CAVA Group (NYSE:CAVA) Stock Price Down 4% Following Insider Selling

CAVA Group, Inc. (NYSE:CAVA)’s stock price dropped 4% during mid-day trading on Thursday following insider selling activity. The company traded as low as $110.97 and last traded at $113.65. Approximately 2,089,841 shares traded hands during mid-day trading, a decline of 26% from the average daily volume of 2,812,667 shares. The stock had previously closed at $118.44.

Specifically, Director Theodoros Xenohristos sold 98,490 shares of the company’s stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $125.77, for a total transaction of $12,387,087.30. Following the completion of the transaction, the director now directly owns 424,846 shares of the company’s stock, valued at approximately $53,432,881.42. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CFO Tricia K. Tolivar sold 5,000 shares of the business’s stock in a transaction on Monday, August 26th. The stock was sold at an average price of $125.64, for a total transaction of $628,200.00. Following the completion of the sale, the chief financial officer now directly owns 292,600 shares of the company’s stock, valued at approximately $36,762,264. The disclosure for this sale can be found here. In other CAVA Group news, CEO Brett Schulman sold 201,504 shares of the company’s stock in a transaction on Monday, August 26th. The shares were sold at an average price of $125.53, for a total transaction of $25,294,797.12. Following the completion of the transaction, the chief executive officer now directly owns 702,590 shares in the company, valued at $88,196,122.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the company. Jefferies Financial Group increased their target price on CAVA Group from $94.00 to $117.00 and gave the company a “buy” rating in a report on Friday, August 23rd. Morgan Stanley lowered shares of CAVA Group from an “overweight” rating to an “equal weight” rating and raised their target price for the stock from $90.00 to $110.00 in a research note on Thursday. TD Cowen raised their target price on CAVA Group from $95.00 to $115.00 and gave the stock a “buy” rating in a research note on Friday, August 23rd. Piper Sandler cut shares of CAVA Group from an “overweight” rating to a “neutral” rating and boosted their price target for the company from $63.00 to $92.00 in a research report on Thursday, May 30th. Finally, Wedbush upped their price objective on shares of CAVA Group from $100.00 to $120.00 and gave the company an “outperform” rating in a report on Friday, August 23rd. Seven research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $106.75.

CAVA Group Stock Performance

The firm has a market capitalization of $13.00 billion, a PE ratio of 278.12 and a beta of 3.27. The business’s 50 day moving average price is $92.21 and its 200-day moving average price is $78.10.

CAVA Group (NYSE:CAVA) last announced its earnings results on Thursday, August 22nd. The company reported $0.17 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.13 by $0.04. CAVA Group had a return on equity of 5.18% and a net margin of 3.75%. The company had revenue of $233.50 million for the quarter, compared to analyst estimates of $219.47 million. During the same quarter in the previous year, the company earned $0.21 earnings per share. The firm’s quarterly revenue was up 35.1% compared to the same quarter last year. As a group, analysts anticipate that CAVA Group, Inc. will post 0.34 earnings per share for the current year.

Hedge Funds Weigh In On CAVA Group

Several institutional investors have recently bought and sold shares of CAVA. Montag A & Associates Inc. acquired a new position in shares of CAVA Group in the fourth quarter valued at approximately $26,000. Jamison Private Wealth Management Inc. purchased a new position in CAVA Group in the 2nd quarter valued at approximately $28,000. Nemes Rush Group LLC acquired a new position in shares of CAVA Group in the second quarter worth $28,000. CWM LLC increased its position in shares of CAVA Group by 101.2% during the first quarter. CWM LLC now owns 505 shares of the company’s stock worth $35,000 after acquiring an additional 254 shares during the period. Finally, Mark Sheptoff Financial Planning LLC purchased a new position in CAVA Group in the second quarter valued at approximately $36,000. 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.