CAVA Group (NYSE:CAVA) PT Raised to $74.00 at Wedbush

CAVA Group (NYSE:CAVA) had its target price raised by Wedbush from $65.00 to $74.00 in a report released on Tuesday, Benzinga reports. The firm presently has an “outperform” rating on the stock. Wedbush’s price objective suggests a potential upside of 20.19% from the stock’s current price. Wedbush also issued estimates for CAVA Group’s Q1 2024 earnings at $0.06 EPS, Q2 2024 earnings at $0.13 EPS, FY2024 earnings at $0.29 EPS, Q1 2025 earnings at $0.08 EPS, Q2 2025 earnings at $0.15 EPS, Q3 2025 earnings at $0.13 EPS and FY2025 earnings at $0.38 EPS.

Several other research analysts also recently weighed in on the stock. Citigroup boosted their target price on shares of CAVA Group from $49.00 to $60.00 and gave the company a “neutral” rating in a research note on Wednesday, February 28th. TD Cowen restated a “buy” rating and issued a $63.00 price target on shares of CAVA Group in a report on Wednesday, April 10th. Argus raised CAVA Group from a “hold” rating to a “buy” rating and set a $70.00 price target on the stock in a research report on Wednesday, April 10th. Morgan Stanley raised their price target on CAVA Group from $62.00 to $68.00 and gave the company an “overweight” rating in a report on Friday, April 12th. Finally, JPMorgan Chase & Co. raised their target price on CAVA Group from $50.00 to $64.00 and gave the company an “overweight” rating in a research note on Tuesday, March 19th. Four analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $60.42.

CAVA Group Stock Performance

Shares of NYSE CAVA opened at $61.57 on Tuesday. CAVA Group has a one year low of $29.05 and a one year high of $71.60. The company’s fifty day moving average is $60.95 and its two-hundred day moving average is $46.06.

CAVA Group (NYSE:CAVA) last released its quarterly earnings data on Monday, February 26th. The company reported $0.02 EPS for the quarter, topping the consensus estimate of $0.01 by $0.01. CAVA Group had a net margin of 1.82% and a return on equity of 4.28%. The business had revenue of $175.50 million for the quarter, compared to analyst estimates of $240.03 million. CAVA Group’s quarterly revenue was up 52.6% compared to the same quarter last year. On average, equities analysts predict that CAVA Group will post 0.24 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Theodoros Xenohristos sold 47,239 shares of the firm’s stock in a transaction dated Tuesday, March 26th. The stock was sold at an average price of $68.29, for a total transaction of $3,225,951.31. Following the completion of the sale, the director now directly owns 526,521 shares of the company’s stock, valued at approximately $35,956,119.09. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director International S.C.A. Artal sold 2,000,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 21st. The stock was sold at an average price of $66.25, for a total value of $132,500,000.00. Following the transaction, the director now directly owns 26,507,990 shares of the company’s stock, valued at approximately $1,756,154,337.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Theodoros Xenohristos sold 47,239 shares of the firm’s stock in a transaction that occurred on Tuesday, March 26th. The shares were sold at an average price of $68.29, for a total value of $3,225,951.31. Following the completion of the sale, the director now directly owns 526,521 shares in the company, valued at approximately $35,956,119.09. The disclosure for this sale can be found here. In the last ninety days, insiders sold 3,547,239 shares of company stock worth $221,525,951.

Institutional Trading of CAVA Group

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Public Employees Retirement System of Ohio grew its holdings in CAVA Group by 2.8% in the 4th quarter. Public Employees Retirement System of Ohio now owns 6,763 shares of the company’s stock valued at $291,000 after buying an additional 185 shares during the last quarter. CWM LLC boosted its stake in CAVA Group by 101.2% in the 1st quarter. CWM LLC now owns 505 shares of the company’s stock valued at $35,000 after buying an additional 254 shares in the last quarter. PNC Financial Services Group Inc. boosted its stake in CAVA Group by 190.0% in the 3rd quarter. PNC Financial Services Group Inc. now owns 870 shares of the company’s stock valued at $27,000 after buying an additional 570 shares in the last quarter. Nuveen Asset Management LLC boosted its stake in CAVA Group by 1.4% in the 4th quarter. Nuveen Asset Management LLC now owns 42,679 shares of the company’s stock valued at $1,834,000 after buying an additional 570 shares in the last quarter. Finally, Montag A & Associates Inc. acquired a new stake in CAVA Group in the 4th quarter valued at $26,000. Institutional investors and hedge funds own 73.15% of the company’s stock.

About CAVA Group

CAVA Group, Inc owns and operates a chain of restaurants under the CAVA brand in the United States. The company also offers dips, spreads, and dressings through grocery stores. In addition, the company provides online and mobile ordering platforms. Cava Group, Inc was founded in 2006 and is headquartered in Washington, the District of Columbia.