Adam David Phillips Sells 739 Shares of CAVA Group, Inc. (NYSE:CAVA) Stock

CAVA Group, Inc. (NYSE:CAVA - Get Free Report) CAO Adam David Phillips sold 739 shares of the firm's stock in a transaction that occurred on Monday, June 16th. The stock was sold at an average price of $75.16, for a total transaction of $55,543.24. Following the sale, the chief accounting officer now owns 11,063 shares in the company, valued at approximately $831,495.08. This trade represents a 6.26% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink.

CAVA Group Trading Down 0.3%

CAVA stock traded down $0.23 during midday trading on Wednesday, reaching $74.48. The company had a trading volume of 2,974,635 shares, compared to its average volume of 3,113,691. The company has a market capitalization of $8.61 billion, a P/E ratio of 62.06, a PEG ratio of 3.49 and a beta of 2.77. CAVA Group, Inc. has a 1 year low of $70.00 and a 1 year high of $172.43. The company has a 50 day moving average of $87.01 and a two-hundred day moving average of $102.62.

CAVA Group (NYSE:CAVA - Get Free Report) last released its quarterly earnings results on Thursday, May 15th. The company reported $0.22 earnings per share for the quarter, beating analysts' consensus estimates of $0.14 by $0.08. The business had revenue of $331.83 million for the quarter, compared to the consensus estimate of $327.98 million. CAVA Group had a net margin of 13.70% and a return on equity of 10.61%. CAVA Group's revenue for the quarter was up 28.1% on a year-over-year basis. During the same quarter last year, the firm earned $0.12 EPS. On average, sell-side analysts anticipate that CAVA Group, Inc. will post 0.5 earnings per share for the current year.

Analysts Set New Price Targets

Several equities research analysts have commented on CAVA shares. Loop Capital dropped their price target on CAVA Group from $147.00 to $100.00 and set a "hold" rating for the company in a research note on Thursday, February 27th. Barclays decreased their price objective on shares of CAVA Group from $104.00 to $90.00 and set an "equal weight" rating for the company in a research report on Tuesday, April 22nd. William Blair restated an "outperform" rating on shares of CAVA Group in a report on Wednesday, February 26th. Robert W. Baird increased their target price on CAVA Group from $105.00 to $115.00 and gave the company an "outperform" rating in a research note on Friday, May 16th. Finally, Stifel Nicolaus decreased their price target on shares of CAVA Group from $175.00 to $125.00 and set a "buy" rating for the company in a research report on Wednesday. Five research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $119.88.

Institutional Trading of CAVA Group

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Charles Schwab Investment Management Inc. raised its stake in shares of CAVA Group by 2.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 527,868 shares of the company's stock valued at $59,544,000 after acquiring an additional 11,776 shares in the last quarter. GAMMA Investing LLC raised its position in shares of CAVA Group by 17,386.7% in the first quarter. GAMMA Investing LLC now owns 73,794 shares of the company's stock valued at $6,377,000 after purchasing an additional 73,372 shares during the period. Proficio Capital Partners LLC acquired a new stake in shares of CAVA Group in the fourth quarter worth $2,697,000. Natixis Advisors LLC boosted its holdings in shares of CAVA Group by 54.1% during the 4th quarter. Natixis Advisors LLC now owns 16,922 shares of the company's stock worth $1,909,000 after buying an additional 5,940 shares during the period. Finally, Victory Capital Management Inc. grew its stake in CAVA Group by 46.7% in the 4th quarter. Victory Capital Management Inc. now owns 29,851 shares of the company's stock valued at $3,367,000 after buying an additional 9,497 shares during the last quarter. Institutional investors and hedge funds own 73.15% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.