CAVA Group (NYSE:CAVA) Given New $190.00 Price Target at Wedbush

CAVA Group (NYSE:CAVA) had its price objective increased by Wedbush from $155.00 to $190.00 in a research report report published on Wednesday, MarketBeat Ratings reports. The brokerage currently has an outperform rating on the stock. Wedbush also issued estimates for CAVA Group’s Q4 2024 earnings at $0.06 EPS, FY2024 earnings at $0.50 EPS, Q2 2025 earnings at $0.23 EPS, Q3 2025 earnings at $0.22 EPS, Q4 2025 earnings at $0.12 EPS and FY2025 earnings at $0.70 EPS.

A number of other research firms have also weighed in on CAVA. JPMorgan Chase & Co. raised their target price on CAVA Group from $77.00 to $90.00 and gave the company a “neutral” rating in a report on Monday, August 26th. Jefferies Financial Group lifted their price objective on shares of CAVA Group from $94.00 to $117.00 and gave the stock a “buy” rating in a report on Friday, August 23rd. Morgan Stanley downgraded shares of CAVA Group from an “overweight” rating to an “equal weight” rating and increased their target price for the company from $90.00 to $110.00 in a report on Thursday, August 29th. Argus upped their price objective on shares of CAVA Group from $104.00 to $128.00 and gave the stock a “buy” rating in a research report on Wednesday, September 11th. Finally, TD Cowen lifted their target price on shares of CAVA Group from $115.00 to $130.00 and gave the stock a “buy” rating in a research report on Monday, September 23rd. Eight research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $143.71.

CAVA Group Trading Up 2.1 %

Shares of NYSE CAVA opened at $141.23 on Wednesday. The firm has a market capitalization of $16.15 billion, a P/E ratio of 307.02 and a beta of 3.23. The firm’s 50-day moving average price is $131.69 and its 200-day moving average price is $104.24. CAVA Group has a 1-year low of $31.47 and a 1-year high of $172.43.

CAVA Group (NYSE:CAVA) last issued its earnings results on Tuesday, November 12th. The company reported $0.15 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.11 by $0.04. The company had revenue of $243.82 million for the quarter, compared to analysts’ expectations of $233.05 million. CAVA Group had a return on equity of 9.23% and a net margin of 5.88%. CAVA Group’s quarterly revenue was up 38.9% compared to the same quarter last year. During the same period last year, the business earned $0.06 EPS. Equities research analysts forecast that CAVA Group will post 0.46 EPS for the current year.

Insider Transactions at CAVA Group

In other CAVA Group news, CEO Brett Schulman sold 201,504 shares of the firm’s stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $125.53, for a total transaction of $25,294,797.12. Following the sale, the chief executive officer now owns 702,590 shares in the company, valued at $88,196,122.70. This trade represents a 22.29 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Tricia K. Tolivar sold 5,000 shares of the firm’s stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $125.64, for a total value of $628,200.00. Following the transaction, the chief financial officer now directly owns 292,600 shares in the company, valued at approximately $36,762,264. This represents a 1.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 304,994 shares of company stock valued at $38,310,084. 12.10% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On CAVA Group

Several institutional investors and hedge funds have recently made changes to their positions in the business. Jamison Private Wealth Management Inc. purchased a new stake in CAVA Group during the 2nd quarter valued at about $28,000. Nemes Rush Group LLC bought a new stake in CAVA Group in the second quarter valued at approximately $28,000. GAMMA Investing LLC boosted its stake in shares of CAVA Group by 68.3% during the third quarter. GAMMA Investing LLC now owns 308 shares of the company’s stock valued at $38,000 after purchasing an additional 125 shares during the period. Mark Sheptoff Financial Planning LLC bought a new position in shares of CAVA Group in the second quarter worth approximately $36,000. Finally, Headlands Technologies LLC purchased a new position in shares of CAVA Group in the second quarter worth $37,000. 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.