Brett Schulman Sells 20,564 Shares of CAVA Group, Inc. (NYSE:CAVA) Stock

CAVA Group, Inc. (NYSE:CAVA) CEO Brett Schulman sold 20,564 shares of the business’s stock in a transaction that occurred on Tuesday, January 21st. The shares were sold at an average price of $119.18, for a total transaction of $2,450,817.52. Following the transaction, the chief executive officer now directly owns 776,369 shares in the company, valued at $92,527,657.42. The trade was a 2.58 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

CAVA Group Price Performance

Shares of CAVA stock opened at $124.97 on Friday. The stock’s fifty day simple moving average is $126.05 and its 200 day simple moving average is $118.54. CAVA Group, Inc. has a one year low of $44.80 and a one year high of $172.43. The firm has a market cap of $14.32 billion, a price-to-earnings ratio of 271.68 and a beta of 3.21.

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

Analyst Upgrades and Downgrades

A number of research analysts have commented on the company. Stifel Nicolaus boosted their target price on CAVA Group from $118.00 to $175.00 and gave the company a “buy” rating in a research note on Wednesday, November 13th. Robert W. Baird boosted their target price on shares of CAVA Group from $125.00 to $148.00 and gave the stock an “outperform” rating in a research report on Monday, November 4th. JPMorgan Chase & Co. upped their price objective on shares of CAVA Group from $90.00 to $110.00 and gave the stock a “neutral” rating in a report on Wednesday, November 13th. UBS Group cut their price objective on CAVA Group from $160.00 to $125.00 and set a “neutral” rating on the stock in a research note on Tuesday, January 7th. Finally, Barclays dropped their price target on shares of CAVA Group from $142.00 to $127.00 and set an “equal weight” rating on the stock in a research report on Tuesday, January 7th. Eight investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $142.13.

Institutional Trading of CAVA Group

Several hedge funds have recently modified their holdings of the company. Nwam LLC grew its holdings in shares of CAVA Group by 2.6% during the third quarter. Nwam LLC now owns 3,368 shares of the company’s stock worth $417,000 after purchasing an additional 85 shares during the last quarter. Howard Financial Services LTD. raised its stake in shares of CAVA Group by 1.8% in the fourth quarter. Howard Financial Services LTD. now owns 6,194 shares of the company’s stock worth $699,000 after acquiring an additional 109 shares during the last quarter. CIBC Asset Management Inc raised its stake in shares of CAVA Group by 3.5% in the third quarter. CIBC Asset Management Inc now owns 3,287 shares of the company’s stock worth $407,000 after acquiring an additional 110 shares during the last quarter. Farther Finance Advisors LLC lifted its position in shares of CAVA Group by 6.3% during the third quarter. Farther Finance Advisors LLC now owns 1,916 shares of the company’s stock worth $237,000 after purchasing an additional 113 shares in the last quarter. Finally, GAMMA Investing LLC grew its stake in shares of CAVA Group by 37.0% during the fourth quarter. GAMMA Investing LLC now owns 422 shares of the company’s stock valued at $48,000 after purchasing an additional 114 shares during the last quarter. Institutional investors and hedge funds own 73.15% of the company’s stock.

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.