CAVA Group, Inc.’s Quiet Period Set To End on July 25th (NYSE:CAVA)

Posted by Defense World Staff on Jul 18th, 2023

CAVA Group’s (NYSE:CAVA – Get Free Report) quiet period will end on Tuesday, July 25th. CAVA Group had issued 14,444,444 shares in its IPO on June 15th. The total size of the offering was $317,777,768 based on an initial share price of $22.00. During the company’s quiet period, insiders and underwriters that worked on the IPO are prevented from issuing any earnings forecasts or research reports for the company because of SEC regulations. Following the expiration of the company’s quiet period, it’s expected that the brokerages that served as underwriters on the stock will initiate research coverage on the company.

Analyst Ratings Changes

Several research firms have recently commented on CAVA. William Blair began coverage on CAVA Group in a report on Monday, July 10th. They issued an “outperform” rating for the company. Piper Sandler began coverage on CAVA Group in a report on Monday, July 10th. They issued an “overweight” rating and a $45.00 price objective for the company. Citigroup began coverage on CAVA Group in a report on Monday, July 10th. They issued a “neutral” rating and a $42.00 price objective for the company. Robert W. Baird started coverage on CAVA Group in a report on Monday, July 10th. They issued an “outperform” rating and a $50.00 price objective for the company. Finally, Stifel Nicolaus started coverage on CAVA Group in a research note on Monday, July 10th. They issued a “buy” rating and a $48.00 price target on the stock. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $45.86.

CAVA Group Price Performance

CAVA opened at $47.58 on Tuesday. CAVA Group has a 1-year low of $36.45 and a 1-year high of $54.86.

Insiders Place Their Bets

In other news, insider Kenneth Robert Bertram acquired 2,295 shares of the stock in a transaction on Tuesday, June 20th. The shares were purchased at an average price of $22.00 per share, for a total transaction of $50,490.00. Following the transaction, the insider now directly owns 1,500 shares of the company’s stock, valued at $33,000. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. In other news, CFO Tricia K. Tolivar acquired 2,500 shares of the stock in a transaction on Tuesday, June 20th. The shares were purchased at an average price of $22.00 per share, for a total transaction of $55,000.00. Following the transaction, the chief financial officer now directly owns 2,500 shares of the company’s stock, valued at $55,000. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Kenneth Robert Bertram acquired 2,295 shares of the stock in a transaction on Tuesday, June 20th. The shares were purchased at an average price of $22.00 per share, for a total transaction of $50,490.00. Following the transaction, the insider now directly owns 1,500 shares in the company, valued at $33,000. The disclosure for this purchase can be found here. Insiders have bought 9,295 shares of company stock worth $204,490 in the last 90 days.

CAVA Group Company Profile

(Get Free Report)

CAVA Group, Inc owns and operates a chain of Mediterranean restaurants. The company offers salads, dips, spreads, toppings, and dressings. It sells its products through whole food markets and grocery stores. The company also provides online food ordering services. Cava Group, Inc was founded in 2006 and is based in Washington, District of Columbia.