Cava group’s CLO Kenneth Robert Bertram sells $84,338 in stock

WASHINGTON, D.C.—Kenneth Robert Bertram, Chief Legal Officer and Secretary of Cava Group, Inc. (NYSE:CAVA), recently sold shares of the company’s common stock valued at $84,338. This transaction was disclosed in a recent regulatory filing with the Securities and Exchange Commission. According to InvestingPro analysis, CAVA currently trades above its Fair Value, with the stock showing remarkable momentum, gaining over 164% in the past year.

The sales, executed on January 27, 2025, involved a total of 678 shares sold at prices ranging from $123.47 to $125.12 per share. These transactions were part of mandatory sell-to-cover arrangements connected with the vesting of restricted stock units (RSUs), as required by Cava Group’s equity incentive plans. The stock currently trades at $135.27, with InvestingPro data showing strong financial health metrics and 15+ additional investment insights available to subscribers.

Following these sales, Bertram retains direct ownership of 57,312 shares of Cava Group. Additionally, he holds indirect ownership of 1,695 shares through family members. The transactions were executed to cover tax withholding obligations and were not discretionary trades by Bertram.

Cava Group, headquartered in Washington, D.C., operates in the retail-eating places sector, offering Mediterranean-inspired cuisine across its locations.

In other recent news, CAVA Group has been the focus of numerous analysts following robust financial results. Bernstein SocGen initiated coverage on CAVA with a Market Perform rating, noting the company’s impressive growth in same-store sales and successful expansion, but also cautioning that the current stock price may limit significant increases.

William Blair expressed optimism about CAVA’s growth, citing strong momentum and exceptional performance, while Piper Sandler raised its price target for CAVA to $142, maintaining a Neutral rating. Loop Capital increased its target to $147, maintaining a Hold rating, and 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, and TD Cowen also adjusted its price target for CAVA Group, raising it to $150 and maintaining a Buy rating.

These recent developments highlight CAVA’s strong performance, with the company’s third-quarter results surpassing expectations, reporting an 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 impressive at $33.5 million.

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. These developments underscore the company’s strong performance and potential in the restaurant industry.

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