Brett Schulman Sells 21,650 Shares of CAVA Group (NYSE:CAVA) Stock

CAVA Group, Inc. (NYSE:CAVA) CEO Brett Schulman sold 21,650 shares of CAVA Group stock in a transaction dated Wednesday, January 21st. The shares were sold at an average price of $67.41, for a total transaction of $1,459,426.50. Following the completion of the sale, the chief executive officer owned 807,325 shares in the company, valued at approximately $54,421,778.25. This trade represents a 2.61% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

CAVA Group Stock Up 0.4%

Shares of CAVA Group stock traded up $0.26 during trading hours on Friday, reaching $66.35. 2,762,397 shares of the company’s stock were exchanged, compared to its average volume of 3,899,031. The company has a market capitalization of $7.70 billion, a P/E ratio of 57.20, a price-to-earnings-growth ratio of 3.44 and a beta of 2.41. CAVA Group, Inc. has a 1 year low of $43.41 and a 1 year high of $144.49. The business has a fifty day moving average of $57.71 and a two-hundred day moving average of $65.53.

CAVA Group (NYSE:CAVA) last issued its earnings results on Tuesday, November 4th. The company reported $0.12 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.13 by ($0.01). CAVA Group had a net margin of 12.14% and a return on equity of 8.88%. The company had revenue of $292.24 million during the quarter, compared to analysts’ expectations of $292.88 million. During the same quarter in the previous year, the company earned $0.15 earnings per share. The firm’s quarterly revenue was up 19.9% compared to the same quarter last year. As a group, research analysts predict that CAVA Group, Inc. will post 0.5 EPS for the current year.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the company. Mizuho increased their price objective on CAVA Group from $52.00 to $64.00 and gave the stock a “neutral” rating in a research report on Friday, January 9th. Truist Financial increased their price target on CAVA Group from $66.00 to $78.00 and gave the stock a “buy” rating in a report on Thursday, January 8th. KeyCorp reduced their price objective on shares of CAVA Group from $85.00 to $65.00 and set an “overweight” rating on the stock in a report on Wednesday, November 5th. Piper Sandler decreased their price objective on shares of CAVA Group from $100.00 to $71.00 and set an “overweight” rating on the stock in a report on Wednesday, November 5th. Finally, Morgan Stanley cut their target price on CAVA Group from $86.00 to $80.00 and set an “equal weight” rating on the stock in a research report on Tuesday. One analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and nine have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $81.57.

Institutional Investors Weigh In On CAVA Group

Hedge funds have recently bought and sold shares of the stock. Cornerstone Planning Group LLC raised its holdings in CAVA Group by 378.7% in the third quarter. Cornerstone Planning Group LLC now owns 450 shares of the company’s stock valued at $27,000 after acquiring an additional 356 shares in the last quarter. Harbor Investment Advisory LLC grew its stake in shares of CAVA Group by 347.8% during the fourth quarter. Harbor Investment Advisory LLC now owns 515 shares of the company’s stock worth $30,000 after purchasing an additional 400 shares in the last quarter. Atlantic Union Bankshares Corp purchased a new position in CAVA Group in the second quarter valued at $31,000. Toth Financial Advisory Corp increased its holdings in CAVA Group by 656.7% in the third quarter. Toth Financial Advisory Corp now owns 507 shares of the company’s stock valued at $31,000 after buying an additional 440 shares during the last quarter. Finally, Western Pacific Wealth Management LP acquired a new stake in CAVA Group in the third quarter valued at $33,000. Institutional investors and hedge funds own 73.15% of the company’s stock.

About CAVA Group

CAVA Group, Inc (NYSE: CAVA) is a leading fast-casual restaurant company specializing in Mediterranean-inspired cuisine. Operating under the CAVA brand, the company offers customizable bowls, pitas and salads built around a variety of proteins, grains, fresh vegetables and house-made spreads. With a focus on high-quality ingredients and made-to-order preparation, CAVA aims to deliver a casual yet elevated dining experience for dine-in, takeout and catering customers.

Founded in 2011 in the Washington, DC metro area by Ike Grigoropoulos, Dimitri Katsanis and Brett Schulman, CAVA has pursued an aggressive growth strategy that included the 2018 acquisition of Zoe’s Kitchen.