Fubotv earnings beat by $0.10, revenue topped estimates
WASHINGTON—Brett Schulman, CEO and President of Cava Group, Inc. (NYSE:CAVA), reported the sale of company stock valued at approximately $365,217, according to a recent SEC filing. The transactions, which took place on January 27, involved the sale of 2,936 shares of common stock at prices ranging from $123.47 to $125.12 per share. The stock, which has delivered an impressive 164% return over the past year according to InvestingPro, currently trades at $135.27, near its 52-week high of $172.43.
These sales were conducted to cover tax withholding obligations related to the vesting of restricted stock units (RSUs), as mandated by the company’s equity incentive plans. Following the transactions, Schulman holds 773,433 shares directly. Additionally, he retains indirect ownership of 57,495 shares through his spouse and 682,710 shares through an LLC. With a market capitalization of $14.43 billion and a GOOD financial health rating from InvestingPro, CAVA maintains strong fundamentals despite trading at elevated valuation multiples. Discover 15+ additional exclusive insights and comprehensive analysis available through InvestingPro’s detailed research reports.
The transactions were part of a broader set of sales carried out by a broker on behalf of Cava employees, including Schulman, as part of mandatory sell-to-cover transactions associated with the vesting of RSUs.
In other recent news, CAVA Group Inc . has been a focal point for analysts following its strong third-quarter performance. The company reported a significant 18.1% increase in same-store sales and a 39% surge in revenue to $241.5 million. The adjusted EBITDA for the quarter was also notable at $33.5 million.
Several firms have adjusted their outlook on CAVA Group. Bernstein SocGen initiated coverage on the stock with a Market Perform rating, citing the company’s impressive growth but also suggesting the current stock price already reflects high expectations. Piper Sandler, Loop Capital, Morgan Stanley (NYSE:MS), and TD Cowen all raised their price targets, while CFRA upgraded their rating from Hold to Buy.
William Blair expressed optimism about CAVA’s growth, anticipating the company’s adjusted EBITDA to outperform initial guidance by nearly 40% for 2024. The firm also adjusted estimates for 2025 and 2026 to 80-90% above initial expectations.
These recent developments highlight the strong performance and positive outlook for CAVA Group. The company’s management has provided guidance for the upcoming year, anticipating a minimum net unit growth of 17% for 2025 and expecting restaurant-level margins to remain in line with the levels projected for 2024.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.