CAVA Group (NYSE:CAVA) Coverage Initiated at Sanford C. Bernstein

Investment analysts at Sanford C. Bernstein started coverage on shares of CAVA Group (NYSE:CAVA) in a note issued to investors on Wednesday, MarketBeat Ratings reports. The brokerage set a “market perform” rating and a $145.00 price target on the stock. Sanford C. Bernstein’s target price indicates a potential upside of 0.11% from the stock’s previous close.

CAVA has been the topic of several other research reports. Stifel Nicolaus raised their price target on CAVA Group from $118.00 to $175.00 and gave the company a “buy” rating in a report on Wednesday, November 13th. TD Securities upped their target price on shares of CAVA Group from $115.00 to $130.00 and gave the stock a “buy” rating in a research report on Tuesday, September 24th. Wedbush raised their price target on CAVA Group from $155.00 to $190.00 and gave the company an “outperform” rating in a research report on Wednesday, November 13th. Loop Capital upped their price objective on CAVA Group from $122.00 to $147.00 and gave the stock a “hold” rating in a report on Thursday, November 14th. Finally, Morgan Stanley raised their price objective on CAVA Group from $123.00 to $135.00 and gave the company an “equal weight” rating in a report on Thursday, November 14th. Eight investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $143.80.

CAVA Group Stock Up 3.7 %

CAVA stock opened at $144.85 on Wednesday. The firm has a market cap of $16.60 billion, a PE ratio of 303.57 and a beta of 3.23. The business has a 50 day moving average of $132.82 and a 200-day moving average of $105.93. CAVA Group has a 12-month low of $31.47 and a 12-month high of $172.43.

CAVA Group (NYSE:CAVA) last posted its quarterly earnings data 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 business had revenue of $243.82 million during the quarter, compared to the consensus estimate of $233.05 million. CAVA Group had a net margin of 5.88% and a return on equity of 9.10%. The firm’s quarterly revenue was up 38.9% compared to the same quarter last year. During the same quarter last year, the company posted $0.06 earnings per share. On average, research analysts expect that CAVA Group will post 0.5 earnings per share for the current year.

Insider Transactions at CAVA Group

In related news, CFO Tricia K. Tolivar sold 5,000 shares of the stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $125.64, for a total value of $628,200.00. Following the completion of the transaction, the chief financial officer now directly owns 292,600 shares in the company, valued at $36,762,264. This trade represents a 1.68 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Brett Schulman sold 201,504 shares of the company’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 owns 702,590 shares in the company, valued at approximately $88,196,122.70. This trade represents a 22.29 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 334,994 shares of company stock worth $42,543,534. 12.10% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Capital Research Global Investors increased its holdings in shares of CAVA Group by 21.6% during the first quarter. Capital Research Global Investors now owns 5,311,335 shares of the company’s stock valued at $372,059,000 after acquiring an additional 942,054 shares in the last quarter. Vanguard Group Inc. grew its position in CAVA Group by 215.7% during the 1st quarter. Vanguard Group Inc. now owns 4,944,036 shares of the company’s stock valued at $346,330,000 after purchasing an additional 3,377,840 shares during the last quarter. FMR LLC increased its stake in CAVA Group by 0.9% during the 3rd quarter. FMR LLC now owns 3,485,033 shares of the company’s stock valued at $431,621,000 after purchasing an additional 29,668 shares in the last quarter. Two Sigma Advisers LP raised its holdings in CAVA Group by 17.0% in the third quarter. Two Sigma Advisers LP now owns 2,210,900 shares of the company’s stock worth $273,820,000 after buying an additional 321,800 shares during the last quarter. Finally, State Street Corp lifted its stake in shares of CAVA Group by 33.3% in the third quarter. State Street Corp now owns 1,267,333 shares of the company’s stock worth $156,959,000 after buying an additional 316,514 shares in the last quarter. 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.