CAVA Group (NYSE:CAVA) Trading 1.9% Higher

Shares of CAVA Group, Inc. (NYSE:CAVA) rose 1.9% on Friday . The stock traded as high as $128.05 and last traded at $127.54. Approximately 756,977 shares changed hands during trading, a decline of 73% from the average daily volume of 2,790,855 shares. The stock had previously closed at $125.22.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the stock. Wedbush boosted their price target on shares of CAVA Group from $100.00 to $120.00 and gave the stock an “outperform” rating in a research note on Friday, August 23rd. Argus raised their price target on shares of CAVA Group from $104.00 to $128.00 and gave the company a “buy” rating in a research report on Wednesday, September 11th. Barclays increased their price objective on CAVA Group from $72.00 to $95.00 and gave the company an “equal weight” rating in a research note on Friday, August 23rd. Jefferies Financial Group upped their price target on CAVA Group from $94.00 to $117.00 and gave the stock a “buy” rating in a report on Friday, August 23rd. Finally, Loop Capital lifted their price objective on CAVA Group from $80.00 to $122.00 and gave the company a “hold” rating in a research note on Monday, August 26th. Seven research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $111.58.

CAVA Group Stock Performance

The business has a 50-day moving average of $99.94 and a 200-day moving average of $84.49. The stock has a market capitalization of $14.62 billion, a price-to-earnings ratio of 311.07 and a beta of 3.34.

CAVA Group (NYSE:CAVA) last announced its earnings results on Thursday, August 22nd. The company reported $0.17 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.13 by $0.04. CAVA Group had a net margin of 5.04% and a return on equity of 7.37%. The business had revenue of $233.50 million for the quarter, compared to analyst estimates of $219.47 million. During the same period last year, the firm posted $0.21 earnings per share. The company’s revenue for the quarter was up 35.1% compared to the same quarter last year. On average, research analysts predict that CAVA Group, Inc. will post 0.43 earnings per share for the current fiscal year.

Insider Activity at CAVA Group

In related news, Director Theodoros Xenohristos sold 90,000 shares of the stock in a transaction on Monday, June 24th. The stock was sold at an average price of $91.01, for a total transaction of $8,190,900.00. Following the completion of the sale, the director now directly owns 424,846 shares of the company’s stock, valued at $38,665,234.46. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other news, CFO Tricia K. Tolivar sold 5,949 shares of the firm’s stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $94.47, for a total value of $562,002.03. Following the completion of the sale, the chief financial officer now directly owns 297,600 shares of the company’s stock, valued at approximately $28,114,272. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Theodoros Xenohristos sold 90,000 shares of the stock in a transaction on Monday, June 24th. The stock was sold at an average price of $91.01, for a total value of $8,190,900.00. Following the completion of the transaction, the director now owns 424,846 shares of the company’s stock, valued at approximately $38,665,234.46. The disclosure for this sale can be found here. Insiders have sold 400,943 shares of company stock worth $47,062,986 in the last quarter.

Hedge Funds Weigh In On CAVA Group

A number of institutional investors and hedge funds have recently made changes to their positions in CAVA. Healthcare of Ontario Pension Plan Trust Fund acquired a new position in CAVA Group during the second quarter worth about $918,000. Sanctuary Advisors LLC purchased a new position in CAVA Group in the 2nd quarter valued at approximately $1,539,000. Cetera Investment Advisers raised its holdings in CAVA Group by 12.3% during the second quarter. Cetera Investment Advisers now owns 39,344 shares of the company’s stock worth $3,649,000 after purchasing an additional 4,295 shares during the last quarter. B. Riley Wealth Advisors Inc. purchased a new position in shares of CAVA Group in the second quarter valued at $368,000. Finally, Northwestern Mutual Wealth Management Co. raised its stake in shares of CAVA Group by 98.0% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 875 shares of the company’s stock worth $81,000 after buying an additional 433 shares during the last quarter. 73.15% of the stock is owned by institutional investors and hedge funds.

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.