CAVA Group (NYSE:CAVA) Hits New 12-Month High at $96.93

CAVA Group, Inc. (NYSE:CAVAGet Free Report)’s share price hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $96.93 and last traded at $96.31, with a volume of 1479608 shares trading hands. The stock had previously closed at $93.94.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on CAVA shares. Stifel Nicolaus upped their price objective on shares of CAVA Group from $66.00 to $90.00 and gave the stock a “buy” rating in a research report on Friday, May 24th. Robert W. Baird upped their price objective on CAVA Group from $90.00 to $92.00 and gave the company an “outperform” rating in a research note on Wednesday, May 29th. Piper Sandler downgraded CAVA Group from an “overweight” rating to a “neutral” rating and upped their price objective for the company from $63.00 to $92.00 in a research note on Thursday, May 30th. Morgan Stanley increased their target price on shares of CAVA Group from $68.00 to $85.00 and gave the company an “overweight” rating in a research report on Wednesday, May 29th. Finally, Citigroup increased their target price on shares of CAVA Group from $60.00 to $81.00 and gave the company a “neutral” rating in a research report on Tuesday, May 21st. Six equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $81.50.

View Our Latest Analysis on CAVA

CAVA Group Trading Up 1.5 %

The stock has a market capitalization of $10.88 billion and a PE ratio of 232.59. The firm has a 50-day moving average price of $76.24 and a 200-day moving average price of $59.97.

CAVA Group (NYSE:CAVAGet Free Report) last announced its quarterly earnings data on Tuesday, May 28th. The company reported $0.12 earnings per share for the quarter, topping the consensus estimate of $0.04 by $0.08. The company had revenue of $259.01 million during the quarter, compared to analyst estimates of $246.02 million. CAVA Group had a return on equity of 5.18% and a net margin of 3.75%. The business’s revenue for the quarter was up 27.5% on a year-over-year basis. Sell-side analysts expect that CAVA Group, Inc. will post 0.34 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director International S.C.A. Artal sold 2,000,000 shares of the stock in a transaction that occurred on Thursday, March 21st. The stock was sold at an average price of $66.25, for a total transaction of $132,500,000.00. Following the completion of the sale, the director now owns 26,507,990 shares of the company’s stock, valued at $1,756,154,337.50. The transaction was disclosed in a legal 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 stock was sold at an average price of $68.29, for a total transaction of $3,225,951.31. Following the completion of the transaction, the director now owns 526,521 shares in the company, valued at $35,956,119.09. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director International S.C.A. Artal sold 2,000,000 shares of the 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 completion of the transaction, the director now 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. Insiders sold a total of 3,279,218 shares of company stock valued at $243,216,119 over the last quarter.

Hedge Funds Weigh In On CAVA Group

Several institutional investors and hedge funds have recently modified their holdings of the stock. CWM LLC boosted its position in shares of CAVA Group by 101.2% during the first quarter. CWM LLC now owns 505 shares of the company’s stock valued at $35,000 after buying an additional 254 shares during the last quarter. Montag A & Associates Inc. purchased a new stake in shares of CAVA Group during the fourth quarter valued at $26,000. American International Group Inc. boosted its position in shares of CAVA Group by 194.2% during the first quarter. American International Group Inc. now owns 709 shares of the company’s stock valued at $50,000 after buying an additional 468 shares during the last quarter. PNC Financial Services Group Inc. boosted its position in shares of CAVA Group by 190.0% during the third 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 during the last quarter. Finally, PSI Advisors LLC boosted its position in CAVA Group by 1,133.3% in the first quarter. PSI Advisors LLC now owns 925 shares of the company’s stock worth $65,000 after purchasing an additional 850 shares during the last quarter. 73.15% of the stock is currently owned by institutional investors.

CAVA Group Company Profile

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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.

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