CAVA Group, Inc. (NYSE:CAVA) CAO Sells $76,499.85 in Stock

CAVA Group, Inc. (NYSE:CAVA) CAO Adam David Phillips sold 615 shares of the stock in a transaction on Monday, January 27th. The shares were sold at an average price of $124.39, for a total transaction of $76,499.85. Following the completion of the sale, the chief accounting officer now owns 10,884 shares of the company’s stock, valued at approximately $1,353,860.76. This represents a 5.35 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

CAVA Group Trading Down 2.9 %

NYSE CAVA opened at $134.92 on Friday. The company has a market cap of $15.46 billion, a price-to-earnings ratio of 293.31 and a beta of 3.21. CAVA Group, Inc. has a 1-year low of $46.56 and a 1-year high of $172.43. The company has a 50 day moving average of $125.06 and a 200-day moving average of $119.91.

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

Institutional Investors Weigh In On CAVA Group

Large investors have recently bought and sold shares of the company. Atria Wealth Solutions Inc. raised its position in shares of CAVA Group by 19.6% in the 4th quarter. Atria Wealth Solutions Inc. now owns 7,606 shares of the company’s stock valued at $858,000 after buying an additional 1,245 shares in the last quarter. Truist Financial Corp lifted its stake in CAVA Group by 28.8% during the fourth quarter. Truist Financial Corp now owns 6,423 shares of the company’s stock worth $725,000 after purchasing an additional 1,437 shares during the last quarter. CIBC Asset Management Inc boosted its holdings in shares of CAVA Group by 5.3% in the 4th quarter. CIBC Asset Management Inc now owns 3,461 shares of the company’s stock valued at $390,000 after purchasing an additional 174 shares in the last quarter. Sanctuary Advisors LLC increased its stake in shares of CAVA Group by 19.2% in the 4th quarter. Sanctuary Advisors LLC now owns 22,335 shares of the company’s stock valued at $2,519,000 after purchasing an additional 3,597 shares during the last quarter. Finally, State of New Jersey Common Pension Fund D raised its holdings in shares of CAVA Group by 36.8% during the 4th quarter. State of New Jersey Common Pension Fund D now owns 29,897 shares of the company’s stock worth $3,372,000 after buying an additional 8,035 shares in the last quarter. 73.15% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on CAVA shares. Stifel Nicolaus raised their target price on shares of CAVA Group from $118.00 to $175.00 and gave the company a “buy” rating in a research note on Wednesday, November 13th. Loop Capital boosted their target price on CAVA Group from $122.00 to $147.00 and gave the stock a “hold” rating in a report on Thursday, November 14th. Barclays cut their price target on CAVA Group from $142.00 to $127.00 and set an “equal weight” rating for the company in a report on Tuesday, January 7th. Wedbush upped their price objective on shares of CAVA Group from $155.00 to $190.00 and gave the company an “outperform” rating in a report on Wednesday, November 13th. Finally, Morgan Stanley raised their target price on shares of CAVA Group from $123.00 to $135.00 and gave the stock an “equal weight” rating in a research note on Thursday, November 14th. Eight equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to 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.