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

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

Several other brokerages also recently weighed in on CAVA. TD Securities increased their price target on shares of CAVA Group from $115.00 to $130.00 and gave the stock a “buy” rating in a report on Tuesday, September 24th. JPMorgan Chase & Co. raised their target price 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. Stifel Nicolaus upped their price target on shares of CAVA Group from $90.00 to $110.00 and gave the company a “buy” rating in a report on Monday, August 19th. Loop Capital lifted their price objective on CAVA Group from $80.00 to $122.00 and gave the company a “hold” rating in a research note on Monday, August 26th. Finally, Wedbush upped their target price on CAVA Group from $155.00 to $190.00 and gave the stock an “outperform” rating in a research note on Wednesday. Eight investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $136.57.

CAVA Group Trading Up 1.6 %

NYSE:CAVA opened at $147.31 on Wednesday. The firm has a fifty day simple moving average of $130.75 and a 200-day simple moving average of $103.50. CAVA Group has a 12 month low of $31.41 and a 12 month high of $172.43. The company has a market capitalization of $16.84 billion, a P/E ratio of 320.24 and a beta of 3.23.

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, beating the consensus estimate of $0.11 by $0.04. The business had revenue of $243.82 million for the quarter, compared to the consensus estimate of $233.05 million. CAVA Group had a return on equity of 9.23% and a net margin of 5.88%. The company’s quarterly revenue was up 38.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.06 EPS. Equities analysts forecast that CAVA Group will post 0.44 EPS for the current year.

Insider Buying and Selling

In other CAVA Group 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 transaction, the chief executive officer now directly owns 702,590 shares of the company’s stock, valued at $88,196,122.70. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other CAVA Group news, CFO Tricia K. Tolivar sold 5,000 shares of the stock in a transaction that occurred 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 completion of the transaction, the chief financial officer now owns 292,600 shares of the company’s stock, valued at $36,762,264. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Brett Schulman sold 201,504 shares of CAVA Group stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $125.53, for a total value of $25,294,797.12. Following the completion of the sale, the chief executive officer now directly owns 702,590 shares in the company, valued at $88,196,122.70. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 304,994 shares of company stock valued at $38,310,084. 12.10% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On CAVA Group

Several institutional investors and hedge funds have recently added to or reduced their stakes in CAVA. Vanguard Group Inc. lifted its stake in shares of CAVA Group by 215.7% in the first quarter. Vanguard Group Inc. now owns 4,944,036 shares of the company’s stock worth $346,330,000 after buying an additional 3,377,840 shares in the last quarter. Capital Research Global Investors raised its holdings in CAVA Group by 21.6% in the 1st quarter. Capital Research Global Investors now owns 5,311,335 shares of the company’s stock valued at $372,059,000 after acquiring an additional 942,054 shares during the last quarter. Renaissance Technologies LLC lifted its stake in CAVA Group by 102.5% in the 2nd quarter. Renaissance Technologies LLC now owns 892,400 shares of the company’s stock worth $82,770,000 after purchasing an additional 451,800 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of CAVA Group by 262.8% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 516,092 shares of the company’s stock worth $63,918,000 after purchasing an additional 373,835 shares during the last quarter. Finally, Eagle Asset Management Inc. grew its position in shares of CAVA Group by 233.4% in the third quarter. Eagle Asset Management Inc. now owns 398,991 shares of the company’s stock valued at $49,415,000 after purchasing an additional 279,306 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.