Tricia K. Tolivar Sells 4,845 Shares of CAVA Group, Inc. (NYSE:CAVA) Stock

CAVA Group, Inc. (NYSE:CAVA - Get Free Report) CFO Tricia K. Tolivar sold 4,845 shares of the firm's stock in a transaction on Monday, June 16th. The shares were sold at an average price of $75.16, for a total transaction of $364,150.20. Following the sale, the chief financial officer now owns 236,345 shares in the company, valued at $17,763,690.20. The trade was a 2.01% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

CAVA Group Stock Performance

CAVA stock traded down $0.23 during midday trading on Wednesday, reaching $74.48. 2,974,619 shares of the company traded hands, compared to its average volume of 3,113,689. 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 business has a 50 day moving average of $87.01 and a 200-day moving average of $102.62. CAVA Group, Inc. has a 52-week low of $70.00 and a 52-week high of $172.43.

CAVA Group (NYSE:CAVA - Get Free Report) last issued its quarterly earnings results on Thursday, May 15th. The company reported $0.22 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.14 by $0.08. CAVA Group had a return on equity of 10.61% and a net margin of 13.70%. The company had revenue of $331.83 million during the quarter, compared to the consensus estimate of $327.98 million. During the same period last year, the company earned $0.12 earnings per share. CAVA Group's revenue was up 28.1% on a year-over-year basis. Research analysts anticipate that CAVA Group, Inc. will post 0.5 earnings per share for the current year.

Hedge Funds Weigh In On CAVA Group

A number of large investors have recently made changes to their positions in CAVA. Vanguard Group Inc. lifted its stake in CAVA Group by 13.2% in the first quarter. Vanguard Group Inc. now owns 9,065,782 shares of the company's stock worth $783,374,000 after purchasing an additional 1,054,180 shares during the last quarter. Jennison Associates LLC lifted its stake in shares of CAVA Group by 246.1% during the 1st quarter. Jennison Associates LLC now owns 8,519,459 shares of the company's stock worth $736,166,000 after acquiring an additional 6,057,727 shares during the last quarter. FMR LLC boosted its holdings in CAVA Group by 14.1% during the 4th quarter. FMR LLC now owns 3,976,353 shares of the company's stock valued at $448,533,000 after acquiring an additional 491,320 shares during the period. Price T Rowe Associates Inc. MD grew its position in CAVA Group by 114.4% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 2,394,561 shares of the company's stock valued at $206,915,000 after acquiring an additional 1,277,912 shares during the last quarter. Finally, Federated Hermes Inc. increased its stake in CAVA Group by 33.0% in the fourth quarter. Federated Hermes Inc. now owns 1,464,987 shares of the company's stock worth $165,243,000 after purchasing an additional 363,814 shares during the period. 73.15% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on CAVA shares. Piper Sandler upgraded CAVA Group from a "neutral" rating to an "overweight" rating and cut their price target for the stock from $142.00 to $115.00 in a research note on Friday, February 28th. UBS Group cut their target price on CAVA Group from $125.00 to $112.00 and set a "neutral" rating for the company in a research report on Tuesday, May 13th. Wedbush reissued an "outperform" rating and issued a $150.00 price target on shares of CAVA Group in a report on Wednesday, February 26th. Bank of America lifted their price objective on shares of CAVA Group from $112.00 to $121.00 and gave the company a "buy" rating in a research report on Monday, May 19th. Finally, Sanford C. Bernstein upgraded shares of CAVA Group from a "market perform" rating to an "outperform" rating and set a $115.00 target price for the company in a research report on Wednesday, April 23rd. Five analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $119.88.

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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