CAVA Group from $90.00 to $92.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 29th. JPMorgan Chase & Co. downgraded CAVA Group from an “overweight” rating to a “neutral” rating and set a $77.00 price objective for the company. in a research note on Monday, June 3rd. Finally, Piper Sandler downgraded CAVA Group from an “overweight” rating to a “neutral” rating and increased their price objective for the stock from $63.00 to $92.00 in a research note on Thursday, May 30th. Six analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat.com, CAVA Group has a consensus rating of “Moderate Buy” and a consensus price target of $81.50.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Barclays PLC increased its holdings in shares of CAVA Group by 80.0% during the 3rd quarter. Barclays PLC now owns 10,982 shares of the company’s stock valued at $335,000 after acquiring an additional 4,882 shares during the last quarter. Amalgamated Bank acquired a new position in shares of CAVA Group during the 3rd quarter valued at about $103,000. Janney Montgomery Scott LLC acquired a new position in shares of CAVA Group during the 3rd quarter valued at about $480,000. State Board of Administration of Florida Retirement System acquired a new position in shares of CAVA Group during the 3rd quarter valued at about $449,000. Finally, PNC Financial Services Group Inc. increased its holdings in shares of CAVA Group by 190.0% during the 3rd quarter. PNC Financial Services Group Inc. now owns 870 shares of the company’s stock valued at $27,000 after acquiring an additional 570 shares during the last quarter. 73.15% of the stock is owned by institutional investors and hedge funds.

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.