CAVA Group (NYSE:CAVA) Upgraded to Overweight at Piper Sandler

CAVA Group (NYSE:CAVA) was upgraded by Piper Sandler from a “neutral” rating to an “overweight” rating in a research report issued to clients and investors on Friday, MarketBeat reports. The brokerage currently has a $115.00 price target on the stock, down from their previous price target of $142.00. Piper Sandler’s target price points to a potential upside of 21.08% from the stock’s previous close.

Other equities research analysts also recently issued reports about the stock. Wedbush restated an “outperform” rating and issued a $150.00 target price on shares of CAVA Group in a research note on Wednesday. UBS Group lowered their price objective on CAVA Group from $160.00 to $125.00 and set a “neutral” rating for the company in a research report on Tuesday, January 7th. Robert W. Baird boosted their target price on CAVA Group from $125.00 to $148.00 and gave the stock an “outperform” rating in a research note on Monday, November 4th. Stifel Nicolaus increased their price target on CAVA Group from $118.00 to $175.00 and gave the company a “buy” rating in a research note on Wednesday, November 13th. Finally, Citigroup dropped their price target on CAVA Group from $163.00 to $140.00 and set a “neutral” rating on the stock in a research note on Friday, February 21st. Seven investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $131.47.

CAVA Group Price Performance

Shares of NYSE CAVA opened at $94.98 on Friday. CAVA Group has a 1-year low of $56.03 and a 1-year high of $172.43. The business has a fifty day moving average price of $120.73 and a 200 day moving average price of $125.57. The stock has a market capitalization of $10.88 billion, a P/E ratio of 206.47 and a beta of 3.25.

CAVA Group (NYSE:CAVA) last released its quarterly earnings results on Tuesday, February 25th. The company reported $0.05 EPS for the quarter, missing the consensus estimate of $0.06 by ($0.01). CAVA Group had a net margin of 5.88% and a return on equity of 9.10%. The firm had revenue of $227.40 million for the quarter, compared to analysts’ expectations of $223.34 million. As a group, equities research analysts anticipate that CAVA Group will post 0.5 earnings per share for the current fiscal year.

Insider Buying and Selling at CAVA Group

In related news, CAO Adam David Phillips sold 615 shares of the firm’s stock in a transaction on Monday, January 27th. The shares were sold at an average price of $124.39, for a total transaction of $76,499.85. Following the sale, the chief accounting officer now owns 10,884 shares in the company, valued at approximately $1,353,860.76. This trade represents a 5.35 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Brett Schulman sold 20,564 shares of the company’s stock in a transaction dated Tuesday, January 21st. The stock was sold at an average price of $119.18, for a total value of $2,450,817.52. Following the completion of the transaction, the chief executive officer now directly owns 776,369 shares of the company’s stock, valued at $92,527,657.42. The trade was a 2.58 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 651,784 shares of company stock worth $96,522,922. Company insiders own 12.10% of the company’s stock.

Hedge Funds Weigh In On CAVA Group

A number of large investors have recently added to or reduced their stakes in the stock. Jennison Associates LLC grew its position in shares of CAVA Group by 36,658.7% in the fourth quarter. Jennison Associates LLC now owns 2,461,732 shares of the company’s stock valued at $277,683,000 after purchasing an additional 2,455,035 shares during the period. Vanguard Group Inc. boosted its holdings in CAVA Group by 20.4% in the 4th quarter. Vanguard Group Inc. now owns 8,011,602 shares of the company’s stock worth $903,709,000 after buying an additional 1,357,187 shares during the last quarter. Man Group plc boosted its holdings in CAVA Group by 563.7% in the 4th quarter. Man Group plc now owns 935,075 shares of the company’s stock worth $105,476,000 after buying an additional 794,187 shares during the last quarter. Geode Capital Management LLC increased its stake in CAVA Group by 121.0% during the 3rd quarter. Geode Capital Management LLC now owns 1,222,834 shares of the company’s stock worth $151,492,000 after buying an additional 669,599 shares in the last quarter. Finally, Barclays PLC raised its holdings in shares of CAVA Group by 116.7% during the fourth quarter. Barclays PLC now owns 84,755 shares of the company’s stock valued at $9,560,000 after acquiring an additional 591,866 shares during the last quarter. 73.15% of the stock is currently owned by institutional investors and hedge funds.

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.