Key Points
- CAVA Group director Karen Kochevar sold 10,000 shares on June 18 at an average price of $90.00, totaling $900,000. After the sale, she held 3,074 shares, a 76.49% reduction in her ownership.
- The stock was down 3.9% as the article noted CAVA opened at $77.75, well below its 52-week high of $98.79 but above its 52-week low of $43.41.
- Recent operating results were strong: CAVA beat quarterly EPS and revenue estimates, with revenue up 32.1% year over year. Analysts remain broadly positive, with a consensus rating of Moderate Buy and an average price target of $93.37.
CAVA Group, Inc. (NYSE:CAVA - Get Free Report) Director Karen Kochevar sold 10,000 shares of the stock in a transaction dated Thursday, June 18th. The shares were sold at an average price of $90.00, for a total transaction of $900,000.00. Following the completion of the sale, the director owned 3,074 shares of the company's stock, valued at $276,660. This trade represents a 76.49% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.
CAVA Group Trading Down 3.9%
CAVA opened at $77.75 on Wednesday. CAVA Group, Inc. has a twelve month low of $43.41 and a twelve month high of $98.79. The firm has a market capitalization of $9.06 billion, a PE ratio of 149.52, a PEG ratio of 5.54 and a beta of 1.70. The firm's 50-day moving average price is $83.92 and its 200 day moving average price is $74.81.
CAVA Group (NYSE:CAVA - Get Free Report) last released its quarterly earnings data on Tuesday, May 19th. The company reported $0.20 EPS for the quarter, beating analysts' consensus estimates of $0.17 by $0.03. The company had revenue of $438.27 million during the quarter, compared to the consensus estimate of $360.89 million. CAVA Group had a net margin of 4.79% and a return on equity of 7.92%. CAVA Group's quarterly revenue was up 32.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.22 EPS. As a group, analysts predict that CAVA Group, Inc. will post 0.55 earnings per share for the current fiscal year.
Analyst Upgrades and Downgrades
A number of equities analysts have weighed in on CAVA shares. Wolfe Research initiated coverage on CAVA Group in a research note on Monday, March 9th. They set an "outperform" rating and a $93.00 price objective on the stock. Mizuho increased their price target on shares of CAVA Group from $72.00 to $80.00 and gave the company a "neutral" rating in a research note on Thursday, April 2nd. Robert W. Baird upped their price objective on CAVA Group from $88.00 to $98.00 and gave the company an "outperform" rating in a report on Wednesday, May 20th. Argus set a $92.00 price target on shares of CAVA Group in a research note on Friday, May 22nd. Finally, Truist Financial increased their target price on CAVA Group from $80.00 to $85.00 and gave the stock a "buy" rating in a research note on Wednesday, February 25th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $93.37.
Check Out Our Latest Report on CAVA
Institutional Trading of CAVA Group
Large investors have recently made changes to their positions in the company. Liontrust Investment Partners LLP purchased a new position in shares of CAVA Group in the 3rd quarter valued at about $43,189,000. Leibman Financial Services Inc. increased its stake in CAVA Group by 162.9% in the fourth quarter. Leibman Financial Services Inc. now owns 67,324 shares of the company's stock valued at $3,951,000 after purchasing an additional 41,712 shares during the last quarter. Alliancebernstein L.P. raised its holdings in CAVA Group by 118.3% during the third quarter. Alliancebernstein L.P. now owns 2,953,688 shares of the company's stock worth $178,432,000 after purchasing an additional 1,600,630 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. boosted its holdings in shares of CAVA Group by 20.4% in the 3rd quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 103,706 shares of the company's stock valued at $6,265,000 after buying an additional 17,600 shares in the last quarter. Finally, William Blair Investment Management LLC purchased a new position in shares of CAVA Group in the 3rd quarter valued at $114,098,000. 73.15% of the stock is currently owned by hedge funds and other institutional investors.
CAVA Group Company Profile
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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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