CAVA Group (NYSE:CAVA) Price Target Raised to $113.00

CAVA Group (NYSE:CAVA) had its price target upped by Barclays from $95.00 to $113.00 in a research report report published on Tuesday, Benzinga reports. Barclays currently has an equal weight rating on the stock.

CAVA has been the subject of a number of other reports. Stifel Nicolaus increased their price target on shares of CAVA Group from $90.00 to $110.00 and gave the stock a “buy” rating in a research note on Monday, August 19th. Argus lifted their price target on CAVA Group from $104.00 to $128.00 and gave the company a “buy” rating in a research report on Wednesday, September 11th. Morgan Stanley downgraded CAVA Group from an “overweight” rating to an “equal weight” rating and increased their price objective for the stock from $90.00 to $110.00 in a report on Thursday, August 29th. Robert W. Baird boosted their target price on shares of CAVA Group from $105.00 to $125.00 and gave the company an “outperform” rating in a report on Friday, August 23rd. Finally, Wedbush increased their price target on shares of CAVA Group from $100.00 to $120.00 and gave the stock an “outperform” rating in a research note on Friday, August 23rd. Eight equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, CAVA Group has a consensus rating of “Moderate Buy” and an average target price of $116.93.

CAVA Group Stock Performance

NYSE CAVA opened at $138.65 on Tuesday. The stock has a market cap of $15.81 billion, a P/E ratio of 338.17 and a beta of 3.33. CAVA Group has a fifty-two week low of $29.66 and a fifty-two week high of $139.50. The stock has a 50 day simple moving average of $122.89 and a two-hundred day simple moving average of $95.81.

CAVA Group (NYSE:CAVA) last released its quarterly earnings results on Thursday, August 22nd. The company reported $0.17 earnings per share for the quarter, beating the consensus estimate of $0.13 by $0.04. CAVA Group had a net margin of 5.04% and a return on equity of 7.37%. The business had revenue of $233.50 million for the quarter, compared to analysts’ expectations of $219.47 million. During the same quarter in the previous year, the business posted $0.21 earnings per share. The firm’s revenue for the quarter was up 35.1% compared to the same quarter last year. Sell-side analysts predict that CAVA Group will post 0.43 earnings per share for the current year.

Insider Activity at CAVA Group

In other CAVA Group news, Director Theodoros Xenohristos sold 98,490 shares of CAVA Group stock in a transaction on Monday, August 26th. The stock was sold at an average price of $125.77, for a total value of $12,387,087.30. Following the completion of the sale, the director now owns 424,846 shares of the company’s stock, valued at approximately $53,432,881.42. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other CAVA Group news, Director Theodoros Xenohristos sold 98,490 shares of the company’s stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $125.77, for a total transaction of $12,387,087.30. Following the transaction, the director now owns 424,846 shares in the company, valued at approximately $53,432,881.42. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Tricia K. Tolivar sold 5,000 shares of CAVA Group 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 sale, 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 disclosure for this sale can be found here. In the last three months, insiders have sold 304,994 shares of company stock valued at $38,310,084. 12.10% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On CAVA Group

Several hedge funds and other institutional investors have recently modified their holdings of CAVA. Yeomans Consulting Group Inc. purchased a new stake in CAVA Group during the third quarter valued at $591,000. PFG Investments LLC grew its stake in shares of CAVA Group by 36.8% during the 3rd quarter. PFG Investments LLC now owns 15,907 shares of the company’s stock valued at $1,970,000 after purchasing an additional 4,275 shares during the period. International Assets Investment Management LLC bought a new position in shares of CAVA Group in the 3rd quarter worth approximately $126,390,000. Lecap Asset Management Ltd. bought a new position in shares of CAVA Group in the 3rd quarter worth approximately $629,000. Finally, Nepsis Inc. boosted its holdings in shares of CAVA Group by 4.5% in the third quarter. Nepsis Inc. now owns 147,507 shares of the company’s stock worth $18,269,000 after buying an additional 6,380 shares during the last quarter. 73.15% of the stock is owned by institutional investors.

About CAVA Group

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.