CAVA Group, Inc. (NYSE:CAVA) CEO Brett Schulman Sells 2,936 Shares of Stock

CAVA Group, Inc. (NYSE:CAVA) CEO Brett Schulman sold 2,936 shares of the business’s stock in a transaction dated Monday, January 27th. The shares were sold at an average price of $124.39, for a total transaction of $365,209.04. Following the completion of the transaction, the chief executive officer now owns 773,433 shares in the company, valued at approximately $96,207,330.87. This trade represents a 0.38 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at 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 Trading Up 7.4 %

NYSE CAVA opened at $135.27 on Thursday. CAVA Group, Inc. has a 12 month low of $46.56 and a 12 month high of $172.43. The company has a market capitalization of $15.50 billion, a PE ratio of 294.06 and a beta of 3.21. The stock has a 50-day simple moving average of $125.38 and a 200 day simple moving average of $119.44.

CAVA Group (NYSE:CAVA) last announced its quarterly earnings results on Tuesday, November 12th. The company reported $0.15 EPS for the quarter, beating analysts’ consensus estimates of $0.11 by $0.04. The company had revenue of $243.82 million during the quarter, compared to analysts’ expectations of $233.05 million. CAVA Group had a return on equity of 9.10% and a net margin of 5.88%. CAVA Group’s revenue was up 38.9% on a year-over-year basis. During the same period in the prior year, the business posted $0.06 EPS. As a group, sell-side analysts predict that CAVA Group, Inc. will post 0.5 earnings per share for the current fiscal year.

Institutional Investors Weigh In On CAVA Group

Several hedge funds have recently bought and sold shares of CAVA. Sovran Advisors LLC bought a new position in CAVA Group in the fourth quarter valued at approximately $2,628,000. Wealthstar Advisors LLC acquired a new position in shares of CAVA Group during the 4th quarter worth approximately $1,164,000. Newbridge Financial Services Group Inc. acquired a new position in CAVA Group during the fourth quarter worth $86,000. Entropy Technologies LP bought a new stake in shares of CAVA Group in the 4th quarter valued at about $2,097,000. Finally, Empowered Funds LLC bought a new stake in CAVA Group in the fourth quarter valued at approximately $5,007,000. 73.15% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have issued reports on CAVA shares. Morgan Stanley boosted their price objective on CAVA Group from $123.00 to $135.00 and gave the stock an “equal weight” rating in a research note on Thursday, November 14th. Citigroup upped their price target on shares of CAVA Group from $140.00 to $163.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 13th. TD Cowen raised their price objective on shares of CAVA Group from $130.00 to $150.00 and gave the company a “buy” rating in a research report on Wednesday, November 13th. Piper Sandler increased their price target on shares of CAVA Group from $100.00 to $142.00 and gave the company a “neutral” rating in a research note on Friday, November 15th. Finally, Sanford C. Bernstein started coverage on shares of CAVA Group in a research report on Wednesday, November 20th. They issued a “market perform” rating and a $145.00 price objective for the company. Eight analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $142.13.

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.