Insider Selling: CAVA Group, Inc. (NYSE:CAVA) Insider Sells 678 Shares of Stock

CAVA Group, Inc. (NYSE:CAVA) insider Kenneth Robert Bertram sold 678 shares of the firm’s stock in a transaction that occurred on Monday, January 27th. The stock was sold at an average price of $124.39, for a total transaction of $84,336.42. Following the completion of the sale, the insider now directly owns 57,312 shares in the company, valued at $7,129,039.68. This represents a 1.17 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

CAVA Group Trading Up 7.4 %

CAVA opened at $135.27 on Thursday. CAVA Group, Inc. has a twelve month low of $46.56 and a twelve month high of $172.43. The firm has a market cap of $15.50 billion, a price-to-earnings ratio of 294.06 and a beta of 3.21. The company has a fifty day simple moving average of $125.38 and a 200 day simple moving average of $119.44.

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

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on CAVA. William Blair reiterated an “outperform” rating on shares of CAVA Group in a report on Wednesday, November 13th. Piper Sandler lifted their target price on CAVA Group from $100.00 to $142.00 and gave the company a “neutral” rating in a report on Friday, November 15th. Loop Capital upped their price target on CAVA Group from $122.00 to $147.00 and gave the stock a “hold” rating in a research note on Thursday, November 14th. Sanford C. Bernstein started coverage on CAVA Group in a research note on Wednesday, November 20th. They issued a “market perform” rating and a $145.00 price objective on the stock. Finally, 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. Eight research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $142.13.

Hedge Funds Weigh In On CAVA Group

A number of institutional investors have recently made changes to their positions in the business. Conway Capital Management Inc. bought a new stake in shares of CAVA Group in the third quarter worth $5,524,000. SpiderRock Advisors LLC increased its position in shares of CAVA Group by 8.9% in the 3rd quarter. SpiderRock Advisors LLC now owns 479,319 shares of the company’s stock worth $59,364,000 after purchasing an additional 39,319 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of CAVA Group by 262.8% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 516,092 shares of the company’s stock valued at $63,918,000 after purchasing an additional 373,835 shares in the last quarter. PFG Investments LLC lifted its position in shares of CAVA Group by 36.8% during the third quarter. PFG Investments LLC now owns 15,907 shares of the company’s stock worth $1,970,000 after purchasing an additional 4,275 shares during the last quarter. Finally, Aigen Investment Management LP acquired a new position in CAVA Group in the third quarter worth about $1,293,000. 73.15% of the stock is owned by institutional investors and hedge funds.

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.