Insider Selling: CAVA Group, Inc. (NYSE:CAVA) CEO Sells 31,856 Shares of Stock

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

CAVA Group Price Performance

Shares of CAVA traded up $0.29 during mid-day trading on Friday, reaching $74.74. The company's stock had a trading volume of 4,395,256 shares, compared to its average volume of 3,121,765. CAVA Group, Inc. has a 12-month low of $70.00 and a 12-month high of $172.43. The stock has a market cap of $8.64 billion, a PE ratio of 62.29, a price-to-earnings-growth ratio of 3.49 and a beta of 2.77. The company's 50 day moving average is $86.07 and its 200 day moving average is $101.19.

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 (EPS) for the quarter, topping analysts' consensus estimates of $0.14 by $0.08. The firm had revenue of $331.83 million for the quarter, compared to the consensus estimate of $327.98 million. CAVA Group had a return on equity of 10.61% and a net margin of 13.70%. The firm's quarterly revenue was up 28.1% compared to the same quarter last year. During the same quarter last year, the business posted $0.12 EPS. As a group, sell-side analysts anticipate that CAVA Group, Inc. will post 0.5 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Arcadia Investment Management Corp MI purchased a new position in CAVA Group during the 4th quarter worth approximately $25,000. Allworth Financial LP grew its stake in shares of CAVA Group by 369.2% in the 4th quarter. Allworth Financial LP now owns 244 shares of the company's stock valued at $30,000 after purchasing an additional 192 shares during the last quarter. Larson Financial Group LLC grew its stake in shares of CAVA Group by 274.0% in the 4th quarter. Larson Financial Group LLC now owns 273 shares of the company's stock valued at $31,000 after purchasing an additional 200 shares during the last quarter. Whittier Trust Co. grew its stake in shares of CAVA Group by 80.9% in the 4th quarter. Whittier Trust Co. now owns 284 shares of the company's stock valued at $32,000 after purchasing an additional 127 shares during the last quarter. Finally, First Horizon Advisors Inc. grew its stake in shares of CAVA Group by 1,400.0% in the 1st quarter. First Horizon Advisors Inc. now owns 285 shares of the company's stock valued at $25,000 after purchasing an additional 266 shares during the last quarter. Hedge funds and other institutional investors own 73.15% of the company's stock.

Wall Street Analyst Weigh In

CAVA has been the topic of a number of analyst reports. Citigroup increased their price target on CAVA Group from $114.00 to $115.00 and gave the company a "neutral" rating in a research report on Friday, May 16th. Barclays reduced their price target on CAVA Group from $104.00 to $90.00 and set an "equal weight" rating on the stock in a research report on Tuesday, April 22nd. Stifel Nicolaus reduced their price target on CAVA Group from $175.00 to $125.00 and set a "buy" rating on the stock in a research report on Wednesday. JPMorgan Chase & Co. raised CAVA Group from a "neutral" rating to an "overweight" rating and set a $110.00 price target on the stock in a research report on Thursday, March 20th. Finally, Wedbush reaffirmed an "outperform" rating and issued a $150.00 price target on shares of CAVA Group in a research report on Wednesday, February 26th. Five equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat.com, CAVA Group currently has a consensus rating of "Moderate Buy" and a consensus price target of $119.88.

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.