CAVA Group (NYSE:CAVA) Reaches New 52-Week High at $74.58

CAVA Group, Inc. (NYSE:CAVA) shares reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $74.58 and last traded at $72.83, with a volume of 1351816 shares changing hands. The stock had previously closed at $70.59.

Wall Street Analyst Weigh In

A number of analysts recently commented on CAVA shares. Argus upgraded shares of CAVA Group from a “hold” rating to a “buy” rating and set a $70.00 target price for the company in a research note on Wednesday, April 10th. Citigroup lifted their price objective on shares of CAVA Group from $49.00 to $60.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 28th. Robert W. Baird upped their target price on CAVA Group from $54.00 to $62.00 and gave the company an “outperform” rating in a research report on Thursday, February 15th. Wedbush lifted their price target on CAVA Group from $65.00 to $74.00 and gave the stock an “outperform” rating in a research report on Tuesday, April 16th. Finally, William Blair reissued an “outperform” rating on shares of CAVA Group in a report on Tuesday, February 27th. Four analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $60.42.

CAVA Group Stock Performance

The business’s 50 day moving average price is $63.17 and its 200 day moving average price is $48.36.

CAVA Group (NYSE:CAVA) last released its quarterly earnings results on Monday, February 26th. The company reported $0.02 EPS for the quarter, beating 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 company had revenue of $175.50 million for the quarter, compared to analyst estimates of $240.03 million. The company’s quarterly revenue was up 52.6% on a year-over-year basis. Research analysts forecast that CAVA Group, Inc. will post 0.25 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, major shareholder Ronald M. Shaich sold 1,500,000 shares of the business’s stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $57.20, for a total value of $85,800,000.00. Following the completion of the sale, the insider now directly owns 4,457,634 shares in the company, valued at $254,976,664.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other CAVA Group news, major shareholder Ronald M. Shaich sold 1,500,000 shares of the stock in a transaction on Monday, March 4th. The shares were sold at an average price of $57.20, for a total transaction of $85,800,000.00. Following the transaction, the insider now directly owns 4,457,634 shares of the company’s stock, valued at $254,976,664.80. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Theodoros Xenohristos sold 47,239 shares of the business’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 sale, the director now directly owns 526,521 shares of the company’s stock, valued at approximately $35,956,119.09. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 3,547,239 shares of company stock worth $221,525,951.

Institutional Investors Weigh In On CAVA Group

A number of large investors have recently modified their holdings of CAVA. CWM LLC lifted its stake in shares of CAVA Group by 101.2% in the first quarter. CWM LLC now owns 505 shares of the company’s stock worth $35,000 after buying an additional 254 shares in the last quarter. Miracle Mile Advisors LLC boosted its holdings in shares of CAVA Group by 4.4% during the 1st quarter. Miracle Mile Advisors LLC now owns 7,574 shares of the company’s stock worth $531,000 after purchasing an additional 318 shares during the last quarter. PNC Financial Services Group Inc. grew its position in shares of CAVA Group by 190.0% in the third quarter. PNC Financial Services Group Inc. now owns 870 shares of the company’s stock valued at $27,000 after purchasing an additional 570 shares in the last quarter. Montag A & Associates Inc. acquired a new stake in shares of CAVA Group in the fourth quarter valued at approximately $26,000. Finally, PSI Advisors LLC lifted its position in CAVA Group by 1,133.3% during the first quarter. PSI Advisors LLC now owns 925 shares of the company’s stock worth $65,000 after buying an additional 850 shares in the last quarter. Hedge funds and other institutional investors own 73.15% of the company’s stock.

CAVA Group Company Profile

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.