Insider Selling: CAVA Group (NYSE:CAVA) Insider Sells 12,490 Shares of Stock

Key Points

• Insider sale: CAVA Group insider Kelly Costanza sold 12,490 shares at $90.00 each, totaling about $1.12 million. The sale reduced her direct holdings by 11.25% and was made to cover tax withholding tied to equity award vesting.
• Recent trading activity: Costanza also sold 2,870 shares on June 15 and 10,010 shares on May 21, continuing a string of insider sales over the past several weeks.
• Business and stock backdrop: CAVA shares rose to $88.09 and are trading near their 52-week high, while the company recently beat earnings and revenue estimates. Analysts remain generally positive, with a consensus rating of Moderate Buy and an average price target of $93.37.

CAVA Group, Inc. (NYSE:CAVA - Get Free Report) insider Kelly Costanza sold 12,490 shares of the company's stock in a transaction dated Wednesday, June 17th. The shares were sold at an average price of $90.00, for a total transaction of $1,124,100.00. Following the sale, the insider directly owned 98,490 shares of the company's stock, valued at approximately $8,864,100. This represents a 11.25% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 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 Monday, June 15th, Kelly Costanza sold 2,870 shares of CAVA Group stock. The stock was sold at an average price of $89.43, for a total transaction of $256,664.10.
• On Thursday, May 21st, Kelly Costanza sold 10,010 shares of CAVA Group stock. The stock was sold at an average price of $79.87, for a total value of $799,498.70.

CAVA Group Stock Performance

Shares of CAVA stock traded up $0.79 during trading hours on Wednesday, reaching $88.09. The company had a trading volume of 2,619,620 shares, compared to its average volume of 3,388,191. The stock has a fifty day moving average of $83.87 and a 200-day moving average of $73.62. The company has a market capitalization of $10.26 billion, a price-to-earnings ratio of 169.41, a PEG ratio of 6.14 and a beta of 1.70. 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 posted its quarterly earnings results on Tuesday, May 19th. The company reported $0.20 EPS 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 business had revenue of $438.27 million for the quarter, compared to analyst estimates of $360.89 million. During the same quarter in the previous year, the firm earned $0.22 EPS. The company's quarterly revenue was up 32.1% compared to the same quarter last year. On average, analysts forecast that CAVA Group, Inc. will post 0.55 EPS for the current year.

Wall Street Analysts Forecast Growth

CAVA has been the topic of a number of research analyst reports. Wall Street Zen upgraded CAVA Group from a "sell" rating to a "hold" rating in a research report on Sunday, May 24th. 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 research report on Wednesday, June 10th. Morgan Stanley boosted their price objective on shares of CAVA Group from $85.00 to $86.00 and gave the company an "equal weight" rating in a report on Wednesday, May 20th. Telsey Advisory Group upped their target price on shares of CAVA Group from $92.00 to $95.00 and gave the company an "outperform" rating in a research report on Wednesday, May 20th. Finally, Sanford C. Bernstein reiterated an "outperform" rating and set a $95.00 price target on shares of CAVA Group in a research report on Wednesday, May 20th. One analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $93.37.

Hedge Funds Weigh In On CAVA Group

Institutional investors have recently bought and sold shares of the company. Capital International Investors boosted its position in CAVA Group by 105.4% in the 3rd quarter. Capital International Investors now owns 4,228,736 shares of the company's stock valued at $255,451,000 after buying an additional 2,169,553 shares during the period. William Blair Investment Management LLC purchased a new stake in shares of CAVA Group during the third quarter worth $114,098,000. Capital Research Global Investors increased its position in shares of CAVA Group by 27.2% during the fourth quarter. Capital Research Global Investors now owns 8,440,040 shares of the company's stock worth $495,344,000 after acquiring an additional 1,805,174 shares during the period. Alliancebernstein L.P. raised its stake in shares of CAVA Group by 118.3% in the third quarter. Alliancebernstein L.P. now owns 2,953,688 shares of the company's stock valued at $178,432,000 after acquiring an additional 1,600,630 shares in the last quarter. Finally, Marshall Wace LLP raised its stake in shares of CAVA Group by 689.8% in the fourth quarter. Marshall Wace LLP now owns 1,387,774 shares of the company's stock valued at $81,448,000 after acquiring an additional 1,212,068 shares in the last quarter. 73.15% of the stock is owned by institutional investors and hedge funds.

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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