Insider Selling: CAVA Group, Inc. (NYSE:CAVA) Director Sells 622,549 Shares of Stock

CAVA Group, Inc. (NYSE:CAVA - Get Free Report) Director Ronald M. Shaich sold 622,549 shares of the firm's stock in a transaction on Monday, December 9th. The stock was sold at an average price of $149.40, for a total transaction of $93,008,820.60. Following the transaction, the director now directly owns 6,307 shares of the company's stock, valued at approximately $942,265.80. This trade represents a 99.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

CAVA Group Trading Up 0.2 %

CAVA stock traded up $0.20 during midday trading on Wednesday, reaching $127.59. The stock had a trading volume of 2,692,642 shares, compared to its average volume of 2,800,604. CAVA Group, Inc. has a 52-week low of $33.32 and a 52-week high of $172.43. The company's fifty day simple moving average is $137.62 and its 200 day simple moving average is $112.51. The company has a market cap of $14.62 billion, a price-to-earnings ratio of 276.74 and a beta of 2.94.

CAVA Group (NYSE:CAVA - Get Free Report) last released its earnings results on Tuesday, November 12th. The company reported $0.15 earnings per share for the quarter, topping analysts' consensus estimates of $0.11 by $0.04. CAVA Group had a net margin of 5.88% and a return on equity of 9.10%. The business had revenue of $243.82 million for the quarter, compared to analyst estimates of $233.05 million. During the same period last year, the company posted $0.06 EPS. The business's revenue was up 38.9% on a year-over-year basis. Sell-side analysts predict that CAVA Group, Inc. will post 0.5 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on CAVA shares. Piper Sandler lifted their price objective on CAVA Group from $100.00 to $142.00 and gave the company a "neutral" rating in a research note on Friday, November 15th. Citigroup boosted their price target on CAVA Group from $140.00 to $163.00 and gave the company a "neutral" rating in a report on Wednesday, November 13th. Wedbush raised their price objective on shares of CAVA Group from $155.00 to $190.00 and gave the stock an "outperform" rating in a research note on Wednesday, November 13th. Loop Capital boosted their target price on shares of CAVA Group from $122.00 to $147.00 and gave the company a "hold" rating in a research note on Thursday, November 14th. Finally, Morgan Stanley raised their price target on shares of CAVA Group from $123.00 to $135.00 and gave the company an "equal weight" rating in a research report on Thursday, November 14th. Eight investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company's stock. According to data from MarketBeat, CAVA Group has an average rating of "Moderate Buy" and an average target price of $143.80.

Hedge Funds Weigh In On CAVA Group

Institutional investors and hedge funds have recently bought and sold shares of the company. Nemes Rush Group LLC purchased a new stake in CAVA Group in the 2nd quarter valued at about $28,000. GAMMA Investing LLC raised its stake in shares of CAVA Group by 68.3% in the 3rd quarter. GAMMA Investing LLC now owns 308 shares of the company's stock valued at $38,000 after acquiring an additional 125 shares during the period. Mark Sheptoff Financial Planning LLC acquired a new position in shares of CAVA Group in the 2nd quarter worth approximately $36,000. Sunbelt Securities Inc. purchased a new position in shares of CAVA Group during the 3rd quarter worth approximately $50,000. Finally, Headlands Technologies LLC acquired a new stake in CAVA Group in the 2nd quarter valued at approximately $37,000. 73.15% of the stock is currently 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.

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