Insider Selling: CAVA Group, Inc. (NYSE:CAVA) CEO Sells 2,936 Shares of Stock

CAVA Group, Inc. (NYSE:CAVA) CEO Brett Schulman sold 2,936 shares of CAVA Group stock in a transaction that occurred on Monday, January 27th. The stock was sold at an average price of $124.39, for a total value of $365,209.04. Following the sale, the chief executive officer now directly owns 773,433 shares of the company’s stock, valued at approximately $96,207,330.87. The trade was a 0.38 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Brett Schulman also recently made the following trade(s):

• On Tuesday, January 21st, Brett Schulman sold 20,564 shares of CAVA Group stock. The shares were sold at an average price of $119.18, for a total transaction of $2,450,817.52.

CAVA Group Price Performance

NYSE CAVA traded up $9.31 during trading hours on Wednesday, reaching $135.27. The company’s stock had a trading volume of 3,500,334 shares, compared to its average volume of 2,087,557. CAVA Group, Inc. has a 52 week low of $46.56 and a 52 week high of $172.43. The stock has a market cap of $15.50 billion, a P/E ratio of 294.06 and a beta of 3.21. The firm has a fifty day simple moving average of $125.46 and a 200-day simple moving average of $119.33.

CAVA Group (NYSE:CAVA) last issued 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 net margin of 5.88% and a return on equity of 9.10%. The company had revenue of $243.82 million for the quarter, compared to analysts’ expectations of $233.05 million. During the same quarter in the previous year, the firm posted $0.06 earnings per share. CAVA Group’s revenue for the quarter was up 38.9% on a year-over-year basis. On average, research analysts expect that CAVA Group, Inc. will post 0.5 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on CAVA shares. JPMorgan Chase & Co. boosted their price objective on shares of CAVA Group from $90.00 to $110.00 and gave the company a “neutral” rating in a report on Wednesday, November 13th. UBS Group lowered their price objective on CAVA Group from $160.00 to $125.00 and set a “neutral” rating on the stock in a research note on Tuesday, January 7th. Piper Sandler upped their target price on CAVA Group from $100.00 to $142.00 and gave the company a “neutral” rating in a research report on Friday, November 15th. Barclays dropped their price target on CAVA Group from $142.00 to $127.00 and set an “equal weight” rating for the company in a research note on Tuesday, January 7th. Finally, Robert W. Baird raised their target price 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. Eight research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $142.13.

Institutional Trading of CAVA Group

Institutional investors have recently added to or reduced their stakes in the stock. Sovran Advisors LLC bought a new position in CAVA Group during the 4th quarter worth approximately $2,628,000. Wealthstar Advisors LLC bought a new position in CAVA Group during the fourth quarter worth $1,164,000. Newbridge Financial Services Group Inc. bought a new stake in CAVA Group during the fourth quarter valued at $86,000. Entropy Technologies LP acquired a new stake in CAVA Group during the 4th quarter worth about $2,097,000. Finally, Empowered Funds LLC bought a new position in shares of CAVA Group in the 4th quarter worth about $5,007,000. 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.