Insider Selling: CAVA Group, Inc. (NYSE:CAVA) CAO Sells $76,499.85 in Stock

CAVA Group, Inc. (NYSE:CAVA) CAO Adam David Phillips sold 615 shares of the company’s stock in a transaction on Monday, January 27th. The shares were sold at an average price of $124.39, for a total value of $76,499.85. Following the transaction, the chief accounting officer now directly owns 10,884 shares in the company, valued at $1,353,860.76. This trade represents a 5.35 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

CAVA Group Trading Down 2.9 %

Shares of NYSE CAVA opened at $134.92 on Friday. The company has a fifty day moving average price of $125.06 and a 200 day moving average price of $119.91. CAVA Group, Inc. has a 1-year low of $46.56 and a 1-year high of $172.43. The firm has a market cap of $15.46 billion, a PE ratio of 293.31 and a beta of 3.21.

CAVA Group (NYSE:CAVA) last posted its quarterly earnings data on Tuesday, November 12th. The company reported $0.15 earnings per share for the quarter, topping the consensus estimate of $0.11 by $0.04. CAVA Group had a return on equity of 9.10% and a net margin of 5.88%. The company had revenue of $243.82 million during the quarter, compared to analysts’ expectations of $233.05 million. During the same period in the prior year, the firm earned $0.06 earnings per share. CAVA Group’s revenue for the quarter was up 38.9% compared to the same quarter last year. Equities research analysts forecast that CAVA Group, Inc. will post 0.5 EPS for the current year.

Hedge Funds Weigh In On CAVA Group

Several hedge funds have recently made changes to their positions in the business. Nwam LLC lifted its position in shares of CAVA Group by 2.6% in the third quarter. Nwam LLC now owns 3,368 shares of the company’s stock worth $417,000 after purchasing an additional 85 shares in the last quarter. Howard Financial Services LTD. lifted its position in CAVA Group by 1.8% during the 4th quarter. Howard Financial Services LTD. now owns 6,194 shares of the company’s stock worth $699,000 after buying an additional 109 shares in the last quarter. CIBC Asset Management Inc lifted its position in CAVA Group by 3.5% during the 3rd quarter. CIBC Asset Management Inc now owns 3,287 shares of the company’s stock worth $407,000 after buying an additional 110 shares in the last quarter. Farther Finance Advisors LLC increased its position in shares of CAVA Group by 6.3% in the third quarter. Farther Finance Advisors LLC now owns 1,916 shares of the company’s stock valued at $237,000 after acquiring an additional 113 shares during the last quarter. Finally, GAMMA Investing LLC raised its holdings in CAVA Group by 37.0% during the fourth quarter. GAMMA Investing LLC now owns 422 shares of the company’s stock worth $48,000 after acquiring an additional 114 shares in the last quarter. 73.15% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the company. Piper Sandler raised their price target on CAVA Group from $100.00 to $142.00 and gave the stock a “neutral” rating in a research report on Friday, November 15th. Barclays decreased their target price on CAVA Group from $142.00 to $127.00 and set an “equal weight” rating for the company in a research report on Tuesday, January 7th. Citigroup increased their price target on shares of CAVA Group from $140.00 to $163.00 and gave the company a “neutral” rating in a research report on Wednesday, November 13th. Robert W. Baird boosted their price objective on shares of CAVA Group from $125.00 to $148.00 and gave the company an “outperform” rating in a report on Monday, November 4th. Finally, Wedbush increased their target price on shares of CAVA Group from $155.00 to $190.00 and gave the stock an “outperform” rating in a report on Wednesday, November 13th. Eight investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, CAVA Group presently has an average rating of “Moderate Buy” and a consensus target price of $142.13.

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.