International S.C.A. Artal Sells 2,000,000 Shares of CAVA Group, Inc. (NYSE:CAVA) Stock

CAVA Group, Inc. (NYSE:CAVA) Director International S.C.A. Artal sold 2,000,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 21st. The shares were sold at an average price of $66.25, for a total transaction of $132,500,000.00. Following the transaction, the director now owns 26,507,990 shares in the company, valued at approximately $1,756,154,337.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

CAVA Group Stock Performance

CAVA stock opened at $69.16 on Thursday. CAVA Group, Inc. has a 52-week low of $29.05 and a 52-week high of $69.66. The company has a 50-day moving average of $55.83 and a two-hundred day moving average of $42.74.

CAVA Group (NYSE:CAVA) last released its quarterly earnings results on Monday, February 26th. The company reported $0.02 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.01 by $0.01. CAVA Group had a net margin of 1.82% and a return on equity of 4.28%. The company had revenue of $175.50 million during the quarter, compared to analysts’ expectations of $240.03 million. The firm’s revenue for the quarter was up 52.6% compared to the same quarter last year. Equities analysts anticipate that CAVA Group, Inc. will post 0.24 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in CAVA. Revolution Growth Management Company Inc. acquired a new position in shares of CAVA Group during the second quarter valued at about $265,169,000. Capital Research Global Investors raised its position in shares of CAVA Group by 249.5% during the fourth quarter. Capital Research Global Investors now owns 4,369,281 shares of the company’s stock valued at $187,792,000 after buying an additional 3,119,281 shares during the last quarter. 1832 Asset Management L.P. raised its position in shares of CAVA Group by 79.5% during the fourth quarter. 1832 Asset Management L.P. now owns 2,248,400 shares of the company’s stock valued at $96,636,000 after buying an additional 995,800 shares during the last quarter. Alliancebernstein L.P. acquired a new position in shares of CAVA Group during the second quarter valued at about $30,364,000. Finally, FMR LLC raised its position in shares of CAVA Group by 92.1% during the third quarter. FMR LLC now owns 1,138,113 shares of the company’s stock valued at $34,860,000 after buying an additional 545,799 shares during the last quarter. Institutional investors and hedge funds own 73.15% of the company’s stock.

Analyst Ratings Changes

CAVA has been the topic of a number of research analyst reports. TD Cowen began coverage on shares of CAVA Group in a research note on Wednesday, December 13th. They set an “outperform” rating and a $46.00 price objective on the stock. Citigroup lifted their price target on shares of CAVA Group from $49.00 to $60.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 28th. Argus began coverage on shares of CAVA Group in a research note on Monday, January 29th. They set a “hold” rating on the stock. William Blair reissued an “outperform” rating on shares of CAVA Group in a research note on Tuesday, February 27th. Finally, Robert W. Baird boosted their target price on shares of CAVA Group from $54.00 to $62.00 and gave the company an “outperform” rating in a research note on Thursday, February 15th. Four investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $56.50.

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.