CAVA Group (NYSE:CAVA) Stock Price Expected to Rise, Citigroup Analyst Says

CAVA Group (NYSE:CAVA) had its price objective boosted by Citigroup from $140.00 to $163.00 in a research report sent to investors on Wednesday morning,Benzinga reports. The brokerage currently has a neutral rating on the stock.

A number of other research firms have also recently issued reports on CAVA. Stifel Nicolaus increased their price target on CAVA Group from $118.00 to $175.00 and gave the stock a “buy” rating in a report on Wednesday. JPMorgan Chase & Co. increased their target price on CAVA Group from $90.00 to $110.00 and gave the stock a “neutral” rating in a report on Wednesday. Loop Capital increased their target price on CAVA Group from $80.00 to $122.00 and gave the stock a “hold” rating in a report on Monday, August 26th. Argus increased their target price on CAVA Group from $104.00 to $128.00 and gave the stock a “buy” rating in a report on Wednesday, September 11th. Finally, Barclays increased their target price on CAVA Group from $113.00 to $142.00 and gave the stock an “equal weight” rating in a report on Wednesday. Eight research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $143.71.

CAVA Group Stock Performance

NYSE:CAVA opened at $141.38 on Wednesday. The company has a market capitalization of $16.16 billion, a PE ratio of 307.35 and a beta of 3.23. CAVA Group has a fifty-two week low of $31.47 and a fifty-two week high of $172.43. The company has a 50 day simple moving average of $131.69 and a two-hundred day simple moving average of $104.46.

CAVA Group (NYSE:CAVA) last posted its quarterly earnings results on Tuesday, November 12th. The company reported $0.15 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.11 by $0.04. The firm had revenue of $243.82 million for the quarter, compared to analysts’ expectations of $233.05 million. CAVA Group had a return on equity of 9.23% and a net margin of 5.88%. The company’s revenue for the quarter was up 38.9% compared to the same quarter last year. During the same period in the prior year, the business earned $0.06 EPS. Research analysts predict that CAVA Group will post 0.46 EPS for the current year.

Insider Activity at CAVA Group

In other news, CFO Tricia K. Tolivar sold 5,000 shares of the firm’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 completion of the sale, the chief financial officer now directly owns 292,600 shares of the company’s stock, valued at $36,762,264. This trade represents a 1.68 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Theodoros Xenohristos sold 98,490 shares of the firm’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 approximately $53,432,881.42. This represents a 18.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 304,994 shares of company stock valued at $38,310,084. 12.10% of the stock is owned by insiders.

Institutional Investors Weigh In On CAVA Group

Large investors have recently made changes to their positions in the business. Swiss National Bank increased its holdings in CAVA Group by 50.2% in the 1st quarter. Swiss National Bank now owns 67,300 shares of the company’s stock worth $4,714,000 after acquiring an additional 22,500 shares during the last quarter. Sei Investments Co. increased its holdings in CAVA Group by 70.6% in the 1st quarter. Sei Investments Co. now owns 35,784 shares of the company’s stock worth $2,507,000 after acquiring an additional 14,811 shares during the last quarter. Russell Investments Group Ltd. purchased a new stake in CAVA Group in the 1st quarter worth about $6,532,000. Kingsview Wealth Management LLC purchased a new stake in CAVA Group in the 1st quarter worth about $294,000. Finally, Vanguard Group Inc. increased its holdings in CAVA Group by 215.7% in the 1st quarter. Vanguard Group Inc. now owns 4,944,036 shares of the company’s stock worth $346,330,000 after acquiring an additional 3,377,840 shares during the last quarter. 73.15% of the stock is owned by hedge funds and other institutional investors.

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.