Kelly Costanza Sells 2,799 Shares of CAVA Group, Inc. (NYSE:CAVA) Stock

CAVA Group, Inc. (NYSE:CAVA - Get Free Report) insider Kelly Costanza sold 2,799 shares of the stock in a transaction on Monday, June 16th. The shares were sold at an average price of $75.16, for a total value of $210,372.84. Following the sale, the insider now owns 122,548 shares in the company, valued at $9,210,707.68. The trade was a 2.23% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link.

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

• On Wednesday, May 21st, Kelly Costanza sold 10,243 shares of CAVA Group stock. The stock was sold at an average price of $86.63, for a total transaction of $887,351.09.

CAVA Group Stock Down 0.3%

NYSE:CAVA 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 1 year low of $70.00 and a 1 year high of $172.43. The stock has a fifty day moving average of $87.01 and a 200-day moving average of $102.62. The firm has a market capitalization of $8.61 billion, a PE 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 released its quarterly earnings data on Thursday, May 15th. The company reported $0.22 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.14 by $0.08. The firm had revenue of $331.83 million for 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 last year, the firm earned $0.12 earnings per share. On average, analysts expect that CAVA Group, Inc. will post 0.5 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on CAVA shares. Stifel Nicolaus lowered their target price on shares of CAVA Group from $175.00 to $125.00 and set a "buy" rating for the company in a report on Wednesday. JPMorgan Chase & Co. upgraded CAVA Group from a "neutral" rating to an "overweight" rating and set a $110.00 target price for the company in a research report on Thursday, March 20th. Wedbush reissued an "outperform" rating and set a $150.00 price target on shares of CAVA Group in a research note on Wednesday, February 26th. Sanford C. Bernstein raised CAVA Group from a "market perform" rating to an "outperform" rating and set a $115.00 price objective on the stock in a research report on Wednesday, April 23rd. Finally, Bank of America increased their target price on CAVA Group from $112.00 to $121.00 and gave the stock a "buy" rating in a research note on Monday, May 19th. Five equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $119.88.

Hedge Funds Weigh In On CAVA Group

A number of large investors have recently added to or reduced their stakes in the company. Voya Investment Management LLC boosted its holdings in CAVA Group by 219.5% in the first quarter. Voya Investment Management LLC now owns 386,330 shares of the company's stock worth $33,383,000 after acquiring an additional 265,416 shares in the last quarter. Cim LLC grew its position in CAVA Group by 2.6% during the 1st quarter. Cim LLC now owns 9,755 shares of the company's stock worth $843,000 after purchasing an additional 247 shares during the last quarter. Strs Ohio acquired a new position in CAVA Group during the 1st quarter valued at approximately $766,000. Advisors Capital Management LLC purchased a new position in shares of CAVA Group in the first quarter worth $1,853,000. Finally, Belpointe Asset Management LLC purchased a new stake in shares of CAVA Group during the first quarter valued at $254,000. 73.15% of the stock is currently owned by institutional investors.

About CAVA Group

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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