Insider Buying: CAVA Group (NYSE:CAVA) Insider Acquires $432,380.00 in Stock

Key Points

• CAVA insider Douglas Thompson purchased 6,500 shares at an average price of $66.52, investing $432,380 and increasing his direct stake by 50.5% to 19,371 shares.
• CAVA shares rose 0.9% to $61.64, while the stock remains well below its 12-month high of $98.79 and trades at a high P/E ratio of 112.08.
• The company exceeded quarterly earnings and revenue estimates, reporting $0.19 in EPS and $368.44 million in revenue, up 31.3% year over year. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $89.44.

CAVA Group, Inc. (NYSE:CAVA - Get Free Report) insider Douglas Thompson acquired 6,500 shares of the company's stock in a transaction that occurred on Monday, August 31st. The stock was acquired at an average price of $66.52 per share, with a total value of $432,380.00. Following the acquisition, the insider directly owned 19,371 shares of the company's stock, valued at approximately $1,288,558.92. This represents a 50.50% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through this link.

CAVA Group Stock Up 0.9%

CAVA Group stock traded up $0.56 during mid-day trading on Wednesday, reaching $61.64. 2,206,910 shares of the company's stock were exchanged, compared to its average volume of 3,344,617. CAVA Group, Inc. has a twelve month low of $43.41 and a twelve month high of $98.79. The company has a market cap of $7.20 billion, a P/E ratio of 112.08, a P/E/G ratio of 5.16 and a beta of 1.74. The company has a fifty day moving average of $69.35 and a 200-day moving average of $77.29.

CAVA Group (NYSE:CAVA - Get Free Report) last posted its quarterly earnings data on Tuesday, August 11th. The company reported $0.19 earnings per share for the quarter, topping analysts' consensus estimates of $0.18 by $0.01. CAVA Group had a return on equity of 8.28% and a net margin of 4.82%.The business had revenue of $368.44 million for the quarter, compared to analyst estimates of $360.09 million. During the same quarter in the prior year, the company earned $0.16 earnings per share. The company's revenue was up 31.3% on a year-over-year basis. Equities research analysts expect that CAVA Group, Inc. will post 0.54 earnings per share for the current fiscal year.

Analyst Ratings Changes

CAVA has been the subject of several recent analyst reports. Wall Street Zen upgraded CAVA Group from a "sell" rating to a "hold" rating in a research note on Sunday, May 24th. Piper Sandler boosted 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. UBS Group raised CAVA Group from a "neutral" rating to a "buy" rating and raised their price objective for the stock from $85.00 to $90.00 in a report on Wednesday, June 10th. Barclays lifted their target price on CAVA Group from $70.00 to $74.00 and gave the stock an "equal weight" rating in a research report on Wednesday, May 20th. Finally, KeyCorp reduced their target price on CAVA Group from $110.00 to $95.00 and set an "overweight" rating for the company in a report on Wednesday, August 12th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and nine have assigned a Hold rating to the stock. Based on data from MarketBeat.com, CAVA Group presently has an average rating of "Moderate Buy" and a consensus price target of $89.44.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Oppenheimer Asset Management Inc. purchased a new position in shares of CAVA Group during the second quarter worth about $1,551,000. Trillium Asset Management LLC acquired a new stake in CAVA Group during the 2nd quarter worth approximately $3,279,000. Prospect Financial Services LLC acquired a new stake in CAVA Group during the 2nd quarter worth approximately $1,348,000. Connor Clark & Lunn Investment Management Ltd. purchased a new position in shares of CAVA Group in the 2nd quarter valued at approximately $6,833,000. Finally, Prime Capital Management Co Ltd grew its stake in shares of CAVA Group by 90.6% in the 4th quarter. Prime Capital Management Co Ltd now owns 1,031,630 shares of the company's stock valued at $60,546,000 after purchasing an additional 490,300 shares during the last quarter. 73.15% of the stock is owned by hedge funds and other institutional investors.

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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