Wedbush Boosts CAVA Group (NYSE:CAVA) Price Target to $190.00

CAVA Group (NYSE:CAVA) had its target price raised by Wedbush from $155.00 to $190.00 in a report issued on Wednesday, Marketbeat.com reports. The brokerage presently has an “outperform” rating on the stock. Wedbush’s price target points to a potential upside of 37.39% from the stock’s current price. Wedbush also issued estimates for CAVA Group’s Q4 2024 earnings at $0.06 EPS, FY2024 earnings at $0.50 EPS, Q3 2025 earnings at $0.22 EPS and FY2025 earnings at $0.70 EPS.

Several other analysts have also issued reports on CAVA. Morgan Stanley lowered shares of CAVA Group from an “overweight” rating to an “equal weight” rating and boosted their price target for the company from $90.00 to $110.00 in a research report on Thursday, August 29th. Stifel Nicolaus increased their target price on CAVA Group from $90.00 to $110.00 and gave the stock a “buy” rating in a research report on Monday, August 19th. Barclays raised their price target on CAVA Group from $95.00 to $113.00 and gave the stock an “equal weight” rating in a report on Tuesday, October 22nd. 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. Finally, UBS Group began coverage on CAVA Group in a report on Friday, September 27th. They set a “neutral” rating and a $135.00 price objective on the stock. Eight analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, CAVA Group currently has a consensus rating of “Moderate Buy” and an average target price of $140.14.

CAVA Group Price Performance

Shares of CAVA Group stock opened at $138.29 on Wednesday. CAVA Group has a 1 year low of $31.47 and a 1 year high of $172.43. The firm has a market cap of $15.81 billion, a PE ratio of 298.04 and a beta of 3.23. The stock has a fifty day moving average price of $130.75 and a 200-day moving average price of $103.50.

CAVA Group (NYSE:CAVA) last announced its earnings results on Tuesday, November 12th. The company reported $0.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.11 by $0.04. The firm had revenue of $243.82 million during the quarter, compared to analyst estimates of $233.05 million. CAVA Group had a return on equity of 9.23% and a net margin of 5.88%. The business’s revenue was up 38.9% compared to the same quarter last year. During the same period last year, the firm posted $0.06 EPS. As a group, equities analysts anticipate that CAVA Group will post 0.44 EPS for the current fiscal year.

Insiders Place Their Bets

In other 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 transaction, the chief executive officer now directly owns 702,590 shares in the company, valued at approximately $88,196,122.70. This represents a 22.29 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Theodoros Xenohristos sold 98,490 shares of the stock in a transaction dated 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 owns 424,846 shares of the company’s stock, valued at $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. Insiders have sold 304,994 shares of company stock worth $38,310,084 in the last ninety days. 12.10% of the stock is currently owned by insiders.

Institutional Investors Weigh In On CAVA Group

Several institutional investors have recently bought and sold shares of CAVA. Tradition Wealth Management LLC purchased a new stake in CAVA Group in the 3rd quarter worth approximately $250,000. Fred Alger Management LLC lifted its stake in shares of CAVA Group by 14.7% in the 3rd quarter. Fred Alger Management LLC now owns 54,929 shares of the company’s stock valued at $6,803,000 after purchasing an additional 7,025 shares during the period. Captrust Financial Advisors lifted its stake in shares of CAVA Group by 17.6% in the 3rd quarter. Captrust Financial Advisors now owns 9,173 shares of the company’s stock valued at $1,136,000 after purchasing an additional 1,372 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of CAVA Group by 31.5% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 10,470 shares of the company’s stock valued at $1,297,000 after purchasing an additional 2,511 shares during the period. Finally, FORA Capital LLC lifted its stake in shares of CAVA Group by 11.5% in the 3rd quarter. FORA Capital LLC now owns 101,413 shares of the company’s stock valued at $12,560,000 after purchasing an additional 10,496 shares during the period. 73.15% of the stock is currently 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.