CAVA Group, Inc. (NYSE:CAVA) Director Karen Kochevar Sells 15,000 Shares

CAVA Group, Inc. (NYSE:CAVA) Director Karen Kochevar sold 15,000 shares of CAVA Group stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $140.00, for a total value of $2,100,000.00. Following the completion of the sale, the director now owns 1,307 shares of the company’s stock, valued at $182,980. The trade was a 91.99 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

CAVA Group Trading Up 2.9 %

CAVA Group stock traded up $4.01 during midday trading on Tuesday, reaching $141.25. 4,372,217 shares of the stock traded hands, compared to its average volume of 2,783,802. The company has a 50-day simple moving average of $131.69 and a two-hundred day simple moving average of $104.72. CAVA Group, Inc. has a 12-month low of $31.47 and a 12-month high of $172.43. The firm has a market cap of $16.18 billion, a PE ratio of 298.33 and a beta of 3.23.

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

Institutional Investors Weigh In On CAVA Group

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Sei Investments Co. increased its position in CAVA Group by 70.6% during the first quarter. Sei Investments Co. now owns 35,784 shares of the company’s stock worth $2,507,000 after buying an additional 14,811 shares during the period. Russell Investments Group Ltd. acquired a new stake in CAVA Group in the first quarter valued at $6,532,000. Kingsview Wealth Management LLC acquired a new stake in CAVA Group in the first quarter valued at $294,000. Vanguard Group Inc. grew its holdings in CAVA Group by 215.7% in the first quarter. Vanguard Group Inc. now owns 4,944,036 shares of the company’s stock valued at $346,330,000 after purchasing an additional 3,377,840 shares during the last quarter. Finally, Acadian Asset Management LLC purchased a new stake in shares of CAVA Group in the first quarter valued at $323,000. Institutional investors and hedge funds own 73.15% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on CAVA. UBS Group began coverage on CAVA Group in a research note on Friday, September 27th. They set a “neutral” rating and a $135.00 price target on the stock. Robert W. Baird upped their target price on CAVA Group from $125.00 to $148.00 and gave the company an “outperform” rating in a research report on Monday, November 4th. Wedbush upped their price objective on CAVA Group from $155.00 to $190.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 13th. TD Securities upped their price objective on CAVA Group from $115.00 to $130.00 and gave the stock a “buy” rating in a research report on Tuesday, September 24th. Finally, Jefferies Financial Group upped their target price on CAVA Group from $94.00 to $117.00 and gave the stock a “buy” rating in a research note on Friday, August 23rd. Seven investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $143.71.

CAVA Group Company Profile

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.