TD Securities Boosts CAVA Group (NYSE:CAVA) Price Target to $130.00

CAVA Group (NYSE:CAVA) had its price target raised by TD Securities from $115.00 to $130.00 in a research note issued to investors on Tuesday, Benzinga reports. The brokerage currently has a “buy” rating on the stock. TD Securities’ target price points to a potential upside of 1.94% from the stock’s previous close.

A number of other research firms have also weighed in on CAVA. Morgan Stanley lowered shares of CAVA Group from an “overweight” rating to an “equal weight” rating and boosted their target price for the stock from $90.00 to $110.00 in a research report on Thursday, August 29th. Stifel Nicolaus raised their price target on CAVA Group from $90.00 to $110.00 and gave the company a “buy” rating in a report on Monday, August 19th. Loop Capital raised their target price on shares of CAVA Group from $80.00 to $122.00 and gave the company a “hold” rating in a research note on Monday, August 26th. JPMorgan Chase & Co. lifted their price objective on CAVA Group from $77.00 to $90.00 and gave the stock a “neutral” rating in a research note on Monday, August 26th. Finally, Robert W. Baird raised their target price on CAVA Group from $105.00 to $125.00 and gave the stock an “outperform” rating in a report on Friday, August 23rd. Seven equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $114.15.

CAVA Group Stock Performance

Shares of NYSE:CAVA traded down $0.75 during midday trading on Tuesday, hitting $127.52. 659,544 shares of the stock were exchanged, compared to its average volume of 2,818,697. The business’s fifty day simple moving average is $101.67 and its two-hundred day simple moving average is $85.83. CAVA Group has a 52-week low of $29.05 and a 52-week high of $131.82. The company has a market capitalization of $14.54 billion, a PE ratio of 310.44 and a beta of 3.34.

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

Insider Activity at CAVA Group

In related news, CEO Brett Schulman sold 201,504 shares of the 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 transaction, the chief executive officer now directly owns 702,590 shares in the company, valued at $88,196,122.70. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other news, CEO Brett Schulman sold 201,504 shares of the business’s stock in a transaction on Monday, August 26th. The shares were sold at an average price of $125.53, for a total value of $25,294,797.12. Following the sale, the chief executive officer now owns 702,590 shares of the company’s stock, valued at $88,196,122.70. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CFO Tricia K. Tolivar sold 5,949 shares of the firm’s stock in a transaction on Monday, July 1st. The shares were sold at an average price of $94.47, for a total transaction of $562,002.03. Following the completion of the transaction, the chief financial officer now directly owns 297,600 shares of the company’s stock, valued at approximately $28,114,272. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 310,943 shares of company stock valued at $38,872,086.

Institutional Investors Weigh In On CAVA Group

A number of institutional investors and hedge funds have recently made changes to their positions in CAVA. Charles Schwab Investment Management Inc. increased its position 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 acquiring an additional 2,287 shares during the period. Principal Financial Group Inc. acquired a new stake in shares of CAVA Group in the fourth quarter valued at approximately $2,518,000. Janney Montgomery Scott LLC boosted 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 during the period. UBS Group AG raised its holdings in CAVA Group by 190.9% in the 4th quarter. UBS Group AG now owns 139,167 shares of the company’s stock valued at $5,981,000 after acquiring an additional 91,333 shares in the last quarter. Finally, Artisan Partners Limited Partnership lifted its position in shares of CAVA Group by 39.4% during the 4th quarter. Artisan Partners Limited Partnership now owns 341,872 shares of the company’s stock valued at $14,694,000 after acquiring an additional 96,637 shares during the period. Institutional investors 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.