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

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

CAVA Group Price Performance

Shares of NYSE:CAVA opened at $139.64 on Thursday. CAVA Group, Inc. has a 1 year low of $31.47 and a 1 year high of $172.43. The company has a market cap of $16.00 billion, a PE ratio of 303.57 and a beta of 3.23. The stock’s 50-day moving average is $132.46 and its 200 day moving average is $105.70.

CAVA Group (NYSE:CAVA) last announced its quarterly earnings results on Tuesday, November 12th. The company reported $0.15 earnings per share (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 company had revenue of $243.82 million for the quarter, compared to the consensus estimate of $233.05 million. During the same quarter in the previous year, the business earned $0.06 EPS. CAVA Group’s revenue was up 38.9% compared to the same quarter last year. Analysts expect that CAVA Group, Inc. will post 0.5 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Virtu Financial LLC grew its holdings in shares of CAVA Group by 306.9% during the 3rd quarter. Virtu Financial LLC now owns 40,088 shares of the company’s stock worth $4,965,000 after acquiring an additional 30,235 shares during the period. Sunbelt Securities Inc. purchased a new position in shares of CAVA Group during the 3rd quarter worth approximately $50,000. Geode Capital Management LLC grew its holdings in shares of CAVA Group by 121.0% during the 3rd quarter. Geode Capital Management LLC now owns 1,222,834 shares of the company’s stock worth $151,492,000 after acquiring an additional 669,599 shares during the period. Conway Capital Management Inc. purchased a new position in shares of CAVA Group during the 3rd quarter worth approximately $5,524,000. Finally, M&T Bank Corp boosted its position in shares of CAVA Group by 75.2% in the 3rd quarter. M&T Bank Corp now owns 6,320 shares of the company’s stock worth $783,000 after purchasing an additional 2,712 shares in the last quarter. Hedge funds and other institutional investors own 73.15% of the company’s stock.

Wall Street Analyst Weigh In

CAVA has been the subject of several research analyst reports. Citigroup lifted their price objective on CAVA Group from $140.00 to $163.00 and gave the company a “neutral” rating in a research note on Wednesday, November 13th. Barclays lifted their price target on CAVA Group from $113.00 to $142.00 and gave the stock an “equal weight” rating in a research note on Wednesday, November 13th. TD Cowen lifted their price target on CAVA Group from $130.00 to $150.00 and gave the stock a “buy” rating in a research note on Wednesday, November 13th. JPMorgan Chase & Co. lifted their price target on CAVA Group from $90.00 to $110.00 and gave the stock a “neutral” rating in a research note on Wednesday, November 13th. Finally, Jefferies Financial Group lifted their price objective on CAVA Group from $94.00 to $117.00 and gave the stock a “buy” rating in a report on Friday, August 23rd. Eight research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $143.80.

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.