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

CAVA Group (NYSE:CAVA) had its target price boosted by equities research analysts at Piper Sandler from $100.00 to $142.00 in a report released on Friday,Benzinga reports. The firm currently has a “neutral” rating on the stock. Piper Sandler’s price objective would suggest a potential upside of 0.44% from the stock’s current price.

Several other equities analysts also recently commented on the company. 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. Robert W. Baird upped their price target on CAVA Group from $125.00 to $148.00 and gave the stock an “outperform” rating in a research note on Monday, November 4th. Wedbush lifted their price objective on shares of CAVA Group from $155.00 to $190.00 and gave the company an “outperform” rating in a research report on Wednesday. Barclays upped their target price on shares of CAVA Group from $113.00 to $142.00 and gave the stock an “equal weight” rating in a research report on Wednesday. Finally, UBS Group initiated coverage on shares of CAVA Group in a report on Friday, September 27th. They issued a “neutral” rating and a $135.00 price target on the stock. Eight 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 stock has an average rating of “Moderate Buy” and an average price target of $143.71.

CAVA Group Trading Up 2.2 %

Shares of NYSE:CAVA opened at $141.38 on Friday. The stock has a 50 day moving average of $131.69 and a 200 day moving average of $104.46. The company has a market cap of $16.16 billion, a PE ratio of 307.35 and a beta of 3.23. 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 results on Tuesday, November 12th. The company reported $0.15 earnings per share 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 analyst estimates of $233.05 million. CAVA Group had a net margin of 5.88% and a return on equity of 9.23%. The company’s revenue was up 38.9% on a year-over-year basis. During the same period in the prior year, the business posted $0.06 earnings per share. Equities research analysts predict that CAVA Group will post 0.46 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other CAVA Group news, CEO Brett Schulman sold 201,504 shares of the company’s stock in a transaction 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 transaction, the chief executive officer now owns 702,590 shares of the company’s stock, valued at $88,196,122.70. This represents a 22.29 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Theodoros Xenohristos sold 98,490 shares of CAVA Group stock in a transaction on Monday, August 26th. The stock was 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 approximately $53,432,881.42. This trade represents a 18.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 304,994 shares of company stock valued at $38,310,084 over the last three months. 12.10% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. Geode Capital Management LLC boosted its holdings in shares of CAVA Group by 121.0% in the third quarter. Geode Capital Management LLC now owns 1,222,834 shares of the company’s stock valued at $151,492,000 after purchasing an additional 669,599 shares during the period. Conway Capital Management Inc. bought a new stake in CAVA Group during the 3rd quarter valued at $5,524,000. M&T Bank Corp lifted its holdings in shares of CAVA Group by 75.2% in the 3rd quarter. M&T Bank Corp now owns 6,320 shares of the company’s stock worth $783,000 after buying an additional 2,712 shares during the period. Nomura Asset Management Co. Ltd. bought a new position in shares of CAVA Group during the 3rd quarter worth $285,000. Finally, MML Investors Services LLC purchased a new position in shares of CAVA Group during the third quarter valued at $288,000. Hedge funds and other institutional investors own 73.15% of the company’s stock.

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.