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 on Friday, November 15th. The shares were sold at an average price of $140.00, for a total transaction 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. This represents a 91.99 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

CAVA Group Price Performance

NYSE CAVA opened at $141.18 on Wednesday. The company has a fifty day moving average price of $132.03 and a 200-day moving average price of $105.21. CAVA Group, Inc. has a 1 year low of $31.47 and a 1 year high of $172.43. The firm has a market cap of $16.18 billion, a price-to-earnings ratio of 306.90 and a beta of 3.23.

CAVA Group (NYSE:CAVA) last issued its quarterly earnings data on Tuesday, November 12th. The company reported $0.15 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $233.05 million. During the same period in the prior year, the firm posted $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 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on CAVA shares. Barclays lifted their price target on shares of CAVA Group from $113.00 to $142.00 and gave the company an “equal weight” rating in a research note on Wednesday, November 13th. Wedbush boosted their target price on CAVA Group from $155.00 to $190.00 and gave the company an “outperform” rating in a research report on Wednesday, November 13th. UBS Group assumed coverage on CAVA Group in a report on Friday, September 27th. They issued a “neutral” rating and a $135.00 price target on the stock. TD Cowen boosted their price objective on CAVA Group from $130.00 to $150.00 and gave the company a “buy” rating in a report on Wednesday, November 13th. Finally, Piper Sandler increased their target price on CAVA Group from $100.00 to $142.00 and gave the stock a “neutral” rating in a report on Friday, November 15th. Seven analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $143.71.

Institutional Trading of CAVA Group

Institutional investors and hedge funds have recently modified their holdings of the business. Vanguard Group Inc. boosted its position in CAVA Group by 215.7% in the first quarter. Vanguard Group Inc. now owns 4,944,036 shares of the company’s stock worth $346,330,000 after purchasing an additional 3,377,840 shares during the last quarter. Capital Research Global Investors boosted its holdings in shares of CAVA Group by 21.6% in the 1st quarter. Capital Research Global Investors now owns 5,311,335 shares of the company’s stock worth $372,059,000 after buying an additional 942,054 shares during the last quarter. Geode Capital Management LLC grew its position in CAVA Group by 121.0% during the third quarter. Geode Capital Management LLC now owns 1,222,834 shares of the company’s stock valued at $151,492,000 after buying an additional 669,599 shares during the period. Renaissance Technologies LLC increased its holdings in CAVA Group by 102.5% during the second quarter. Renaissance Technologies LLC now owns 892,400 shares of the company’s stock worth $82,770,000 after buying an additional 451,800 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in CAVA Group by 262.8% in the third quarter. Charles Schwab Investment Management Inc. now owns 516,092 shares of the company’s stock worth $63,918,000 after acquiring an additional 373,835 shares during the period. 73.15% of the stock is 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.