CAVA Group (NYSE:CAVA) Insider Sells $290,826.36 in Stock

Key Points

• Insider sale: CAVA Group insider Theodoros Xenohristos sold 3,252 shares for about $290,826 at an average price of $89.43. The filing says the sale was to cover tax withholding obligations tied to vesting equity awards.
• Strong quarterly results: CAVA recently reported earnings of $0.20 per share, beating estimates of $0.17, and revenue of $438.27 million, well above expectations. Revenue rose 32.1% year over year.
• Analyst sentiment remains positive: Several brokerages raised targets or ratings, and the stock carries a consensus Moderate Buy rating with an average price target of $93.37. Shares were trading around $88.09, near the upper end of their 12-month range.

CAVA Group, Inc. (NYSE:CAVA - Get Free Report) insider Theodoros Xenohristos sold 3,252 shares of CAVA Group stock in a transaction on Monday, June 15th. The stock was sold at an average price of $89.43, for a total value of $290,826.36. Following the transaction, the insider owned 324,630 shares in the company, valued at approximately $29,031,660.90. This represents a 0.99% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Theodoros Xenohristos also recently made the following trade(s):

• On Monday, May 11th, Theodoros Xenohristos sold 9,044 shares of CAVA Group stock. The shares were sold at an average price of $79.75, for a total transaction of $721,259.00.

CAVA Group Stock Up 0.9%

Shares of CAVA Group stock traded up $0.79 during mid-day trading on Wednesday, hitting $88.09. The stock had a trading volume of 2,619,620 shares, compared to its average volume of 3,388,191. The firm has a market cap of $10.26 billion, a P/E ratio of 169.41, a price-to-earnings-growth ratio of 6.14 and a beta of 1.70. The firm has a 50-day moving average of $83.87 and a two-hundred day moving average of $73.62. CAVA Group, Inc. has a 12-month low of $43.41 and a 12-month high of $98.79.

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

Wall Street Analyst Weigh In

A number of brokerages have weighed in on CAVA. Piper Sandler lifted their price target on shares of CAVA Group from $85.00 to $92.00 and gave the company an "overweight" rating in a research report on Wednesday, May 20th. Guggenheim initiated coverage on shares of CAVA Group in a research report on Thursday, March 26th. They set a "buy" rating and a $100.00 price objective for the company. Weiss Ratings upgraded shares of CAVA Group from a "hold (c-)" rating to a "hold (c)" rating in a report on Wednesday, May 20th. UBS Group raised CAVA Group from a "neutral" rating to a "buy" rating and boosted their target price for the company from $85.00 to $90.00 in a research report on Wednesday, June 10th. Finally, The Goldman Sachs Group raised their price target on CAVA Group from $75.00 to $86.00 and gave the stock a "neutral" rating in a research report on Monday, April 13th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, CAVA Group presently has an average rating of "Moderate Buy" and a consensus target price of $93.37.

Institutional Investors Weigh In On CAVA Group

Several large investors have recently added to or reduced their stakes in CAVA. Vanguard Group Inc. lifted its holdings in CAVA Group by 3.5% during the 3rd quarter. Vanguard Group Inc. now owns 9,345,976 shares of the company's stock worth $564,590,000 after buying an additional 313,938 shares in the last quarter. Capital Research Global Investors boosted its position in CAVA Group by 27.2% in the 4th quarter. Capital Research Global Investors now owns 8,440,040 shares of the company's stock valued at $495,344,000 after buying an additional 1,805,174 shares during the period. Capital International Investors grew its stake in shares of CAVA Group by 15.5% in the fourth quarter. Capital International Investors now owns 4,885,317 shares of the company's stock worth $286,718,000 after acquiring an additional 656,581 shares in the last quarter. Morgan Stanley increased its position in shares of CAVA Group by 33.7% during the fourth quarter. Morgan Stanley now owns 3,318,894 shares of the company's stock worth $194,786,000 after acquiring an additional 835,628 shares during the period. Finally, Alliancebernstein L.P. increased its position in shares of CAVA Group by 118.3% during the third quarter. Alliancebernstein L.P. now owns 2,953,688 shares of the company's stock worth $178,432,000 after acquiring an additional 1,600,630 shares during the period. 73.15% of the stock is owned by hedge funds and other institutional investors.

CAVA Group Company Profile

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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