CAVA Group (NYSE:CAVA) Insider Sells $256,664.10 in Stock

Key Points

• CAVA insider Kelly Costanza sold shares worth about $256,664 on June 15 at an average price of $89.43, leaving her with 110,980 shares after the transaction. The company said the sale was to cover tax withholding obligations tied to vesting equity awards.
• CAVA’s stock has been performing near its highs, trading around $88.09 with a 52-week range of $43.41 to $98.79. The company has a market cap of about $10.26 billion and remains volatile, with a beta of 1.70.
• Recent fundamentals and analyst sentiment remain positive after CAVA beat quarterly EPS and revenue expectations, with revenue up 32.1% year over year. Analysts currently rate the stock a consensus Moderate Buy with a price target of $93.37.

CAVA Group, Inc. (NYSE:CAVA - Get Free Report) insider Kelly Costanza sold 2,870 shares of the business's stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $89.43, for a total transaction of $256,664.10. Following the completion of the transaction, the insider owned 110,980 shares in the company, valued at $9,924,941.40. The trade was a 2.52% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Kelly Costanza also recently made the following trade(s):

• On Wednesday, June 17th, Kelly Costanza sold 12,490 shares of CAVA Group stock. The stock was sold at an average price of $90.00, for a total transaction of $1,124,100.00.
• On Thursday, May 21st, Kelly Costanza sold 10,010 shares of CAVA Group stock. The shares were sold at an average price of $79.87, for a total value of $799,498.70.

CAVA Group Price Performance

CAVA traded up $0.79 during midday trading on Wednesday, reaching $88.09. 2,619,620 shares of the company's stock traded hands, compared to its average volume of 3,388,191. CAVA Group, Inc. has a 52 week low of $43.41 and a 52 week high of $98.79. The firm has a fifty day moving average of $83.87 and a two-hundred day moving average of $73.62. The stock has a market capitalization of $10.26 billion, a price-to-earnings ratio of 169.41, a P/E/G ratio of 6.14 and a beta of 1.70.

CAVA Group (NYSE:CAVA - Get Free Report) last posted its earnings results on Tuesday, May 19th. The company reported $0.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.17 by $0.03. The firm had revenue of $438.27 million for the quarter, compared to analysts' expectations of $360.89 million. CAVA Group had a return on equity of 7.92% and a net margin of 4.79%.The business's revenue was up 32.1% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.22 earnings per share. Sell-side analysts forecast that CAVA Group, Inc. will post 0.55 EPS for the current year.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Los Angeles Capital Management LLC bought a new stake in CAVA Group in the fourth quarter worth $25,000. Harbor Investment Advisory LLC increased its holdings in shares of CAVA Group by 347.8% during the fourth quarter. Harbor Investment Advisory LLC now owns 515 shares of the company's stock valued at $30,000 after acquiring an additional 400 shares in the last quarter. Strategic Investment Solutions Inc. IL purchased a new position in shares of CAVA Group in the 3rd quarter worth about $36,000. TD Private Client Wealth LLC boosted its stake in CAVA Group by 118.2% in the 4th quarter. TD Private Client Wealth LLC now owns 600 shares of the company's stock worth $35,000 after purchasing an additional 325 shares in the last quarter. Finally, EverSource Wealth Advisors LLC boosted its stake in CAVA Group by 115.7% in the 4th quarter. EverSource Wealth Advisors LLC now owns 647 shares of the company's stock worth $38,000 after purchasing an additional 347 shares in the last quarter. Hedge funds and other institutional investors own 73.15% of the company's stock.

Analyst Ratings Changes

Several equities research analysts recently weighed in on CAVA shares. Robert W. Baird lifted their price target on CAVA Group from $88.00 to $98.00 and gave the company an "outperform" rating in a research report on Wednesday, May 20th. Weiss Ratings raised CAVA Group from a "hold (c-)" rating to a "hold (c)" rating in a research report on Wednesday, May 20th. Wall Street Zen upgraded shares of CAVA Group from a "sell" rating to a "hold" rating in a report on Sunday, May 24th. Wolfe Research began coverage on shares of CAVA Group in a research report on Monday, March 9th. They issued an "outperform" rating and a $93.00 target price on the stock. Finally, Citigroup increased their price target on shares of CAVA Group from $75.00 to $92.00 and gave the stock a "neutral" rating in a research note on Monday, May 4th. One analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $93.37.

About CAVA Group

CAVA Group, Inc NYSE: CAVA is a leading fast-casual restaurant company specializing in Mediterranean-inspired cuisine. Operating under the CAVA brand, the company offers customizable bowls, pitas and salads built around a variety of proteins, grains, fresh vegetables and house-made spreads. With a focus on high-quality ingredients and made-to-order preparation, CAVA aims to deliver a casual yet elevated dining experience for dine-in, takeout and catering customers.

Founded in 2011 in the Washington, DC metro area by Ike Grigoropoulos, Dimitri Katsanis and Brett Schulman, CAVA has pursued an aggressive growth strategy that included the 2018 acquisition of Zoe's Kitchen.

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