Brett Schulman, CEO and President of CAVA Group, Inc. (NYSE:CAVA), recently executed a series of stock transactions, according to a regulatory filing. On December 5, Schulman sold shares totaling approximately $49,069,620 at a price of $150.06 per share. The transaction comes as CAVA's stock has delivered an impressive 251% return year-to-date, with the company's market capitalization reaching $17.29 billion. This sale was part of a larger set of transactions that included multiple acquisitions of common stock through the exercise of stock options at prices ranging from $1.28 to $7.56. These acquisitions amounted to a total of $2,344,631. Following these transactions, Schulman retains direct ownership of 716,090 shares, which includes unvested restricted stock units. According to InvestingPro analysis, CAVA maintains strong financial health with 34% revenue growth and trades above its calculated Fair Value. For deeper insights into insider trading patterns and comprehensive valuation metrics, investors can access the detailed Pro Research Report, available exclusively to InvestingPro subscribers.
In other recent news, CAVA Group has been making waves with impressive financial results and positive analyst attention. The company reported a significant 18.1% increase in same-store sales in the third quarter, contributing to a 39% surge in revenue to $241.5 million. The adjusted EBITDA for the quarter was also noteworthy at $33.5 million. Bernstein SocGen initiated coverage on CAVA Group with a Market Perform rating and a price target set at $145.00, highlighting the company's impressive growth and expansion.
However, the firm suggested that the current stock price already reflects high expectations. William Blair expressed optimism about CAVA's growth, citing strong momentum and exceptional performance. They anticipate CAVA's adjusted EBITDA to outperform initial guidance by nearly 40% for 2024 and estimates for 2025 and 2026 have been adjusted to 80-90% above initial expectations.
Several analyst firms have adjusted their outlook on CAVA Group. Piper Sandler raised its price target to $142, maintaining a Neutral rating. Loop Capital increased its target to $147, maintaining a Hold rating. Morgan Stanley (NYSE:MS) raised its target to $135, keeping an Equalweight rating. CFRA upgraded their rating from Hold to Buy, with a new price target of $200. TD Cowen also adjusted its price target for CAVA Group, raising it to $150 and maintaining a Buy rating. These recent developments highlight the strong performance and positive outlook for CAVA Group.
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