CAVA Group (NYSE:CAVA) Trading 1.7% Higher

CAVA Group, Inc. (NYSE:CAVA)’s share price was up 1.7% during mid-day trading on Wednesday . The company traded as high as $124.73 and last traded at $124.50. Approximately 295,282 shares were traded during mid-day trading, a decline of 89% from the average daily volume of 2,798,419 shares. The stock had previously closed at $122.47.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on CAVA shares. Argus boosted their price objective on CAVA Group from $104.00 to $128.00 and gave the company a “buy” rating in a research report on Wednesday, September 11th. Wedbush lifted their target price on CAVA Group from $100.00 to $120.00 and gave the company an “outperform” rating in a research note on Friday, August 23rd. Robert W. Baird increased their price target on CAVA Group from $105.00 to $125.00 and gave the stock an “outperform” rating in a research note on Friday, August 23rd. Barclays lifted their price objective on shares of CAVA Group from $72.00 to $95.00 and gave the company an “equal weight” rating in a research note on Friday, August 23rd. Finally, Jefferies Financial Group raised their target price 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. Seven equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $111.58.

CAVA Group Stock Up 0.7 %

The business’s 50 day simple moving average is $98.36 and its 200 day simple moving average is $83.93. The company has a market capitalization of $14.06 billion, a PE ratio of 303.66 and a beta of 3.34.

CAVA Group (NYSE:CAVA) last issued its earnings results on Thursday, August 22nd. The company reported $0.17 EPS for the quarter, topping the consensus estimate of $0.13 by $0.04. The business had revenue of $233.50 million during the quarter, compared to analysts’ expectations of $219.47 million. CAVA Group had a return on equity of 7.37% and a net margin of 5.04%. CAVA Group’s revenue was up 35.1% compared to the same quarter last year. During the same quarter last year, the firm posted $0.21 earnings per share. On average, analysts anticipate that CAVA Group, Inc. will post 0.43 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Theodoros Xenohristos sold 90,000 shares of the firm’s stock in a transaction that occurred on Monday, June 24th. The shares were sold at an average price of $91.01, for a total transaction of $8,190,900.00. Following the completion of the sale, the director now directly owns 424,846 shares in the company, valued at $38,665,234.46. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 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 transaction of $25,294,797.12. Following the completion of the sale, the chief executive officer now directly owns 702,590 shares in the company, valued at approximately $88,196,122.70. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Theodoros Xenohristos sold 90,000 shares of the company’s stock in a transaction dated Monday, June 24th. The stock was sold at an average price of $91.01, for a total value of $8,190,900.00. Following the sale, the director now owns 424,846 shares of the company’s stock, valued at approximately $38,665,234.46. The disclosure for this sale can be found here. Insiders have sold 400,943 shares of company stock worth $47,062,986 in the last 90 days.

Hedge Funds Weigh In On CAVA Group

A number of institutional investors have recently made changes to their positions in the business. Private Advisor Group LLC lifted its stake in shares of CAVA Group by 69.1% in the first quarter. Private Advisor Group LLC now owns 33,619 shares of the company’s stock valued at $2,355,000 after buying an additional 13,739 shares during the period. CHURCHILL MANAGEMENT Corp bought a new stake in CAVA Group in the 1st quarter valued at $3,213,000. Swiss National Bank acquired a new position in CAVA Group in the fourth quarter worth about $1,926,000. Stephens Inc. AR acquired a new position in shares of CAVA Group in the 4th quarter worth approximately $1,014,000. Finally, Cetera Investment Advisers bought a new stake in CAVA Group in the first quarter valued at $2,455,000. 73.15% of the stock is currently owned by institutional investors.

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.