CAVA Group (NYSE:CAVA) Price Target Raised to $150.00

CAVA Group (NYSE:CAVA) had its price target increased by TD Cowen from $130.00 to $150.00 in a research report released on Wednesday,Benzinga reports. They currently have a buy rating on the stock.

A number of other equities research analysts have also weighed in on the company. TD Securities lifted their price objective on CAVA Group from $115.00 to $130.00 and gave the company a “buy” rating in a report on Tuesday, September 24th. Argus upped their price objective on CAVA Group from $104.00 to $128.00 and gave the stock a “buy” rating in a report on Wednesday, September 11th. Barclays raised their target price on CAVA Group from $95.00 to $113.00 and gave the company an “equal weight” rating in a report on Tuesday, October 22nd. 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. Finally, JPMorgan Chase & Co. boosted their price objective on shares of CAVA Group from $77.00 to $90.00 and gave the stock a “neutral” rating in a report on Monday, August 26th. Eight research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, CAVA Group presently has an average rating of “Moderate Buy” and an average target price of $143.71.

CAVA Group Price Performance

CAVA stock opened at $141.23 on Wednesday. The company has a market cap of $16.15 billion, a price-to-earnings ratio of 307.02 and a beta of 3.23. The company has a fifty day moving average price of $131.69 and a 200 day moving average price of $104.24. CAVA Group has a 12 month low of $31.47 and a 12 month high of $172.43.

CAVA Group (NYSE:CAVA) last released its quarterly earnings results on Tuesday, November 12th. The company reported $0.15 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.11 by $0.04. The firm had revenue of $243.82 million for the quarter, compared to analyst estimates of $233.05 million. CAVA Group had a return on equity of 9.23% and a net margin of 5.88%. The business’s revenue was up 38.9% on a year-over-year basis. During the same quarter last year, the company posted $0.06 earnings per share. As a group, analysts anticipate that CAVA Group will post 0.46 earnings per share for the current year.

Insider Activity

In related news, CEO Brett Schulman sold 201,504 shares of the firm’s stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $125.53, for a total value of $25,294,797.12. Following the sale, the chief executive officer now directly owns 702,590 shares of the company’s stock, valued at approximately $88,196,122.70. This trade represents a 22.29 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Theodoros Xenohristos sold 98,490 shares of the company’s stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $125.77, for a total transaction of $12,387,087.30. Following the transaction, the director now directly owns 424,846 shares of the company’s stock, valued at $53,432,881.42. This trade represents a 18.82 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 304,994 shares of company stock valued at $38,310,084 over the last 90 days. Insiders own 12.10% of the company’s stock.

Hedge Funds Weigh In On CAVA Group

Hedge funds have recently made changes to their positions in the stock. Swiss National Bank raised its position in shares of CAVA Group by 50.2% in the 1st quarter. Swiss National Bank now owns 67,300 shares of the company’s stock worth $4,714,000 after buying an additional 22,500 shares during the period. Sei Investments Co. lifted its stake in shares of CAVA Group by 70.6% in the 1st quarter. Sei Investments Co. now owns 35,784 shares of the company’s stock valued at $2,507,000 after purchasing an additional 14,811 shares in the last quarter. Russell Investments Group Ltd. acquired a new position in shares of CAVA Group in the 1st quarter valued at about $6,532,000. Kingsview Wealth Management LLC acquired a new stake in CAVA Group during the 1st quarter worth approximately $294,000. Finally, Vanguard Group Inc. increased its position in CAVA Group by 215.7% during the 1st quarter. Vanguard Group Inc. now owns 4,944,036 shares of the company’s stock worth $346,330,000 after purchasing an additional 3,377,840 shares in the last quarter. Institutional investors and hedge funds 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.