Adam David Phillips Sells 615 Shares of CAVA Group, Inc. (NYSE:CAVA) Stock

CAVA Group, Inc. (NYSE:CAVA) CAO Adam David Phillips sold 615 shares of the business’s stock in a transaction on Monday, January 27th. The stock was sold at an average price of $124.39, for a total transaction of $76,499.85. Following the completion of the transaction, the chief accounting officer now directly owns 10,884 shares in the company, valued at $1,353,860.76. This trade represents a 5.35 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link.

CAVA Group Stock Performance

NYSE:CAVA traded up $9.31 during mid-day trading on Wednesday, hitting $135.27. 3,500,334 shares of the company’s stock traded hands, compared to its average volume of 2,087,557. The company has a market capitalization of $15.50 billion, a P/E ratio of 294.06 and a beta of 3.21. The company has a fifty day moving average of $125.46 and a 200 day moving average of $119.33. CAVA Group, Inc. has a twelve month low of $46.56 and a twelve month high of $172.43.

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

Institutional Trading of CAVA Group

Institutional investors and hedge funds have recently bought and sold shares of the business. Conway Capital Management Inc. purchased a new position in shares of CAVA Group during the third quarter worth $5,524,000. SpiderRock Advisors LLC lifted its holdings in shares of CAVA Group by 8.9% in the 3rd quarter. SpiderRock Advisors LLC now owns 479,319 shares of the company’s stock valued at $59,364,000 after buying an additional 39,319 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in shares of CAVA Group by 262.8% in the third quarter. Charles Schwab Investment Management Inc. now owns 516,092 shares of the company’s stock worth $63,918,000 after buying an additional 373,835 shares during the last quarter. PFG Investments LLC grew its holdings in CAVA Group by 36.8% during the third quarter. PFG Investments LLC now owns 15,907 shares of the company’s stock worth $1,970,000 after acquiring an additional 4,275 shares during the period. Finally, Aigen Investment Management LP purchased a new position in CAVA Group during the third quarter valued at approximately $1,293,000. 73.15% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on CAVA shares. JPMorgan Chase & Co. boosted their price target on shares of CAVA Group from $90.00 to $110.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 13th. Robert W. Baird raised their price target on CAVA Group from $125.00 to $148.00 and gave the stock an “outperform” rating in a research report on Monday, November 4th. Piper Sandler upped their price target on shares of CAVA Group from $100.00 to $142.00 and gave the company a “neutral” rating in a report on Friday, November 15th. Wedbush raised their price objective on shares of CAVA Group from $155.00 to $190.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 13th. Finally, Sanford C. Bernstein initiated coverage on CAVA Group in a research note on Wednesday, November 20th. They set a “market perform” rating and a $145.00 target price on the stock. Eight analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $142.13.

CAVA Group Company Profile

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.