CAVA Group (NYSE:CAVA) Upgraded at JPMorgan Chase & Co.

CAVA Group (NYSE:CAVA) was upgraded by stock analysts at JPMorgan Chase & Co. from a “neutral” rating to an “overweight” rating in a report released on Thursday, MarketBeat.com reports. The firm presently has a $110.00 price target on the stock. JPMorgan Chase & Co.‘s price target would suggest a potential upside of 35.46% from the company’s current price.

Several other equities analysts have also recently weighed in on the stock. Sanford C. Bernstein initiated coverage on shares of CAVA Group in a research note on Wednesday, November 20th. They set a “market perform” rating and a $145.00 target price for the company. William Blair reiterated an “outperform” rating on shares of CAVA Group in a research note on Wednesday, February 26th. UBS Group decreased their price target on shares of CAVA Group from $160.00 to $125.00 and set a “neutral” rating on the stock in a research note on Tuesday, January 7th. Citigroup decreased their price target on shares of CAVA Group from $163.00 to $140.00 and set a “neutral” rating on the stock in a research note on Friday, February 21st. Finally, Barclays decreased their price target on shares of CAVA Group from $127.00 to $104.00 and set an “equal weight” rating on the stock in a research note on Wednesday, February 26th. Six analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat.com, CAVA Group presently has a consensus rating of “Moderate Buy” and a consensus target price of $131.47.

CAVA Group Stock Performance

Shares of CAVA Group stock opened at $81.20 on Thursday. CAVA Group has a fifty-two week low of $58.22 and a fifty-two week high of $172.43. The company has a market capitalization of $9.39 billion, a P/E ratio of 176.53 and a beta of 3.58. The company has a fifty day moving average of $111.90 and a 200 day moving average of $123.36.

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

Insider Buying and Selling

In related news, insider Theodoros Xenohristos sold 851 shares of the stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $119.18, for a total value of $101,422.18. Following the sale, the insider now directly owns 358,995 shares of the company’s stock, valued at $42,785,024.10. This represents a 0.24 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available 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 transaction of $2,450,817.52. Following the completion of the transaction, the chief executive officer now owns 776,369 shares in the company, valued at $92,527,657.42. This represents a 2.58 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 29,235 shares of company stock valued at $3,514,101 in the last ninety days. 12.10% of the stock is owned by company insiders.

Hedge Funds Weigh In On CAVA Group

A number of hedge funds have recently added to or reduced their stakes in CAVA. Arcadia Investment Management Corp MI bought a new position in CAVA Group in the 4th quarter worth about $25,000. Allworth Financial LP grew its stake in CAVA Group by 369.2% in the 4th quarter. Allworth Financial LP now owns 244 shares of the company’s stock worth $30,000 after acquiring an additional 192 shares in the last quarter. Larson Financial Group LLC grew its stake in CAVA Group by 274.0% in the 4th quarter. Larson Financial Group LLC now owns 273 shares of the company’s stock worth $31,000 after acquiring an additional 200 shares in the last quarter. Whittier Trust Co. grew its stake in CAVA Group by 80.9% in the 4th quarter. Whittier Trust Co. now owns 284 shares of the company’s stock worth $32,000 after acquiring an additional 127 shares in the last quarter. Finally, Signaturefd LLC grew its stake in CAVA Group by 884.4% in the 4th quarter. Signaturefd LLC now owns 315 shares of the company’s stock worth $36,000 after acquiring an additional 283 shares in the last quarter. 73.15% of the stock is currently owned by 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.