CAVA Group (NYSE:CAVA) Price Target Raised to $110.00

CAVA Group (NYSE:CAVA) had its target price lifted by JPMorgan Chase & Co. from $90.00 to $110.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage presently has a “neutral” rating on the stock. JPMorgan Chase & Co.‘s target price would indicate a potential downside of 19.15% from the company’s previous close.

CAVA has been the subject of a number of other reports. Wedbush boosted their price target on shares of CAVA Group from $155.00 to $190.00 and gave the stock an “outperform” rating in a research note on Wednesday. TD Securities upped their target price on shares of CAVA Group from $115.00 to $130.00 and gave the company a “buy” rating in a research note on Tuesday, September 24th. Robert W. Baird upped their target price on shares of CAVA Group from $125.00 to $148.00 and gave the company an “outperform” rating in a research note on Monday, November 4th. TD Cowen upped their target price on shares of CAVA Group from $130.00 to $150.00 and gave the company a “buy” rating in a research note on Wednesday. Finally, Argus upped their target price on shares of CAVA Group from $104.00 to $128.00 and gave the company a “buy” rating in a research note on Wednesday, September 11th. Eight equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, CAVA Group has a consensus rating of “Moderate Buy” and an average target price of $140.14.

CAVA Group Trading Down 1.6 %

Shares of CAVA traded down $2.28 on Wednesday, reaching $136.06. 621,538 shares of the company’s stock were exchanged, compared to its average volume of 2,748,425. The stock has a market capitalization of $15.55 billion, a P/E ratio of 300.63 and a beta of 3.23. The business has a 50 day moving average price of $130.75 and a two-hundred day moving average price of $103.50. 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 the consensus estimate of $233.05 million. CAVA Group had a net margin of 5.88% and a return on equity of 9.23%. CAVA Group’s revenue for the quarter was up 38.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.06 earnings per share. Equities research analysts predict that CAVA Group will post 0.46 EPS for the current year.

Insider Buying and Selling

In related news, CEO Brett Schulman sold 201,504 shares of the stock in a transaction on Monday, August 26th. The shares were sold at an average price of $125.53, for a total transaction of $25,294,797.12. Following the completion of the transaction, the chief executive officer now owns 702,590 shares in the company, valued at approximately $88,196,122.70. This represents a 22.29 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Tricia K. Tolivar sold 5,000 shares of the stock in a transaction 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 transaction, the chief financial officer now owns 292,600 shares of the company’s stock, valued at $36,762,264. The trade was a 1.68 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 304,994 shares of company stock worth $38,310,084. 12.10% of the stock is owned by insiders.

Institutional Trading of CAVA Group

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Jamison Private Wealth Management Inc. bought a new stake in CAVA Group during the second quarter worth $28,000. Nemes Rush Group LLC bought a new stake in CAVA Group during the second quarter worth $28,000. GAMMA Investing LLC raised its position in CAVA Group by 68.3% during the third quarter. GAMMA Investing LLC now owns 308 shares of the company’s stock worth $38,000 after acquiring an additional 125 shares in the last quarter. Mark Sheptoff Financial Planning LLC bought a new stake in CAVA Group during the second quarter worth $36,000. Finally, Headlands Technologies LLC bought a new stake in CAVA Group during the second quarter worth $37,000. 73.15% of the stock is 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.