Key Points
- CAVA CEO Brett Schulman sold 33,174 shares on June 15 at an average price of $89.43, generating about $2.97 million. After the sale, he still owned 798,669 shares, and the company said the transaction was to cover tax withholding from vesting equity awards.
- CAVA recently posted strong quarterly results, reporting EPS of $0.20 versus estimates of $0.17 and revenue of $438.27 million versus expectations of $360.89 million. Revenue rose 32.1% year over year, and analysts now expect full-year EPS of 0.55.
- Analysts remain broadly positive on CAVA, with a consensus “Moderate Buy” rating and an average price target of $93.37. However, the stock has also seen recent insider selling and mixed commentary about whether its expansion can sustain momentum.
CAVA Group, Inc. (NYSE:CAVA - Get Free Report) CAO Adam David Phillips sold 757 shares of the firm's stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $89.43, for a total transaction of $67,698.51. Following the sale, the chief accounting officer owned 6,848 shares of the company's stock, valued at approximately $612,416.64. This represents a 9.95% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.
Adam David Phillips also recently made the following trade(s):
- On Thursday, May 21st, Adam David Phillips sold 5,181 shares of CAVA Group stock. The shares were sold at an average price of $77.14, for a total transaction of $399,662.34.
CAVA Group Stock Up 0.9%
Shares of NYSE CAVA opened at $88.09 on Thursday. The firm's 50-day moving average price is $83.99 and its 200-day moving average price is $73.89. The company has a market cap of $10.26 billion, a PE ratio of 169.41, a PEG ratio of 5.98 and a beta of 1.70. CAVA Group, Inc. has a 52-week low of $43.41 and a 52-week high of $98.79.
CAVA Group (NYSE:CAVA - Get Free Report) last announced its quarterly earnings results on Tuesday, May 19th. The company reported $0.20 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.17 by $0.03. CAVA Group had a net margin of 4.79% and a return on equity of 7.92%. The firm had revenue of $438.27 million for the quarter, compared to the consensus estimate of $360.89 million. During the same quarter last year, the firm posted $0.22 EPS. The business's quarterly revenue was up 32.1% compared to the same quarter last year. As a group, equities research analysts anticipate that CAVA Group, Inc. will post 0.55 EPS for the current fiscal year.
Analysts Set New Price Targets
A number of brokerages have recently issued reports on CAVA. Piper Sandler boosted their price objective on shares of CAVA Group from $85.00 to $92.00 and gave the company an "overweight" rating in a research report on Wednesday, May 20th. Barclays lifted their price objective on shares of CAVA Group from $70.00 to $74.00 and gave the company an "equal weight" rating in a research report on Wednesday, May 20th. Guggenheim started coverage on shares of CAVA Group in a research report on Thursday, March 26th. They issued a "buy" rating and a $100.00 price target on the stock. Royal Bank Of Canada boosted their price target on shares of CAVA Group from $100.00 to $105.00 and gave the stock an "outperform" rating in a research report on Wednesday, May 20th. Finally, Roth Mkm reissued a "buy" rating and issued a $106.00 target price on shares of CAVA Group in a research note on Wednesday, May 20th. One analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, CAVA Group currently has an average rating of "Moderate Buy" and an average target price of $93.37.
Read Our Latest Analysis on CAVA
Institutional Trading of CAVA Group
Hedge funds have recently added to or reduced their stakes in the business. Los Angeles Capital Management LLC purchased a new stake in CAVA Group in the fourth quarter worth about $25,000. Harbor Investment Advisory LLC increased its holdings in shares of CAVA Group by 347.8% during the fourth quarter. Harbor Investment Advisory LLC now owns 515 shares of the company's stock valued at $30,000 after acquiring an additional 400 shares in the last quarter. TD Private Client Wealth LLC increased its holdings in CAVA Group by 118.2% in the 4th quarter. TD Private Client Wealth LLC now owns 600 shares of the company's stock worth $35,000 after buying an additional 325 shares during the period. Strategic Investment Solutions Inc. IL acquired a new position in CAVA Group in the 3rd quarter worth approximately $36,000. Finally, Allworth Financial LP increased its holdings in CAVA Group by 57.4% in the 4th quarter. Allworth Financial LP now owns 650 shares of the company's stock worth $38,000 after buying an additional 237 shares during the period. 73.15% of the stock is owned by hedge funds and other institutional investors.
Key Stories Impacting CAVA Group
Here are the key news stories impacting CAVA Group this week:
- Positive Sentiment: Jim Cramer reiterated a bullish view on CAVA, calling it “the best of the new concepts” and recommending it as a buy, which may help support investor confidence. Article: Jim Cramer Calls CAVA 'Tasty, Clean, Fun,' Says Make This Biotech 'Your Speculation'
- Neutral Sentiment: Analysts remain generally constructive, with a consensus “Moderate Buy” rating and an average price target above the current share price, reinforcing the longer-term growth story for CAVA Group. Article: 2 Restaurant Stocks, 2 Earnings Beats, 2 Very Different Setups
- Neutral Sentiment: A separate piece questioned whether CAVA’s expansion plan can sustain its momentum, but it did not report a new operational setback or financial surprise. Article: Can CAVA's Expansion Plan Sustain Its Momentum?
- Negative Sentiment: Multiple insiders, including CEO Brett Schulman, CFO Tricia K. Tolivar, CAO Adam David Phillips, and executive Theodoros Xenohristos, sold shares near $89.43 to $90.00. While the trades were described as equity-award tax withholding, the broad selling activity may weigh on sentiment. Article: Insider Selling: CAVA Group (NYSE:CAVA) CEO Sells 33,174 Shares of Stock
About CAVA Group
(
Get Free Report)
CAVA Group, Inc (NYSE: CAVA) is a leading fast-casual restaurant company specializing in Mediterranean-inspired cuisine. Operating under the CAVA brand, the company offers customizable bowls, pitas and salads built around a variety of proteins, grains, fresh vegetables and house-made spreads. With a focus on high-quality ingredients and made-to-order preparation, CAVA aims to deliver a casual yet elevated dining experience for dine-in, takeout and catering customers.
Founded in 2011 in the Washington, DC metro area by Ike Grigoropoulos, Dimitri Katsanis and Brett Schulman, CAVA has pursued an aggressive growth strategy that included the 2018 acquisition of Zoe's Kitchen.
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