Kenneth Robert Bertram Sells 2,198 Shares of CAVA Group, Inc. (NYSE:CAVA) Stock

CAVA Group, Inc. (NYSE:CAVA - Get Free Report) insider Kenneth Robert Bertram sold 2,198 shares of the stock in a transaction that occurred on Monday, June 16th. The stock was sold at an average price of $75.16, for a total value of $165,201.68. Following the sale, the insider now directly owns 58,533 shares of the company's stock, valued at approximately $4,399,340.28. The trade was a 3.62% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website.

CAVA Group Stock Down 0.3%

Shares of CAVA stock traded down $0.23 on Wednesday, reaching $74.48. The stock had a trading volume of 2,974,635 shares, compared to its average volume of 3,113,691. CAVA Group, Inc. has a 12 month low of $70.00 and a 12 month high of $172.43. The firm has a market capitalization of $8.61 billion, a price-to-earnings ratio of 62.06, a P/E/G ratio of 3.49 and a beta of 2.77. The firm's 50-day moving average is $87.01 and its two-hundred day moving average is $102.62.

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 the consensus estimate of $0.14 by $0.08. CAVA Group had a return on equity of 10.61% and a net margin of 13.70%. The firm had revenue of $331.83 million for the quarter, compared to analyst estimates of $327.98 million. During the same quarter in the prior year, the company earned $0.12 earnings per share. The business's revenue for the quarter was up 28.1% compared to the same quarter last year. On average, sell-side analysts forecast that CAVA Group, Inc. will post 0.5 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

CAVA has been the subject of a number of research analyst reports. UBS Group reduced their target price on shares of CAVA Group from $125.00 to $112.00 and set a "neutral" rating for the company in a research note on Tuesday, May 13th. JPMorgan Chase & Co. raised CAVA Group from a "neutral" rating to an "overweight" rating and set a $110.00 price objective for the company in a research report on Thursday, March 20th. Bank of America lifted their target price on CAVA Group from $112.00 to $121.00 and gave the company a "buy" rating in a research report on Monday, May 19th. Citigroup upped their price target on CAVA Group from $114.00 to $115.00 and gave the stock a "neutral" rating in a research report on Friday, May 16th. Finally, Sanford C. Bernstein raised shares of CAVA Group from a "market perform" rating to an "outperform" rating and set a $115.00 price target for the company in a research note on Wednesday, April 23rd. Five analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $119.88.

Institutional Investors Weigh In On CAVA Group

A number of large investors have recently added to or reduced their stakes in the business. Arcadia Investment Management Corp MI acquired a new stake in CAVA Group during the 4th quarter worth approximately $25,000. First Horizon Advisors Inc. boosted its position in shares of CAVA Group by 1,400.0% in the first quarter. First Horizon Advisors Inc. now owns 285 shares of the company's stock valued at $25,000 after acquiring an additional 266 shares during the period. Vision Financial Markets LLC acquired a new position in shares of CAVA Group in the first quarter valued at about $26,000. Dagco Inc. bought a new position in CAVA Group during the first quarter worth about $27,000. Finally, Allworth Financial LP raised its stake in CAVA Group by 369.2% in the 4th quarter. Allworth Financial LP now owns 244 shares of the company's stock worth $30,000 after purchasing an additional 192 shares in the last quarter. Institutional investors own 73.15% of the company's stock.

CAVA Group Company Profile

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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