Analysts Set CAVA Group, Inc. (NYSE:CAVA) Price Target at $60.42

CAVA Group, Inc. (NYSE:CAVA) has earned a consensus rating of “Moderate Buy” from the fourteen ratings firms that are presently covering the company, Marketbeat.com reports. Four equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is $60.42.

A number of research firms have weighed in on CAVA. JPMorgan Chase & Co. lifted their price objective on shares of CAVA Group from $50.00 to $64.00 and gave the company an “overweight” rating in a report on Tuesday, March 19th. Wedbush raised their price objective on CAVA Group from $65.00 to $74.00 and gave the company an “outperform” rating in a report on Tuesday, April 16th. Barclays began coverage on CAVA Group in a research note on Monday, April 15th. They set an “equal weight” rating and a $58.00 target price for the company. TD Cowen reissued a “buy” rating and issued a $63.00 price target on shares of CAVA Group in a report on Wednesday, April 10th. Finally, Piper Sandler boosted their target price on shares of CAVA Group from $46.00 to $63.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 28th.

CAVA Group Price Performance

Shares of CAVA opened at $74.21 on Friday. The company’s fifty day moving average price is $64.78 and its 200-day moving average price is $49.54. CAVA Group has a 1-year low of $29.05 and a 1-year high of $77.14.

CAVA Group (NYSE:CAVA) last announced its quarterly earnings data on Monday, February 26th. The company reported $0.02 earnings per share for the quarter, beating analysts’ consensus estimates of $0.01 by $0.01. The business had revenue of $175.50 million for the quarter, compared to analyst estimates of $240.03 million. CAVA Group had a return on equity of 4.28% and a net margin of 1.82%. CAVA Group’s quarterly revenue was up 52.6% compared to the same quarter last year. As a group, equities research analysts predict that CAVA Group will post 0.25 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Director International S.C.A. Artal sold 2,000,000 shares of the company’s stock in a transaction 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 owns 26,507,990 shares of the company’s stock, valued at approximately $1,756,154,337.50. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, Director Theodoros Xenohristos sold 47,239 shares of the company’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 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 sale was disclosed in a legal filing with the SEC, which is available through this link. Also, 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 shares were sold at an average price of $66.25, for a total transaction of $132,500,000.00. Following the completion of 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 disclosure for this sale can be found here. Over the last three months, insiders sold 3,547,239 shares of company stock worth $221,525,951.

Institutional Investors Weigh In On CAVA Group

Large investors have recently bought and sold shares of the stock. Capital Research Global Investors raised its holdings in CAVA Group by 249.5% in the fourth quarter. Capital Research Global Investors now owns 4,369,281 shares of the company’s stock valued at $187,792,000 after acquiring an additional 3,119,281 shares in the last quarter. 1832 Asset Management L.P. increased its holdings in CAVA Group by 79.5% in the fourth quarter. 1832 Asset Management L.P. now owns 2,248,400 shares of the company’s stock valued at $96,636,000 after buying an additional 995,800 shares during the last quarter. Artemis Investment Management LLP acquired a new stake in CAVA Group in the first quarter valued at $38,225,000. FMR LLC boosted its position in shares of CAVA Group by 92.1% during the 3rd quarter. FMR LLC now owns 1,138,113 shares of the company’s stock worth $34,860,000 after acquiring an additional 545,799 shares in the last quarter. Finally, Armstrong Fleming & Moore Inc purchased a new position in shares of CAVA Group in the 4th quarter valued at about $16,341,000. Hedge funds and other institutional investors 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.