CAVA Group, Inc. (NYSE:CAVA) CEO Sells $365,209.04 in Stock

CAVA Group, Inc. (NYSE:CAVA) CEO Brett Schulman sold 2,936 shares of the firm’s stock in a transaction on Monday, January 27th. The stock was sold at an average price of $124.39, for a total value of $365,209.04. Following the completion of the sale, the chief executive officer now directly owns 773,433 shares of the company’s stock, valued at $96,207,330.87. This represents a 0.38 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Brett Schulman also recently made the following trade(s):

• On Tuesday, January 21st, Brett Schulman sold 20,564 shares of CAVA Group stock. The stock was sold at an average price of $119.18, for a total value of $2,450,817.52.

CAVA Group Stock Up 2.6 %

NYSE CAVA opened at $138.89 on Friday. The stock’s 50-day simple moving average is $125.26 and its two-hundred day simple moving average is $119.58. CAVA Group, Inc. has a twelve month low of $46.56 and a twelve month high of $172.43. The company has a market capitalization of $15.91 billion, a price-to-earnings ratio of 301.94 and a beta of 3.21.

CAVA Group (NYSE:CAVA) last posted its quarterly earnings results on Tuesday, November 12th. The company reported $0.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.11 by $0.04. CAVA Group had a return on equity of 9.10% and a net margin of 5.88%. The business had revenue of $243.82 million for the quarter, compared to analyst estimates of $233.05 million. During the same period last year, the company earned $0.06 EPS. CAVA Group’s revenue for the quarter was up 38.9% compared to the same quarter last year. On average, equities analysts expect that CAVA Group, Inc. will post 0.5 earnings per share for the current fiscal year.

Analyst Ratings Changes

CAVA has been the subject of a number of research reports. Wedbush increased their target price on shares of CAVA Group from $155.00 to $190.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 13th. William Blair reiterated an “outperform” rating on shares of CAVA Group in a research note on Wednesday, November 13th. TD Cowen increased their target price on CAVA Group from $130.00 to $150.00 and gave the stock a “buy” rating in a research report on Wednesday, November 13th. Piper Sandler lifted their price target on CAVA Group from $100.00 to $142.00 and gave the company a “neutral” rating in a research report on Friday, November 15th. Finally, Citigroup boosted their price objective on CAVA Group from $140.00 to $163.00 and gave the company a “neutral” rating in a research note on Wednesday, November 13th. Eight investment 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, the company has an average rating of “Moderate Buy” and an average target price of $142.13.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the company. FMR LLC grew its holdings in CAVA Group by 0.9% in the 3rd quarter. FMR LLC now owns 3,485,033 shares of the company’s stock worth $431,621,000 after acquiring an additional 29,668 shares during the last quarter. Jennison Associates LLC boosted its holdings in shares of CAVA Group by 36,658.7% during the fourth quarter. Jennison Associates LLC now owns 2,461,732 shares of the company’s stock worth $277,683,000 after purchasing an additional 2,455,035 shares during the period. Two Sigma Advisers LP boosted its holdings in shares of CAVA Group by 17.0% during the third quarter. Two Sigma Advisers LP now owns 2,210,900 shares of the company’s stock worth $273,820,000 after purchasing an additional 321,800 shares during the period. Lord Abbett & CO. LLC grew its stake in shares of CAVA Group by 1.5% in the third quarter. Lord Abbett & CO. LLC now owns 1,358,250 shares of the company’s stock worth $168,219,000 after purchasing an additional 19,493 shares during the last quarter. Finally, State Street Corp increased its holdings in CAVA Group by 33.3% during the 3rd quarter. State Street Corp now owns 1,267,333 shares of the company’s stock valued at $156,959,000 after purchasing an additional 316,514 shares during the period. 73.15% of the stock is owned by hedge funds and other institutional investors.

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.