Kelly Costanza Sells 2,870 Shares of CAVA Group (NYSE:CAVA) Stock

CAVA Group, Inc. (NYSE:CAVA) insider Kelly Costanza sold 2,870 shares of the stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $89.43, for a total transaction of $256,664.10. Following the completion of the sale, the insider owned 110,980 shares of the company’s stock, valued at approximately $9,924,941.40. The trade was a 2.52% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Kelly Costanza also recently made the following trade(s):

• On Wednesday, June 17th, Kelly Costanza sold 12,490 shares of CAVA Group stock. The shares were sold at an average price of $90.00, for a total transaction of $1,124,100.00.
• On Thursday, May 21st, Kelly Costanza sold 10,010 shares of CAVA Group stock. The shares were sold at an average price of $79.87, for a total transaction of $799,498.70.

CAVA Group Trading Up 1.2%

NYSE CAVA opened at $89.15 on Friday. CAVA Group, Inc. has a 1-year low of $43.41 and a 1-year high of $98.79. The firm’s fifty day simple moving average is $84.11 and its 200-day simple moving average is $74.17. The company has a market capitalization of $10.38 billion, a PE ratio of 171.44, a price-to-earnings-growth ratio of 6.04 and a beta of 1.70.

CAVA Group (NYSE:CAVA) last released its quarterly earnings data on Tuesday, May 19th. The company reported $0.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.17 by $0.03. CAVA Group had a return on equity of 7.92% and a net margin of 4.79%.The firm had revenue of $438.27 million during the quarter, compared to analysts’ expectations of $360.89 million. During the same quarter last year, the firm earned $0.22 earnings per share. The business’s revenue for the quarter was up 32.1% on a year-over-year basis. As a group, analysts predict that CAVA Group, Inc. will post 0.55 EPS for the current year.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on CAVA. Robert W. Baird lifted their price target on CAVA Group from $88.00 to $98.00 and gave the company an “outperform” rating in a report on Wednesday, May 20th. DA Davidson increased their price objective on CAVA Group from $80.00 to $84.00 and gave the stock a “neutral” rating in a report on Thursday, May 21st. The Goldman Sachs Group raised their price objective on shares of CAVA Group from $75.00 to $86.00 and gave the company a “neutral” rating in a research report on Monday, April 13th. Wolfe Research assumed coverage on shares of CAVA Group in a research note on Monday, March 9th. They issued an “outperform” rating and a $93.00 target price for the company. Finally, Telsey Advisory Group boosted their target price on shares of CAVA Group from $92.00 to $95.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 20th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, nine have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $93.37.

Hedge Funds Weigh In On CAVA Group

A number of institutional investors have recently made changes to their positions in CAVA. DMC Group LLC lifted its position in shares of CAVA Group by 3.7% during the 4th quarter. DMC Group LLC now owns 4,426 shares of the company’s stock worth $260,000 after purchasing an additional 157 shares during the last quarter. Modern Wealth Management LLC increased its position in CAVA Group by 4.2% in the 1st quarter. Modern Wealth Management LLC now owns 3,907 shares of the company’s stock worth $313,000 after buying an additional 158 shares during the period. Bridgewater Associates LP lifted its holdings in shares of CAVA Group by 2.4% during the fourth quarter. Bridgewater Associates LP now owns 6,827 shares of the company’s stock worth $401,000 after buying an additional 163 shares during the last quarter. Western Pacific Wealth Management LP grew its stake in shares of CAVA Group by 32.5% in the fourth quarter. Western Pacific Wealth Management LP now owns 729 shares of the company’s stock worth $43,000 after acquiring an additional 179 shares during the last quarter. Finally, Allworth Financial LP increased its position in CAVA Group by 57.4% during the fourth quarter. Allworth Financial LP now owns 650 shares of the company’s stock worth $38,000 after acquiring an additional 237 shares during the period. 73.15% of the stock is currently owned by institutional investors.

Key Headlines Impacting CAVA Group

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

• Positive Sentiment: Jim Cramer reiterated a bullish view on CAVA, calling it “the best of the new concepts” and recommending it as a buy, which may be boosting investor sentiment. Article: Jim Cramer Calls CAVA ‘Tasty, Clean, Fun,’ Says Make This Biotech ‘Your Speculation’
• Positive Sentiment: The company’s latest earnings beat continues to support the stock, with CAVA posting $0.20 EPS versus $0.17 expected and revenue of $438.27 million versus $360.89 million expected. Article: Cava (CAVA) Up 9.3% Since Last Earnings Report: Can It Continue?
• Neutral Sentiment: Analysts remain generally constructive, with a “Moderate Buy” consensus and an average price target above the current share price, reinforcing the longer-term growth narrative. Article: 2 Restaurant Stocks, 2 Earnings Beats, 2 Very Different Setups
• Negative Sentiment: Several insiders, including CEO Brett Schulman, CFO Tricia K. Tolivar, CAO Adam David Phillips, and executive Theodoros Xenohristos, sold shares near recent highs. The sales were tied to tax withholding on equity awards, but the broad insider selling could weigh on sentiment. Article: Insider Selling: CAVA Group (NYSE:CAVA) CEO Sells 33,174 Shares of 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.