Kelly Costanza Sells 1,702 Shares of CAVA Group (NYSE:CAVA) Stock

by · The Markets Daily

CAVA Group, Inc. (NYSE:CAVA – Get Free Report) insider Kelly Costanza sold 1,702 shares of the firm’s stock in a transaction that occurred on Wednesday, January 21st. The shares were sold at an average price of $67.41, for a total value of $114,731.82. Following the completion of the sale, the insider directly owned 120,846 shares of the company’s stock, valued at approximately $8,146,228.86. The trade was a 1.39% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

CAVA Group Stock Performance

CAVA traded up $0.26 during trading hours on Friday, reaching $66.35. The company’s stock had a trading volume of 2,762,397 shares, compared to its average volume of 3,899,031. The company’s 50-day moving average is $57.71 and its 200-day moving average is $65.53. CAVA Group, Inc. has a 52 week low of $43.41 and a 52 week high of $144.49. The firm has a market cap of $7.70 billion, a PE ratio of 57.20, a price-to-earnings-growth ratio of 3.44 and a beta of 2.41.

CAVA Group (NYSE:CAVA – Get Free Report) last issued its quarterly earnings data on Tuesday, November 4th. The company reported $0.12 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.13 by ($0.01). CAVA Group had a return on equity of 8.88% and a net margin of 12.14%.The company had revenue of $292.24 million for the quarter, compared to analyst estimates of $292.88 million. During the same quarter last year, the business earned $0.15 earnings per share. The company’s revenue was up 19.9% on a year-over-year basis. Equities analysts anticipate that CAVA Group, Inc. will post 0.5 earnings per share for the current fiscal year.

Hedge Funds Weigh In On CAVA Group

Several institutional investors have recently modified their holdings of the company. Atlantic Union Bankshares Corp bought a new stake in CAVA Group in the second quarter valued at approximately $31,000. Cornerstone Planning Group LLC increased its stake in CAVA Group by 378.7% during the 3rd quarter. Cornerstone Planning Group LLC now owns 450 shares of the company’s stock valued at $27,000 after purchasing an additional 356 shares in the last quarter. Fifth Third Bancorp purchased a new position in CAVA Group in the 2nd quarter worth approximately $38,000. Whittier Trust Co. lifted its holdings in shares of CAVA Group by 60.9% during the second quarter. Whittier Trust Co. now owns 457 shares of the company’s stock valued at $38,000 after purchasing an additional 173 shares in the last quarter. Finally, Toth Financial Advisory Corp lifted its stake in CAVA Group by 656.7% during the 3rd quarter. Toth Financial Advisory Corp now owns 507 shares of the company’s stock valued at $31,000 after acquiring an additional 440 shares during the period. 73.15% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on CAVA shares. Truist Financial increased their target price on CAVA Group from $66.00 to $78.00 and gave the stock a “buy” rating in a report on Thursday, January 8th. Johnson Rice set a $72.00 target price on CAVA Group in a research report on Monday, January 5th. Sanford C. Bernstein set a $70.00 target price on shares of CAVA Group in a report on Wednesday, January 7th. Morgan Stanley cut their target price on shares of CAVA Group from $86.00 to $80.00 and set an “equal weight” rating on the stock in a research report on Tuesday. Finally, Stifel Nicolaus set a $75.00 price target on shares of CAVA Group in a report on Wednesday, November 5th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and nine have issued a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $81.57.

Read Our Latest Report on CAVA

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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