Ronald M. Shaich Sells 1,231,979 Shares of CAVA Group, Inc. (NYSE:CAVA) Stock

CAVA Group, Inc. (NYSE:CAVAGet Free Report) Director Ronald M. Shaich sold 1,231,979 shares of the business’s stock in a transaction dated Wednesday, June 5th. The stock was sold at an average price of $87.25, for a total transaction of $107,490,167.75. Following the completion of the sale, the director now owns 5,000 shares in the company, valued at $436,250. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

CAVA Group Price Performance

Shares of CAVA opened at $85.04 on Friday. The company has a market capitalization of $9.70 billion and a price-to-earnings ratio of 207.42. CAVA Group, Inc. has a fifty-two week low of $29.05 and a fifty-two week high of $96.93. The business’s 50-day moving average is $73.18 and its 200-day moving average is $57.38.

CAVA Group (NYSE:CAVAGet Free Report) last issued its earnings results on Tuesday, May 28th. The company reported $0.12 earnings per share for the quarter, beating analysts’ consensus estimates of $0.04 by $0.08. The company had revenue of $259.01 million for the quarter, compared to the consensus estimate of $246.02 million. CAVA Group had a return on equity of 5.18% and a net margin of 3.75%. The business’s quarterly revenue was up 27.5% compared to the same quarter last year. Equities research analysts expect that CAVA Group, Inc. will post 0.34 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have commented on CAVA. William Blair reiterated an “outperform” rating on shares of CAVA Group in a research report on Tuesday, February 27th. Robert W. Baird boosted their price objective on CAVA Group from $90.00 to $92.00 and gave the stock an “outperform” rating in a report on Wednesday, May 29th. Morgan Stanley boosted their price objective on CAVA Group from $68.00 to $85.00 and gave the stock an “overweight” rating in a report on Wednesday, May 29th. Citigroup boosted their price objective on CAVA Group from $60.00 to $81.00 and gave the stock a “neutral” rating in a report on Tuesday, May 21st. Finally, Argus upgraded CAVA Group from a “hold” rating to a “buy” rating and set a $70.00 price objective on the stock in a report on Wednesday, April 10th. Six investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat.com, CAVA Group has an average rating of “Moderate Buy” and a consensus target price of $81.08.

Check Out Our Latest Analysis on CAVA

Institutional Investors Weigh In On CAVA Group

Several large investors have recently made changes to their positions in the company. Capital Research Global Investors grew its stake 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 valued at $372,059,000 after buying an additional 942,054 shares in the last quarter. Vanguard Group Inc. grew its stake in shares of CAVA Group by 215.7% in the 1st quarter. Vanguard Group Inc. now owns 4,944,036 shares of the company’s stock valued at $346,330,000 after buying an additional 3,377,840 shares in the last quarter. 1832 Asset Management L.P. grew its stake in shares of CAVA Group by 79.5% in the 4th quarter. 1832 Asset Management L.P. now owns 2,248,400 shares of the company’s stock valued at $96,636,000 after buying an additional 995,800 shares in the last quarter. Lord Abbett & CO. LLC grew its stake in shares of CAVA Group by 55.9% in the 1st quarter. Lord Abbett & CO. LLC now owns 1,373,749 shares of the company’s stock valued at $96,231,000 after buying an additional 492,667 shares in the last quarter. Finally, Jennison Associates LLC grew its stake in shares of CAVA Group by 24.7% in the 4th quarter. Jennison Associates LLC now owns 1,222,240 shares of the company’s stock valued at $52,532,000 after buying an additional 242,376 shares in the last quarter. Institutional investors own 73.15% of the company’s stock.

CAVA Group Company Profile

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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.

Further Reading

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