Ronald M. Shaich Sells 622,549 Shares of CAVA Group, Inc. (NYSE:CAVA) Stock

CAVA Group, Inc. (NYSE:CAVA) Director Ronald M. Shaich sold 622,549 shares of the stock in a transaction on Monday, December 9th. The shares were sold at an average price of $149.40, for a total value of $93,008,820.60. Following the completion of the transaction, the director now owns 6,307 shares in the company, valued at $942,265.80. The trade was a 99.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link.

CAVA Group Trading Down 1.8 %

CAVA stock opened at $125.34 on Friday. CAVA Group, Inc. has a 12 month low of $36.69 and a 12 month high of $172.43. The stock has a market cap of $14.36 billion, a PE ratio of 272.48 and a beta of 2.94. The company has a 50-day moving average price of $137.72 and a 200 day moving average price of $112.70.

CAVA Group (NYSE:CAVA) last released its quarterly earnings data on Tuesday, November 12th. The company reported $0.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.11 by $0.04. The company had revenue of $243.82 million during the quarter, compared to analysts’ expectations of $233.05 million. CAVA Group had a net margin of 5.88% and a return on equity of 9.10%. The firm’s quarterly revenue was up 38.9% on a year-over-year basis. During the same period in the previous year, the company earned $0.06 EPS. Sell-side analysts forecast that CAVA Group, Inc. will post 0.5 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the company. JPMorgan Chase & Co. increased their price objective on CAVA Group from $90.00 to $110.00 and gave the company a “neutral” rating in a report on Wednesday, November 13th. Barclays upped their price target on CAVA Group from $113.00 to $142.00 and gave the company an “equal weight” rating in a research report on Wednesday, November 13th. TD Securities boosted their price target on shares of CAVA Group from $115.00 to $130.00 and gave the company a “buy” rating in a research note on Tuesday, September 24th. TD Cowen upped their price target on CAVA Group from $130.00 to $150.00 and gave the company a “buy” rating in a research report on Wednesday, November 13th. Finally, Argus raised their price objective on CAVA Group from $104.00 to $128.00 and gave the company a “buy” rating in a report on Wednesday, September 11th. Eight investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $143.80.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in CAVA. FMR LLC increased its holdings in shares of CAVA Group by 0.9% in the third quarter. FMR LLC now owns 3,485,033 shares of the company’s stock valued at $431,621,000 after purchasing an additional 29,668 shares during the period. Two Sigma Advisers LP increased its holdings in CAVA Group by 17.0% in the 3rd quarter. Two Sigma Advisers LP now owns 2,210,900 shares of the company’s stock worth $273,820,000 after buying an additional 321,800 shares during the period. State Street Corp raised its position in CAVA Group by 33.3% during the 3rd quarter. State Street Corp now owns 1,267,333 shares of the company’s stock worth $156,959,000 after buying an additional 316,514 shares during the last quarter. Geode Capital Management LLC lifted its stake in CAVA Group by 121.0% during the 3rd quarter. Geode Capital Management LLC now owns 1,222,834 shares of the company’s stock valued at $151,492,000 after acquiring an additional 669,599 shares during the period. Finally, Federated Hermes Inc. boosted its holdings in shares of CAVA Group by 9.7% in the 2nd quarter. Federated Hermes Inc. now owns 1,060,029 shares of the company’s stock valued at $98,318,000 after acquiring an additional 93,635 shares during the last quarter. 73.15% of the stock is currently owned by hedge funds and other 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.