Brokerages Set CAVA Group, Inc. (NYSE:CAVA) Price Target at $143.80

Shares of CAVA Group, Inc. (NYSE:CAVA) have been assigned a consensus rating of “Moderate Buy” from the sixteen analysts that are covering the firm, MarketBeat reports. Eight equities research analysts have rated the stock with a hold recommendation and eight have given a buy recommendation to the company. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is $143.80.

A number of equities research analysts have recently issued reports on CAVA shares. Morgan Stanley upped their target price on shares of CAVA Group from $123.00 to $135.00 and gave the company an “equal weight” rating in a report on Thursday, November 14th. Loop Capital increased their price target on shares of CAVA Group from $122.00 to $147.00 and gave the company a “hold” rating in a report on Thursday, November 14th. Robert W. Baird increased their target price on shares of CAVA Group from $125.00 to $148.00 and gave the stock an “outperform” rating in a research report on Monday, November 4th. Piper Sandler increased their price target on shares of CAVA Group from $100.00 to $142.00 and gave the stock a “neutral” rating in a research report on Friday, November 15th. Finally, Barclays lifted their price objective on shares of CAVA Group from $113.00 to $142.00 and gave the company an “equal weight” rating in a report on Wednesday, November 13th.

CAVA Group Trading Down 1.6 %

Shares of NYSE CAVA opened at $141.23 on Thursday. The firm has a market cap of $16.18 billion, a PE ratio of 307.02 and a beta of 3.23. CAVA Group has a 1-year low of $31.47 and a 1-year high of $172.43. The company has a fifty day moving average price of $134.47 and a 200 day moving average price of $108.08.

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 net margin of 5.88% and a return on equity of 9.10%. The firm had revenue of $243.82 million for the quarter, compared to analysts’ expectations of $233.05 million. During the same period in the previous year, the firm posted $0.06 EPS. The company’s revenue for the quarter was up 38.9% on a year-over-year basis. Equities research analysts forecast that CAVA Group will post 0.5 EPS for the current year.

Insiders Place Their Bets

In other news, Director Karen Kochevar sold 15,000 shares of the firm’s stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $142.23, for a total transaction of $2,133,450.00. Following the sale, the director now directly owns 1,307 shares in the company, valued at $185,894.61. This trade represents a 91.99 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 12.10% of the company’s stock.

Hedge Funds Weigh In On CAVA Group

Institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. boosted its stake in shares of 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 during the period. Capital Research Global Investors lifted its holdings in CAVA Group by 21.6% during the 1st quarter. Capital Research Global Investors now owns 5,311,335 shares of the company’s stock valued at $372,059,000 after buying an additional 942,054 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of CAVA Group by 121.0% in the 3rd quarter. Geode Capital Management LLC now owns 1,222,834 shares of the company’s stock worth $151,492,000 after purchasing an additional 669,599 shares during the period. Renaissance Technologies LLC boosted its position in CAVA Group by 102.5% during the 2nd quarter. Renaissance Technologies LLC now owns 892,400 shares of the company’s stock valued at $82,770,000 after acquiring an additional 451,800 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its stake in CAVA Group by 262.8% in the third quarter. Charles Schwab Investment Management Inc. now owns 516,092 shares of the company’s stock valued at $63,918,000 after purchasing an additional 373,835 shares during the last quarter. 73.15% of the stock is owned by hedge funds and other 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.