CAVA Group, Inc. (NYSE:CAVA) Director Sells $93,008,820.60 in Stock

CAVA Group, Inc. (NYSE:CAVA) Director Ronald M. Shaich sold 622,549 shares of the company’s stock in a transaction dated Monday, December 9th. The shares were sold at an average price of $149.40, for a total transaction of $93,008,820.60. Following the transaction, the director now owns 6,307 shares in the company, valued at approximately $942,265.80. The trade was a 99.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink.

CAVA Group Stock Performance

NYSE CAVA opened at $123.99 on Friday. The stock has a market cap of $14.21 billion, a price-to-earnings ratio of 269.54 and a beta of 2.93. The business has a 50 day simple moving average of $137.67 and a 200 day simple moving average of $112.99. CAVA Group, Inc. has a 52-week low of $39.05 and a 52-week high of $172.43.

CAVA Group (NYSE:CAVA) last issued its quarterly earnings data 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. The company had revenue of $243.82 million during the quarter, compared to the consensus estimate of $233.05 million. CAVA Group had a net margin of 5.88% and a return on equity of 9.10%. The firm’s revenue was up 38.9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.06 earnings per share. On average, analysts predict that CAVA Group, Inc. will post 0.5 EPS for the current year.

Institutional Trading of CAVA Group

A number of institutional investors have recently modified their holdings of CAVA. Conway Capital Management Inc. bought a new position in shares of CAVA Group during the third quarter worth about $5,524,000. SpiderRock Advisors LLC grew its stake in shares of CAVA Group by 8.9% during the 3rd quarter. SpiderRock Advisors LLC now owns 479,319 shares of the company’s stock worth $59,364,000 after acquiring an additional 39,319 shares in the last quarter. Xponance Inc. grew 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 acquiring an additional 4,803 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of CAVA Group by 262.8% in the third quarter. Charles Schwab Investment Management Inc. now owns 516,092 shares of the company’s stock worth $63,918,000 after purchasing an additional 373,835 shares in the last quarter. Finally, PFG Investments LLC lifted its position in shares of CAVA Group by 36.8% in 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 in the last quarter. 73.15% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the stock. Argus increased their price objective on shares of CAVA Group from $104.00 to $128.00 and gave the company a “buy” rating in a report on Wednesday, September 11th. Loop Capital increased their price target on CAVA Group from $122.00 to $147.00 and gave the company a “hold” rating in a research note on Thursday, November 14th. Piper Sandler lifted their price objective on CAVA Group from $100.00 to $142.00 and gave the stock a “neutral” rating in a research note on Friday, November 15th. TD Cowen increased their target price on CAVA Group from $130.00 to $150.00 and gave the company a “buy” rating in a research note on Wednesday, November 13th. Finally, UBS Group assumed coverage on CAVA Group in a research report on Friday, September 27th. They set a “neutral” rating and a $135.00 target price for the company. Eight research 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.com, CAVA Group has an average rating of “Moderate Buy” and an average price target of $143.80.

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.