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

Sanford C. Bernstein initiated coverage on shares of CAVA Group (NYSE:CAVA) in a research report report published on Wednesday morning, MarketBeat Ratings reports. The brokerage issued a market perform rating and a $145.00 target price on the stock.

A number of other analysts also recently weighed in on CAVA. Robert W. Baird increased their price target on shares of CAVA Group from $125.00 to $148.00 and gave the company an “outperform” rating in a report on Monday, November 4th. Barclays increased their target price on shares of CAVA Group from $113.00 to $142.00 and gave the company an “equal weight” rating in a research note on Wednesday, November 13th. Citigroup lifted their target price on CAVA Group from $140.00 to $163.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 13th. Piper Sandler upped their price target on CAVA Group from $100.00 to $142.00 and gave the company a “neutral” rating in a report on Friday, November 15th. Finally, Jefferies Financial Group lifted their price objective on CAVA Group from $94.00 to $117.00 and gave the stock a “buy” rating in a report on Friday, August 23rd. Eight research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $143.80.

CAVA Group Stock Performance

Shares of NYSE:CAVA opened at $139.64 on Wednesday. CAVA Group has a 52-week low of $31.47 and a 52-week high of $172.43. The company has a market cap of $16.00 billion, a P/E ratio of 303.57 and a beta of 3.23. The stock’s 50-day moving average is $132.46 and its 200-day moving average is $105.70.

CAVA Group (NYSE:CAVA) last issued its quarterly earnings results on Tuesday, November 12th. The company reported $0.15 EPS for the quarter, topping the consensus estimate of $0.11 by $0.04. CAVA Group had a return on equity of 9.10% and a net margin of 5.88%. The company had revenue of $243.82 million for the quarter, compared to the consensus estimate of $233.05 million. During the same period in the previous year, the business posted $0.06 EPS. The company’s revenue for the quarter was up 38.9% on a year-over-year basis. As a group, equities analysts predict that CAVA Group will post 0.5 EPS for the current year.

Insider Buying and Selling

In other news, Director Karen Kochevar sold 15,000 shares of the stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $140.00, for a total transaction of $2,100,000.00. Following the sale, the director now directly owns 1,307 shares of the company’s stock, valued at $182,980. This represents a 91.99 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Tricia K. Tolivar sold 5,000 shares of the business’s stock in a transaction that occurred 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 transaction, the chief financial officer now 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 disclosure for this sale can be found here. Insiders have sold a total of 319,994 shares of company stock worth $40,410,084 in the last three months. Insiders own 12.10% of the company’s stock.

Institutional Investors Weigh In On CAVA Group

A number of institutional investors and hedge funds have recently made changes to their positions in CAVA. Virtu Financial LLC lifted its position in CAVA Group by 306.9% during the 3rd quarter. Virtu Financial LLC now owns 40,088 shares of the company’s stock valued at $4,965,000 after purchasing an additional 30,235 shares during the period. Sunbelt Securities Inc. bought a new stake in shares of CAVA Group during the third quarter worth approximately $50,000. Geode Capital Management LLC lifted its holdings in 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 buying an additional 669,599 shares during the period. Conway Capital Management Inc. bought a new position in CAVA Group in the third quarter valued at approximately $5,524,000. Finally, M&T Bank Corp grew its holdings in CAVA Group by 75.2% during the 3rd quarter. M&T Bank Corp now owns 6,320 shares of the company’s stock worth $783,000 after acquiring an additional 2,712 shares during the period. 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.