Karen Kochevar Sells 15,000 Shares of CAVA Group, Inc. (NYSE:CAVA) Stock

by · The Markets Daily

CAVA Group, Inc. (NYSE:CAVA – Get Free Report) Director Karen Kochevar sold 15,000 shares of the company’s stock in a transaction on Friday, November 15th. The shares were sold at an average price of $140.00, for a total transaction of $2,100,000.00. Following the completion of the sale, the director now directly owns 1,307 shares of the company’s stock, valued at $182,980. This trade represents a 91.99 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

CAVA Group Price Performance

Shares of NYSE:CAVA traded up $4.01 during trading on Tuesday, hitting $141.25. The company’s stock had a trading volume of 4,372,217 shares, compared to its average volume of 2,783,802. The company has a 50-day moving average of $131.69 and a 200-day moving average of $104.72. CAVA Group, Inc. has a 12 month low of $31.47 and a 12 month high of $172.43. The firm has a market cap of $16.18 billion, a price-to-earnings ratio of 298.33 and a beta of 3.23.

CAVA Group (NYSE:CAVA – Get Free Report) last released its quarterly earnings data on Tuesday, November 12th. The company reported $0.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.11 by $0.04. The firm had revenue of $243.82 million for 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 company’s revenue for the quarter was up 38.9% compared to the same quarter last year. During the same quarter last year, the business posted $0.06 earnings per share. As a group, research analysts anticipate that CAVA Group, Inc. will post 0.5 earnings per share for the current year.

Analyst Ratings Changes

Several research analysts have commented on the stock. Citigroup upped their price objective on shares of CAVA Group from $140.00 to $163.00 and gave the stock a “neutral” rating in a report on Wednesday, November 13th. Robert W. Baird upped their price objective on shares of CAVA Group from $125.00 to $148.00 and gave the stock an “outperform” rating in a report on Monday, November 4th. TD Cowen increased their price target on shares of CAVA Group from $130.00 to $150.00 and gave the stock a “buy” rating in a research note on Wednesday, November 13th. Jefferies Financial Group increased their price target on shares of CAVA Group from $94.00 to $117.00 and gave the stock a “buy” rating in a research note on Friday, August 23rd. Finally, Loop Capital increased their price target on shares of CAVA Group from $122.00 to $147.00 and gave the stock a “hold” rating in a research note on Thursday, November 14th. Seven research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $143.71.

Check Out Our Latest Stock Report on CAVA

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. Sunbelt Securities Inc. purchased a new position in CAVA Group during the third quarter worth $50,000. Geode Capital Management LLC boosted its stake in shares of CAVA Group by 121.0% during the third quarter. Geode Capital Management LLC now owns 1,222,834 shares of the company’s stock valued at $151,492,000 after purchasing an additional 669,599 shares during the period. Conway Capital Management Inc. purchased a new stake in shares of CAVA Group during the third quarter valued at $5,524,000. M&T Bank Corp boosted its stake in shares of CAVA Group by 75.2% during the third quarter. M&T Bank Corp now owns 6,320 shares of the company’s stock valued at $783,000 after purchasing an additional 2,712 shares during the period. Finally, Nomura Asset Management Co. Ltd. purchased a new stake in shares of CAVA Group during the third quarter valued at $285,000. 73.15% of the stock is owned by hedge funds and other institutional investors.

CAVA Group Company Profile

(Get Free Report)

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.

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