Kenneth Robert Bertram, Chief Legal Officer and Secretary of Cava Group, Inc. (NYSE:CAVA), recently sold 5,004 shares of the company's common stock. According to a recent SEC filing, the shares were sold at an average price of $150.27, totaling approximately $751,951. Following this transaction, Bertram holds 58,837 shares directly. The sale comes amid CAVA's remarkable year, with the stock delivering a 251% return year-to-date, according to InvestingPro data.
In addition to his direct holdings, Bertram has indirect ownership of 1,500 shares through his spouse and 195 shares through his daughter. The filing notes that some of the directly owned shares include unvested restricted stock units. With CAVA's market capitalization now at $17.29 billion and trading above its Fair Value according to InvestingPro analysis, investors can access detailed valuation metrics and 16 additional ProTips through the comprehensive Pro Research Report available on the platform.
In other recent news, CAVA Group Inc. has been the subject of multiple analyst adjustments following robust third-quarter financial results. Bernstein SocGen initiated coverage on the company with a Market Perform rating, acknowledging the company's impressive growth but advising caution due to the stock's full valuation. William Blair expressed optimism about CAVA's growth, citing strong momentum and exceptional performance. The firm anticipates 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.
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 recent developments highlight the strong performance and positive outlook for CAVA Group.
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