CAVA Group (NYSE:CAVA) Price Target Raised to $110.00

CAVA Group (NYSE:CAVA) had its target price upped by JPMorgan Chase & Co. from $90.00 to $110.00 in a research note published on Wednesday,Benzinga reports. They currently have a neutral rating on the stock.

Several other brokerages have also commented on CAVA. TD Cowen increased their price objective on shares of CAVA Group from $130.00 to $150.00 and gave the company a “buy” rating in a research report on Wednesday. Barclays raised their price target on shares of CAVA Group from $95.00 to $113.00 and gave the stock an “equal weight” rating in a report on Tuesday, October 22nd. Robert W. Baird boosted their price objective on shares of CAVA Group from $125.00 to $148.00 and gave the company an “outperform” rating in a report on Monday, November 4th. Argus upped their target price on CAVA Group from $104.00 to $128.00 and gave the company a “buy” rating in a research report on Wednesday, September 11th. Finally, Stifel Nicolaus lifted their price target on CAVA Group from $90.00 to $110.00 and gave the stock a “buy” rating in a research report on Monday, August 19th. Eight investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $143.71.

CAVA Group Trading Up 2.2 %

NYSE CAVA opened at $141.38 on Wednesday. CAVA Group has a 12-month low of $31.47 and a 12-month high of $172.43. The firm’s fifty day simple moving average is $131.69 and its two-hundred day simple moving average is $104.46. The firm has a market capitalization of $16.16 billion, a P/E ratio of 307.35 and a beta of 3.23.

CAVA Group (NYSE:CAVA) last announced its earnings results on Tuesday, November 12th. The company reported $0.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.11 by $0.04. CAVA Group had a return on equity of 9.23% and a net margin of 5.88%. The company had revenue of $243.82 million for the quarter, compared to analyst estimates of $233.05 million. During the same period in the prior year, the company posted $0.06 EPS. The firm’s quarterly revenue was up 38.9% compared to the same quarter last year. As a group, sell-side analysts predict that CAVA Group will post 0.46 earnings per share for the current fiscal year.

Insider Transactions at CAVA Group

In other CAVA Group news, CEO Brett Schulman sold 201,504 shares of the company’s stock in a transaction on Monday, August 26th. The shares were sold at an average price of $125.53, for a total transaction of $25,294,797.12. Following the completion of the transaction, the chief executive officer now directly owns 702,590 shares in the company, valued at approximately $88,196,122.70. This represents a 22.29 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Theodoros Xenohristos sold 98,490 shares of CAVA Group stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $125.77, for a total transaction of $12,387,087.30. Following the completion of the sale, the director now owns 424,846 shares in the company, valued at approximately $53,432,881.42. This trade represents a 18.82 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 304,994 shares of company stock valued at $38,310,084 in the last ninety days. 12.10% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the stock. Capital Research Global Investors boosted its holdings in CAVA Group by 21.6% in the 1st quarter. Capital Research Global Investors now owns 5,311,335 shares of the company’s stock worth $372,059,000 after buying an additional 942,054 shares during the last quarter. Vanguard Group Inc. lifted its position in shares of CAVA Group by 215.7% in the first quarter. Vanguard Group Inc. now owns 4,944,036 shares of the company’s stock valued at $346,330,000 after acquiring an additional 3,377,840 shares in the last quarter. FMR LLC boosted its stake in shares of CAVA Group by 0.9% in the third quarter. FMR LLC now owns 3,485,033 shares of the company’s stock worth $431,621,000 after acquiring an additional 29,668 shares during the last quarter. Two Sigma Advisers LP increased its position in shares of CAVA Group by 17.0% during the third quarter. Two Sigma Advisers LP now owns 2,210,900 shares of the company’s stock worth $273,820,000 after purchasing an additional 321,800 shares in the last quarter. Finally, State Street Corp raised its stake in CAVA Group by 33.3% in the 3rd quarter. State Street Corp now owns 1,267,333 shares of the company’s stock valued at $156,959,000 after purchasing an additional 316,514 shares during the last quarter. Institutional investors and hedge funds 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.