Kenneth Robert Bertram Sells 678 Shares of CAVA Group, Inc. (NYSE:CAVA) Stock

CAVA Group, Inc. (NYSE:CAVA) insider Kenneth Robert Bertram sold 678 shares of the business’s stock in a transaction dated Monday, January 27th. The stock was sold at an average price of $124.39, for a total transaction of $84,336.42. Following the completion of the sale, the insider now owns 57,312 shares in the company, valued at approximately $7,129,039.68. This trade represents a 1.17 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website.

CAVA Group Stock Performance

Shares of NYSE CAVA traded up $9.31 during trading hours on Wednesday, hitting $135.27. The stock had a trading volume of 3,500,334 shares, compared to its average volume of 2,087,557. The company has a market capitalization of $15.50 billion, a P/E ratio of 294.06 and a beta of 3.21. The firm’s 50-day moving average price is $125.46 and its two-hundred day moving average price is $119.33. CAVA Group, Inc. has a 52 week low of $46.56 and a 52 week high of $172.43.

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 business had revenue of $243.82 million during the quarter, compared to analyst estimates of $233.05 million. CAVA Group had a net margin of 5.88% and a return on equity of 9.10%. CAVA Group’s quarterly revenue was up 38.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.06 EPS. As a group, analysts expect that CAVA Group, Inc. will post 0.5 EPS for the current fiscal year.

Analysts Set New Price Targets

CAVA has been the subject of a number of recent research reports. Robert W. Baird increased their price objective on CAVA Group from $125.00 to $148.00 and gave the company an “outperform” rating in a research report on Monday, November 4th. Barclays decreased their price target on CAVA Group from $142.00 to $127.00 and set an “equal weight” rating for the company in a research report on Tuesday, January 7th. Morgan Stanley boosted their price objective on CAVA Group from $123.00 to $135.00 and gave the stock an “equal weight” rating in a report on Thursday, November 14th. JPMorgan Chase & Co. raised their target price 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. Finally, William Blair restated an “outperform” rating on shares of CAVA Group in a report on Wednesday, November 13th. Eight analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat, CAVA Group has a consensus rating of “Moderate Buy” and an average price target of $142.13.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. American Century Companies Inc. acquired a new position in CAVA Group during the second quarter valued at approximately $309,000. Dimensional Fund Advisors LP grew its stake in CAVA Group by 0.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 39,154 shares of the company’s stock valued at $3,632,000 after buying an additional 184 shares during the last quarter. Mercer Global Advisors Inc. ADV bought a new position in CAVA Group in the 2nd quarter worth $257,000. Thrivent Financial for Lutherans lifted its position in CAVA Group by 12.0% during the 2nd quarter. Thrivent Financial for Lutherans now owns 20,348 shares of the company’s stock worth $1,887,000 after acquiring an additional 2,178 shares during the last quarter. Finally, AQR Capital Management LLC bought a new stake in CAVA Group during the second quarter valued at about $208,000. 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.