Insider Selling: CAVA Group, Inc. (NYSE:CAVA) Director Sells 20,972 Shares of Stock

CAVA Group, Inc. (NYSE:CAVA) Director Karen Kochevar sold 20,972 shares of the business’s stock in a transaction dated Monday, June 17th. The shares were sold at an average price of $93.60, for a total value of $1,962,979.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

CAVA Group Stock Performance

NYSE:CAVA opened at $95.39 on Wednesday. The firm has a market cap of $10.88 billion and a PE ratio of 232.66. CAVA Group, Inc. has a fifty-two week low of $29.05 and a fifty-two week high of $96.93. The business has a 50 day moving average price of $76.94 and a 200-day moving average price of $60.39.

CAVA Group (NYSE:CAVA) last released its quarterly earnings data on Tuesday, May 28th. The company reported $0.12 earnings per share for the quarter, beating analysts’ consensus estimates of $0.04 by $0.08. The firm had revenue of $259.01 million during the quarter, compared to analyst estimates of $246.02 million. CAVA Group had a return on equity of 5.18% and a net margin of 3.75%. The business’s revenue for the quarter was up 27.5% on a year-over-year basis. Research analysts predict that CAVA Group, Inc. will post 0.34 EPS for the current year.

Wall Street Analyst Weigh In

CAVA has been the topic of several analyst reports. TD Cowen upped their price target on CAVA Group from $90.00 to $95.00 and gave the company a “buy” rating in a research report on Thursday, June 13th. Wedbush upped their price target on CAVA Group from $74.00 to $90.00 and gave the company an “outperform” rating in a research report on Wednesday, May 29th. JPMorgan Chase & Co. cut CAVA Group from an “overweight” rating to a “neutral” rating and set a $77.00 price target on the stock. in a research report on Monday, June 3rd. Piper Sandler cut CAVA Group from an “overweight” rating to a “neutral” rating and upped their price target for the company from $63.00 to $92.00 in a research report on Thursday, May 30th. Finally, Robert W. Baird boosted their price objective on CAVA Group from $90.00 to $92.00 and gave the stock an “outperform” rating in a report on Wednesday, May 29th. Six analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, CAVA Group has a consensus rating of “Moderate Buy” and a consensus price target of $81.50.

Hedge Funds Weigh In On CAVA Group

A number of hedge funds and other institutional investors have recently made changes to their positions in CAVA. Montag A & Associates Inc. bought a new position in shares of CAVA Group during the fourth quarter valued at approximately $26,000. PNC Financial Services Group Inc. raised its holdings in CAVA Group by 190.0% in the third quarter. PNC Financial Services Group Inc. now owns 870 shares of the company’s stock worth $27,000 after purchasing an additional 570 shares in the last quarter. Clearstead Advisors LLC bought a new position in CAVA Group in the third quarter worth $31,000. CWM LLC raised its holdings in CAVA Group by 101.2% in the first quarter. CWM LLC now owns 505 shares of the company’s stock worth $35,000 after purchasing an additional 254 shares in the last quarter. Finally, American International Group Inc. raised its holdings in CAVA Group by 194.2% in the first quarter. American International Group Inc. now owns 709 shares of the company’s stock worth $50,000 after purchasing an additional 468 shares in the last quarter. 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.