CAVA Group (NYSE:CAVA) Insider Kelly Costanza Sells 10,010 Shares

CAVA Group, Inc. (NYSE:CAVA) insider Kelly Costanza sold 10,010 shares of the firm’s stock in a transaction dated Thursday, May 21st. The stock was sold at an average price of $79.87, for a total transaction of $799,498.70. Following the sale, the insider owned 113,850 shares of the company’s stock, valued at approximately $9,093,199.50. This represents a 8.08% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

CAVA Group Stock Performance

NYSE CAVA opened at $80.41 on Friday. The firm has a 50-day moving average of $84.97 and a 200-day moving average of $69.73. The stock has a market cap of $9.37 billion, a PE ratio of 154.63, a P/E/G ratio of 5.67 and a beta of 1.90. CAVA Group, Inc. has a 52-week low of $43.41 and a 52-week high of $98.79.

CAVA Group (NYSE:CAVA) last posted its earnings results on Tuesday, May 19th. The company reported $0.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.17 by $0.03. The company had revenue of $438.27 million during the quarter, compared to analysts’ expectations of $360.89 million. CAVA Group had a net margin of 4.79% and a return on equity of 7.92%. CAVA Group’s quarterly revenue was up 32.1% compared to the same quarter last year. During the same quarter last year, the company posted $0.22 EPS. As a group, analysts predict that CAVA Group, Inc. will post 0.54 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

CAVA has been the subject of a number of research reports. Stifel Nicolaus raised their target price on shares of CAVA Group from $90.00 to $105.00 and gave the stock a “buy” rating in a research note on Wednesday. The Goldman Sachs Group raised their price target on shares of CAVA Group from $75.00 to $86.00 and gave the stock a “neutral” rating in a research report on Monday, April 13th. Sanford C. Bernstein reaffirmed an “outperform” rating and set a $95.00 price target on shares of CAVA Group in a research report on Wednesday. Wolfe Research initiated coverage on shares of CAVA Group in a research report on Monday, March 9th. They set an “outperform” rating and a $93.00 price target on the stock. Finally, Wall Street Zen lowered shares of CAVA Group from a “hold” rating to a “sell” rating in a research report on Saturday, May 16th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, ten have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $93.19.

Trending Headlines about CAVA Group

Here are the key news stories impacting CAVA Group this week:

• Positive Sentiment: Argus upgraded CAVA Group from hold to buy, reinforcing the optimistic post-earnings sentiment around the stock. Argus upgrade coverage
• Positive Sentiment: Analyst commentary continued to lean bullish, with Piper Sandler reaffirming a buy rating, Roth MKM reiterating buy, and TD Cowen maintaining a buy call. Piper Sandler coverage
• Positive Sentiment: Recent coverage highlighted strong Q1 results, including 9.7% same-restaurant sales growth and improved operating leverage, which supports the case for continued fundamental momentum. Seeking Alpha article
• Neutral Sentiment: DA Davidson raised its price target to $84 from $80 but kept a neutral rating, suggesting upside potential but also valuation caution. DA Davidson price target update
• Neutral Sentiment: Insider selling was disclosed by CAO Adam David Phillips and insider Kelly Costanza, though Costanza’s sale was tied to tax withholding on vesting equity awards, making the signal less negative than a discretionary sale. SEC filing

Hedge Funds Weigh In On CAVA Group

Hedge funds have recently bought and sold shares of the company. Amundi boosted its stake in shares of CAVA Group by 578.4% in the 1st quarter. Amundi now owns 290,281 shares of the company’s stock valued at $23,484,000 after purchasing an additional 247,489 shares in the last quarter. EverSource Wealth Advisors LLC boosted its stake in shares of CAVA Group by 60.7% in the 1st quarter. EverSource Wealth Advisors LLC now owns 1,040 shares of the company’s stock valued at $84,000 after purchasing an additional 393 shares in the last quarter. California State Teachers Retirement System boosted its position in CAVA Group by 25.2% in the first quarter. California State Teachers Retirement System now owns 110,842 shares of the company’s stock valued at $8,967,000 after buying an additional 22,322 shares in the last quarter. Quantinno Capital Management LP boosted its position in CAVA Group by 123.0% in the first quarter. Quantinno Capital Management LP now owns 76,126 shares of the company’s stock valued at $6,159,000 after buying an additional 41,986 shares in the last quarter. Finally, Blue Chip Partners LLC grew its stake in shares of CAVA Group by 46.3% during the first quarter. Blue Chip Partners LLC now owns 9,822 shares of the company’s stock worth $795,000 after buying an additional 3,107 shares during the last quarter. 73.15% of the stock is owned by institutional investors.

CAVA Group Company Profile

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.