CAVA Group (NYSE:CAVA) Stock Price Up 1.4%

Shares of CAVA Group, Inc. (NYSE:CAVA) traded up 1.4% during mid-day trading on Thursday . The stock traded as high as $127.52 and last traded at $125.98. 566,838 shares traded hands during trading, a decline of 80% from the average session volume of 2,794,348 shares. The stock had previously closed at $124.30.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on CAVA shares. Citigroup lifted their price objective on CAVA Group from $93.00 to $115.00 and gave the company a “neutral” rating in a research report on Friday, August 23rd. Jefferies Financial Group upped their price objective on shares of CAVA Group from $94.00 to $117.00 and gave the company a “buy” rating in a research note on Friday, August 23rd. Morgan Stanley cut shares of CAVA Group from an “overweight” rating to an “equal weight” rating and raised their target price for the stock from $90.00 to $110.00 in a research report on Thursday, August 29th. Robert W. Baird increased their price target on shares of CAVA Group from $105.00 to $125.00 and gave the stock an “outperform” rating in a research note on Friday, August 23rd. Finally, Wedbush boosted their price objective on shares of CAVA Group from $100.00 to $120.00 and gave the company an “outperform” rating in a research note on Friday, August 23rd. Seven analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, CAVA Group has an average rating of “Moderate Buy” and a consensus target price of $111.58.

CAVA Group Stock Up 2.8 %

The firm has a market cap of $14.68 billion, a price-to-earnings ratio of 313.95 and a beta of 3.34. The business has a 50 day moving average price of $100.83 and a 200-day moving average price of $84.98.

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

Insiders Place Their Bets

In other 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 completion of the sale, the chief executive officer now directly owns 702,590 shares in the company, valued at $88,196,122.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, Director Theodoros Xenohristos sold 98,490 shares of the company’s stock in a transaction on Monday, August 26th. The shares were sold at an average price of $125.77, for a total value of $12,387,087.30. Following the sale, the director now directly owns 424,846 shares of the company’s stock, valued at $53,432,881.42. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Brett Schulman sold 201,504 shares of the firm’s stock in a transaction on 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 transaction, the chief executive officer now directly owns 702,590 shares of the company’s stock, valued at $88,196,122.70. 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

Several large investors have recently modified their holdings of the stock. Swiss National Bank acquired a new stake in CAVA Group during the fourth quarter valued at approximately $1,926,000. Charles Schwab Investment Management Inc. lifted its stake in CAVA Group by 1.9% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 124,035 shares of the company’s stock worth $5,331,000 after purchasing an additional 2,287 shares during the last quarter. Jump Financial LLC boosted its holdings in CAVA Group by 26.9% in the fourth quarter. Jump Financial LLC now owns 8,900 shares of the company’s stock worth $383,000 after purchasing an additional 1,889 shares during the period. Principal Financial Group Inc. bought a new stake in CAVA Group during the fourth quarter valued at $2,518,000. Finally, Janney Montgomery Scott LLC raised its holdings in shares of CAVA Group by 46.3% during the fourth quarter. Janney Montgomery Scott LLC now owns 22,947 shares of the company’s stock worth $986,000 after purchasing an additional 7,263 shares during the period. 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.