In a recent filing with the Securities and Exchange Commission, Xenohristos Theodoros, a director at CAVA Group, Inc. (NYSE:CAVA), disclosed the sale of a significant portion of his holdings in the company. Theodoros sold a total of 64,000 shares on December 4, 2024, at prices ranging from $145.40 to $147.03 per share. The total value of these transactions amounted to approximately $9.48 million. The sale comes as CAVA's stock has shown remarkable performance, with a 250% gain year-to-date according to InvestingPro data.
Following these sales, Theodoros retains ownership of 359,846 shares, including unvested restricted stock units. The sales were conducted in multiple transactions, reflecting a strategic decision by Theodoros to liquidate a portion of his investment in the fast-casual restaurant chain. With a market capitalization of $17.24 billion and an overall financial health score rated as GREAT by InvestingPro, which offers 16 additional investment insights for this stock, CAVA continues to trade above its Fair Value.
In other recent news, CAVA Group Inc. has been making headlines with robust financial results and positive analyst attention. Bernstein SocGen initiated coverage on CAVA with a Market Perform rating, emphasizing the company's impressive same-store sales growth and successful store expansion. However, the firm also noted that the current stock price reflects high expectations, suggesting limited potential for significant price increases.
CAVA's third-quarter results surpassed 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. William Blair, expressing optimism about CAVA's growth, anticipates the company's adjusted EBITDA to outperform initial guidance by nearly 40% for 2024.
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.
CAVA Group'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 recent developments highlight the strong performance and positive outlook for CAVA Group.
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