CAVA Group, Inc. (NYSE:CAVA) CEO Brett Schulman Sells 20,564 Shares of Stock

CAVA Group, Inc. (NYSE:CAVA) CEO Brett Schulman sold 20,564 shares of the firm’s stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $119.18, for a total value of $2,450,817.52. Following the completion of the sale, the chief executive officer now directly owns 776,369 shares of the company’s stock, valued at $92,527,657.42. This represents a 2.58 % 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.

CAVA Group Trading Up 0.6 %

CAVA Group stock opened at $124.14 on Friday. CAVA Group, Inc. has a 12 month low of $44.80 and a 12 month high of $172.43. The firm has a market cap of $14.22 billion, a price-to-earnings ratio of 269.87 and a beta of 3.21. The stock has a fifty day simple moving average of $126.66 and a two-hundred day simple moving average of $118.09.

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

Hedge Funds Weigh In On CAVA Group

Several institutional investors have recently bought and sold shares of the stock. Conway Capital Management Inc. purchased a new stake in shares of CAVA Group in the third quarter valued at $5,524,000. SpiderRock Advisors LLC raised its stake in CAVA Group by 8.9% in the third quarter. SpiderRock Advisors LLC now owns 479,319 shares of the company’s stock worth $59,364,000 after buying an additional 39,319 shares in the last quarter. Xponance Inc. lifted its stake in shares of CAVA Group by 95.2% during the 2nd quarter. Xponance Inc. now owns 9,846 shares of the company’s stock worth $913,000 after purchasing an additional 4,803 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of CAVA Group by 262.8% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 516,092 shares of the company’s stock worth $63,918,000 after acquiring an additional 373,835 shares in the last quarter. Finally, PFG Investments LLC lifted its holdings in shares of CAVA Group by 36.8% during the 3rd quarter. PFG Investments LLC now owns 15,907 shares of the company’s stock valued at $1,970,000 after purchasing an additional 4,275 shares during the last quarter. 73.15% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

CAVA has been the subject of several recent research reports. Robert W. Baird lifted their price objective on CAVA Group from $125.00 to $148.00 and gave the stock an “outperform” rating in a report on Monday, November 4th. Citigroup lifted their target price on shares of CAVA Group from $140.00 to $163.00 and gave the stock a “neutral” rating in a research note on Wednesday, November 13th. Sanford C. Bernstein initiated coverage on shares of CAVA Group in a research note on Wednesday, November 20th. They set a “market perform” rating and a $145.00 price target on the stock. Piper Sandler lifted their price objective 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, 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. Eight investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $142.13.

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.