CAVA Group, Inc. (NYSE:CAVA) CEO Brett Schulman Sells 31,856 Shares

CAVA Group, Inc. (NYSE:CAVA - Get Free Report) CEO Brett Schulman sold 31,856 shares of the stock in a transaction on Monday, June 16th. The shares were sold at an average price of $75.16, for a total value of $2,394,296.96. Following the sale, the chief executive officer now owns 792,318 shares in the company, valued at approximately $59,550,620.88. This trade represents a 3.87% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link.

CAVA Group Trading Down 0.3%

Shares of CAVA Group stock traded down $0.23 during trading hours on Wednesday, reaching $74.48. The stock had a trading volume of 2,974,616 shares, compared to its average volume of 3,113,689. The firm has a 50 day simple moving average of $87.01 and a two-hundred day simple moving average of $102.62. The firm has a market capitalization of $8.61 billion, a price-to-earnings ratio of 62.06, a P/E/G 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.

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

Analysts Set New Price Targets

CAVA has been the topic of a number of analyst reports. JPMorgan Chase & Co. raised CAVA Group from a "neutral" rating to an "overweight" rating and set a $110.00 price objective on the stock in a research note on Thursday, March 20th. Loop Capital decreased their price target on shares of CAVA Group from $147.00 to $100.00 and set a "hold" rating on the stock in a research note on Thursday, February 27th. Sanford C. Bernstein upgraded CAVA Group from a "market perform" rating to an "outperform" rating and set a $115.00 target price for the company in a research note on Wednesday, April 23rd. Citigroup raised their price target on CAVA Group from $114.00 to $115.00 and gave the stock a "neutral" rating in a research note on Friday, May 16th. Finally, UBS Group dropped their price objective on shares of CAVA Group from $125.00 to $112.00 and set a "neutral" rating for the company in a research note on Tuesday, May 13th. Five analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $119.88.

Institutional Trading of CAVA Group

Large investors have recently added to or reduced their stakes in the stock. Charles Schwab Investment Management Inc. boosted its position in shares of CAVA Group by 2.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 527,868 shares of the company's stock worth $59,544,000 after buying an additional 11,776 shares during the period. GAMMA Investing LLC boosted its stake 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 CAVA Group during the 4th quarter valued at $2,697,000. Natixis Advisors LLC increased its stake in 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. lifted its holdings in CAVA Group by 46.7% in the 4th quarter. Victory Capital Management Inc. now owns 29,851 shares of the company's stock worth $3,367,000 after buying an additional 9,497 shares in the last quarter. 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.

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.