Tricia K. Tolivar Sells 5,949 Shares of CAVA Group, Inc. (NYSE:CAVA) Stock

CAVA Group, Inc. (NYSE:CAVA) CFO Tricia K. Tolivar sold 5,949 shares of the stock in a transaction on Monday, July 1st. The stock was sold at an average price of $94.47, for a total value of $562,002.03. Following the sale, the chief financial officer now owns 297,600 shares in the company, valued at approximately $28,114,272. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

CAVA Group Price Performance

Shares of CAVA Group stock opened at $94.87 on Thursday. The company has a market capitalization of $10.82 billion and a P/E ratio of 231.40. The business has a 50-day moving average of $83.79 and a two-hundred day moving average of $64.56. CAVA Group, Inc. has a 1 year low of $29.05 and a 1 year high of $97.64.

CAVA Group (NYSE:CAVA) last issued its quarterly earnings data on Tuesday, May 28th. The company reported $0.12 earnings per share (EPS) for the quarter, beating 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 business had revenue of $259.01 million during the quarter, compared to analyst estimates of $246.02 million. CAVA Group’s quarterly revenue was up 27.5% compared to the same quarter last year. On average, equities analysts anticipate that CAVA Group, Inc. will post 0.34 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have weighed in on CAVA. JPMorgan Chase & Co. cut shares of CAVA Group from an “overweight” rating to a “neutral” rating and set a $77.00 price objective for the company. in a research report on Monday, June 3rd. Wedbush raised their price target on shares of CAVA Group from $74.00 to $90.00 and gave the company an “outperform” rating in a report on Wednesday, May 29th. Jefferies Financial Group upped their price objective on CAVA Group from $72.00 to $94.00 and gave the stock a “buy” rating in a report on Wednesday, May 29th. Morgan Stanley lifted their target price on CAVA Group from $68.00 to $85.00 and gave the company an “overweight” rating in a research note on Wednesday, May 29th. Finally, Piper Sandler lowered 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 note on Thursday, May 30th. Six equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $81.50.

Hedge Funds Weigh In On CAVA Group

A number of large investors have recently bought and sold shares of the company. PNC Financial Services Group Inc. increased its position in CAVA Group by 190.0% during the third quarter. PNC Financial Services Group Inc. now owns 870 shares of the company’s stock worth $27,000 after buying an additional 570 shares during the last quarter. Swiss National Bank acquired a new stake in CAVA Group during the 4th quarter valued at $1,926,000. CHURCHILL MANAGEMENT Corp acquired a new stake in CAVA Group during the 1st quarter valued at $3,213,000. Stephens Inc. AR acquired a new position in shares of CAVA Group in the fourth quarter valued at $1,014,000. Finally, Virtu Financial LLC bought a new position in shares of CAVA Group in the fourth quarter valued at about $240,000. Institutional investors and hedge funds own 73.15% of the company’s stock.

About CAVA Group

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.