CAVA Group, Inc. (NYSE:CAVA) Insider Sells $215,032.76 in Stock

CAVA Group, Inc. (NYSE:CAVA - Get Free Report) insider Jennifer Somers sold 2,861 shares of CAVA Group stock in a transaction on Monday, June 16th. The stock was sold at an average price of $75.16, for a total transaction of $215,032.76. Following the transaction, the insider now directly owns 137,048 shares in the company, valued at approximately $10,300,527.68. This represents a 2.04% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

CAVA Group Stock Performance

CAVA Group stock traded down $0.23 during mid-day trading on Wednesday, reaching $74.48. The company's stock had a trading volume of 2,974,619 shares, compared to its average volume of 3,113,689. CAVA Group, Inc. has a 12 month low of $70.00 and a 12 month high of $172.43. The business's 50 day simple moving average is $87.01 and its 200 day simple moving average is $102.62. The company has a market capitalization of $8.61 billion, a price-to-earnings ratio of 62.06, a price-to-earnings-growth ratio of 3.49 and a beta of 2.77.

CAVA Group (NYSE:CAVA - Get Free Report) last posted its quarterly earnings data on Thursday, May 15th. The company reported $0.22 EPS for the quarter, topping analysts' consensus estimates of $0.14 by $0.08. The company had revenue of $331.83 million during 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%. The company's quarterly revenue was up 28.1% on a year-over-year basis. During the same period in the prior year, the business posted $0.12 EPS. As a group, sell-side analysts expect that CAVA Group, Inc. will post 0.5 EPS for the current year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. Jennison Associates LLC grew its holdings in CAVA Group by 246.1% during the first quarter. Jennison Associates LLC now owns 8,519,459 shares of the company's stock worth $736,166,000 after purchasing an additional 6,057,727 shares during the period. Vanguard Group Inc. lifted its position in shares of CAVA Group by 20.4% in the fourth quarter. Vanguard Group Inc. now owns 8,011,602 shares of the company's stock valued at $903,709,000 after buying an additional 1,357,187 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its stake in shares of CAVA Group by 114.4% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 2,394,561 shares of the company's stock worth $206,915,000 after acquiring an additional 1,277,912 shares during the period. Nuveen LLC acquired a new position in shares of CAVA Group during the 1st quarter worth approximately $72,800,000. Finally, Alliancebernstein L.P. raised its stake in CAVA Group by 2,072.1% in the 1st quarter. Alliancebernstein L.P. now owns 852,691 shares of the company's stock valued at $73,681,000 after acquiring an additional 813,434 shares during the period. 73.15% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages recently commented on CAVA. Bank of America raised their price objective on CAVA Group from $112.00 to $121.00 and gave the stock a "buy" rating in a research note on Monday, May 19th. Barclays dropped 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. Citigroup boosted their price objective on CAVA Group from $114.00 to $115.00 and gave the company a "neutral" rating in a research report on Friday, May 16th. William Blair restated an "outperform" rating on shares of CAVA Group in a report on Wednesday, February 26th. Finally, UBS Group cut their price target on shares of CAVA Group from $125.00 to $112.00 and set a "neutral" rating on the stock in a research note on Tuesday, May 13th. Five investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company's stock. According to MarketBeat, CAVA Group presently has a consensus rating of "Moderate Buy" and an average target price of $119.88.

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.

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