Brett Schulman Sells 20,564 Shares of CAVA Group, Inc. (NYSE:CAVA) Stock

CAVA Group, Inc. (NYSE:CAVA) CEO Brett Schulman sold 20,564 shares of the stock in a transaction that occurred on Tuesday, January 21st. The stock was sold at an average price of $119.18, for a total value of $2,450,817.52. Following the completion of the transaction, the chief executive officer now directly owns 776,369 shares of the company’s stock, valued at $92,527,657.42. This represents a 2.58 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink.

CAVA Group Stock Performance

Shares of CAVA stock traded up $0.75 on Thursday, reaching $124.14. The stock had a trading volume of 2,205,434 shares, compared to its average volume of 2,118,121. The stock has a market cap of $14.22 billion, a P/E ratio of 269.87 and a beta of 3.21. CAVA Group, Inc. has a 1 year low of $44.80 and a 1 year high of $172.43. The company has a 50 day simple moving average of $126.66 and a 200 day simple moving average of $118.09.

CAVA Group (NYSE:CAVA) last released its quarterly earnings results on Tuesday, November 12th. The company reported $0.15 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.11 by $0.04. The firm had revenue of $243.82 million for the quarter, compared to the consensus estimate of $233.05 million. CAVA Group had a return on equity of 9.10% and a net margin of 5.88%. The company’s revenue for the quarter was up 38.9% on a year-over-year basis. During the same period last year, the business posted $0.06 EPS. On average, equities research analysts anticipate that CAVA Group, Inc. will post 0.5 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

CAVA has been the subject of several research reports. JPMorgan Chase & Co. increased their target price on CAVA Group from $90.00 to $110.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 13th. Piper Sandler raised their price objective on CAVA Group from $100.00 to $142.00 and gave the company a “neutral” rating in a research report on Friday, November 15th. UBS Group reduced their price objective on CAVA Group from $160.00 to $125.00 and set a “neutral” rating for the company in a research report on Tuesday, January 7th. Citigroup raised their price objective on CAVA Group from $140.00 to $163.00 and gave the company a “neutral” rating in a research report on Wednesday, November 13th. Finally, Wedbush raised their price objective on CAVA Group from $155.00 to $190.00 and gave the company an “outperform” rating in a research report on Wednesday, November 13th. Eight research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $142.13.

Hedge Funds Weigh In On CAVA Group

Several institutional investors and hedge funds have recently bought and sold shares of the stock. FMR LLC lifted its position in CAVA Group by 0.9% during the third quarter. FMR LLC now owns 3,485,033 shares of the company’s stock valued at $431,621,000 after purchasing an additional 29,668 shares in the last quarter. Two Sigma Advisers LP lifted its position in CAVA Group by 17.0% during the third quarter. Two Sigma Advisers LP now owns 2,210,900 shares of the company’s stock valued at $273,820,000 after purchasing an additional 321,800 shares in the last quarter. Lord Abbett & CO. LLC lifted its position in CAVA Group by 1.5% during the third quarter. Lord Abbett & CO. LLC now owns 1,358,250 shares of the company’s stock valued at $168,219,000 after purchasing an additional 19,493 shares in the last quarter. State Street Corp lifted its position in CAVA Group by 33.3% during the third quarter. State Street Corp now owns 1,267,333 shares of the company’s stock valued at $156,959,000 after purchasing an additional 316,514 shares in the last quarter. Finally, Geode Capital Management LLC lifted its position in CAVA Group by 121.0% during the third quarter. Geode Capital Management LLC now owns 1,222,834 shares of the company’s stock valued at $151,492,000 after purchasing an additional 669,599 shares in the last quarter. 73.15% of the stock is currently owned by hedge funds and other institutional investors.

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.