CAVA Group (NYSE:CAVA) Hits New 52-Week High Following Analyst Upgrade

CAVA Group, Inc. (NYSE:CAVA) hit a new 52-week high during mid-day trading on Monday after TD Cowen raised their price target on the stock from $115.00 to $130.00. TD Cowen currently has a buy rating on the stock. CAVA Group traded as high as $129.77 and last traded at $129.77, with a volume of 14616 shares. The stock had previously closed at $128.79.

A number of other analysts have also recently issued reports on CAVA. Wedbush upped their target price on CAVA Group from $100.00 to $120.00 and gave the company an “outperform” rating in a research report on Friday, August 23rd. Stifel Nicolaus lifted their target price on shares of CAVA Group from $90.00 to $110.00 and gave the company a “buy” rating in a report on Monday, August 19th. Jefferies Financial Group upped their price objective on CAVA Group from $94.00 to $117.00 and gave the stock a “buy” rating in a report on Friday, August 23rd. Loop Capital upped their target price on shares of CAVA Group from $80.00 to $122.00 and gave the stock a “hold” rating in a research report on Monday, August 26th. Finally, Robert W. Baird raised their price target on CAVA Group from $105.00 to $125.00 and gave the company an “outperform” rating in a research report on Friday, August 23rd. Seven equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $112.83.

Insider Activity at CAVA Group

In other CAVA Group news, Director Theodoros Xenohristos sold 98,490 shares of the firm’s stock in a transaction dated Monday, August 26th. The stock was 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 approximately $53,432,881.42. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In related news, Director Theodoros Xenohristos sold 98,490 shares of the company’s stock in a transaction that occurred on 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 transaction, the director now owns 424,846 shares of the company’s stock, valued at $53,432,881.42. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Tricia K. Tolivar sold 5,949 shares of the stock in a transaction 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 transaction, the chief financial officer now directly owns 297,600 shares in the company, valued at $28,114,272. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 310,943 shares of company stock worth $38,872,086.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of CAVA. Swiss National Bank purchased a new position in shares of CAVA Group in the 4th quarter valued at $1,926,000. Charles Schwab Investment Management Inc. lifted its stake in shares of 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 in the last quarter. Principal Financial Group Inc. purchased a new stake in shares of CAVA Group in the fourth quarter worth about $2,518,000. Janney Montgomery Scott LLC grew its stake in shares of CAVA Group by 46.3% in the fourth quarter. Janney Montgomery Scott LLC now owns 22,947 shares of the company’s stock valued at $986,000 after buying an additional 7,263 shares in the last quarter. Finally, UBS Group AG raised its holdings in shares of CAVA Group by 190.9% during the 4th quarter. UBS Group AG now owns 139,167 shares of the company’s stock valued at $5,981,000 after buying an additional 91,333 shares during the period. 73.15% of the stock is owned by institutional investors and hedge funds.

CAVA Group Trading Up 0.7 %

The stock has a market capitalization of $14.79 billion, a price-to-earnings ratio of 314.12 and a beta of 3.34. The firm has a 50-day moving average of $100.83 and a 200 day moving average of $85.36.

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

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.