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

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

CAVA Group Price Performance

CAVA stock opened at $135.27 on Thursday. The company’s 50 day simple moving average is $125.38 and its 200-day simple moving average is $119.44. CAVA Group, Inc. has a 12 month low of $46.56 and a 12 month high of $172.43. The firm has a market capitalization of $15.50 billion, a PE ratio of 294.06 and a beta of 3.21.

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

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. GAMMA Investing LLC boosted its stake in shares of CAVA Group by 68.3% during the 3rd quarter. GAMMA Investing LLC now owns 308 shares of the company’s stock worth $38,000 after purchasing an additional 125 shares during the last quarter. Golden State Wealth Management LLC purchased a new position in shares of CAVA Group during the fourth quarter valued at approximately $47,000. R Squared Ltd acquired a new stake in CAVA Group during the fourth quarter worth approximately $49,000. Sunbelt Securities Inc. purchased a new stake in CAVA Group in the 3rd quarter worth approximately $50,000. Finally, Burkett Financial Services LLC acquired a new position in CAVA Group in the 4th quarter valued at $56,000. Institutional investors and hedge funds own 73.15% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the stock. 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 note on Wednesday, November 13th. Citigroup increased their target price on CAVA Group from $140.00 to $163.00 and gave the stock a “neutral” rating in a research note on Wednesday, November 13th. William Blair restated an “outperform” rating on shares of CAVA Group in a research note on Wednesday, November 13th. Morgan Stanley increased their price objective on CAVA Group from $123.00 to $135.00 and gave the stock an “equal weight” rating in a research report on Thursday, November 14th. Finally, Robert W. Baird boosted their target price on shares of CAVA Group from $125.00 to $148.00 and gave the stock an “outperform” rating in a research report on Monday, November 4th. Eight analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, CAVA Group presently 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.