Kenneth Robert Bertram Sells 678 Shares of CAVA Group, Inc. (NYSE:CAVA) Stock

CAVA Group, Inc. (NYSE:CAVA) insider Kenneth Robert Bertram sold 678 shares of the business’s stock in a transaction that occurred on Monday, January 27th. The shares were sold at an average price of $124.39, for a total value of $84,336.42. Following the transaction, the insider now directly owns 57,312 shares in the company, valued at approximately $7,129,039.68. This represents a 1.17 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website.

CAVA Group Price Performance

Shares of NYSE CAVA opened at $138.89 on Friday. The stock has a market capitalization of $15.91 billion, a P/E ratio of 301.94 and a beta of 3.21. CAVA Group, Inc. has a 1-year low of $46.56 and a 1-year high of $172.43. The business has a fifty day moving average price of $125.26 and a 200 day moving average price of $119.58.

CAVA Group (NYSE:CAVA) last issued its quarterly earnings data on Tuesday, November 12th. The company reported $0.15 earnings per share for the quarter, topping analysts’ consensus estimates of $0.11 by $0.04. The firm had revenue of $243.82 million during the quarter, compared to analysts’ expectations of $233.05 million. CAVA Group had a return on equity of 9.10% and a net margin of 5.88%. The firm’s quarterly revenue was up 38.9% on a year-over-year basis. During the same period in the prior year, the business posted $0.06 EPS. As a group, equities research analysts anticipate that CAVA Group, Inc. will post 0.5 earnings per share for the current fiscal year.

Institutional Investors Weigh In On CAVA Group

A number of hedge funds have recently made changes to their positions in CAVA. Jennison Associates LLC lifted its stake in shares of CAVA Group by 36,658.7% during the 4th quarter. Jennison Associates LLC now owns 2,461,732 shares of the company’s stock worth $277,683,000 after purchasing an additional 2,455,035 shares during the last quarter. Geode Capital Management LLC raised its stake in CAVA Group by 121.0% in 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 last quarter. Charles Schwab Investment Management Inc. raised its stake 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 valued at $63,918,000 after buying an additional 373,835 shares during the last quarter. Two Sigma Advisers LP raised its stake in CAVA Group by 17.0% in the third quarter. Two Sigma Advisers LP now owns 2,210,900 shares of the company’s stock valued at $273,820,000 after buying an additional 321,800 shares during the last quarter. Finally, State Street Corp raised its stake in CAVA Group by 33.3% in the third quarter. State Street Corp now owns 1,267,333 shares of the company’s stock valued at $156,959,000 after buying an additional 316,514 shares during the last quarter. 73.15% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the company. Barclays cut their price objective on CAVA Group from $142.00 to $127.00 and set an “equal weight” rating on the stock in a research report on Tuesday, January 7th. Robert W. Baird upped their price objective on CAVA Group from $125.00 to $148.00 and gave the company an “outperform” rating in a research report on Monday, November 4th. UBS Group cut their price objective on CAVA Group from $160.00 to $125.00 and set a “neutral” rating on the stock in a research report on Tuesday, January 7th. Sanford C. Bernstein assumed coverage on CAVA Group in a research report on Wednesday, November 20th. They issued a “market perform” rating and a $145.00 price objective on the stock. Finally, JPMorgan Chase & Co. upped their price objective on CAVA Group from $90.00 to $110.00 and gave the company a “neutral” rating in a research report on Wednesday, November 13th. Eight analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, CAVA Group has an average rating of “Moderate Buy” and a consensus price target of $142.13.

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.