CAVA Group (NYSE:CAVA) Price Target Raised to $148.00

CAVA Group (NYSE:CAVA) had its target price boosted by Robert W. Baird from $125.00 to $148.00 in a research note published on Monday morning, Benzinga reports. They currently have an outperform rating on the stock.

Several other research analysts have also weighed in on the stock. 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. JPMorgan Chase & Co. increased their price objective on CAVA Group from $77.00 to $90.00 and gave the stock a “neutral” rating in a report on Monday, August 26th. Citigroup boosted their target price on CAVA Group from $115.00 to $140.00 and gave the company a “neutral” rating in a research note on Tuesday, October 29th. Morgan Stanley lowered CAVA Group from an “overweight” rating to an “equal weight” rating and upped their target price for the stock from $90.00 to $110.00 in a research report on Thursday, August 29th. Finally, UBS Group assumed coverage on CAVA Group in a report on Friday, September 27th. They set a “neutral” rating and a $135.00 price target for the company. Eight equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat, CAVA Group has an average rating of “Moderate Buy” and a consensus price target of $120.36.

CAVA Group Stock Up 4.8 %

Shares of CAVA Group stock opened at $138.89 on Monday. CAVA Group has a 12 month low of $29.66 and a 12 month high of $141.25. The stock has a market cap of $15.88 billion, a PE ratio of 375.38 and a beta of 3.23. The business has a fifty day simple moving average of $127.47 and a 200-day simple moving average of $100.60.

CAVA Group (NYSE:CAVA) last announced 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 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%. The business’s quarterly revenue was up 35.1% compared to the same quarter last year. During the same period last year, the company posted $0.21 EPS. Analysts expect that CAVA Group will post 0.44 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CEO Brett Schulman sold 201,504 shares of CAVA Group stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $125.53, for a total value of $25,294,797.12. Following the transaction, the chief executive officer now directly owns 702,590 shares in the company, valued at approximately $88,196,122.70. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, CEO Brett Schulman sold 201,504 shares of the stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $125.53, for a total value of $25,294,797.12. Following the completion of the sale, the chief executive officer now directly owns 702,590 shares of the company’s stock, valued at approximately $88,196,122.70. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Tricia K. Tolivar sold 5,000 shares of the business’s stock in a transaction on Monday, August 26th. The stock was sold at an average price of $125.64, for a total transaction of $628,200.00. Following the transaction, the chief financial officer now directly owns 292,600 shares in the company, valued at $36,762,264. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 304,994 shares of company stock worth $38,310,084 in the last quarter. 12.10% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On CAVA Group

A number of institutional investors have recently added to or reduced their stakes in CAVA. Jamison Private Wealth Management Inc. acquired a new position in CAVA Group in the 2nd quarter valued at approximately $28,000. Nemes Rush Group LLC acquired a new position in shares of CAVA Group in the second quarter valued at $28,000. Mark Sheptoff Financial Planning LLC bought a new position in CAVA Group in the second quarter worth $36,000. Headlands Technologies LLC acquired a new stake in CAVA Group during the second quarter worth $37,000. Finally, GAMMA Investing LLC increased its holdings in CAVA Group by 68.3% in the 3rd quarter. GAMMA Investing LLC now owns 308 shares of the company’s stock valued at $38,000 after buying an additional 125 shares during the period. 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.