CAVA Group (NYSE:CAVA) Price Target Raised to $163.00

CAVA Group (NYSE:CAVA) had its price target upped by Citigroup from $140.00 to $163.00 in a research report report published on Wednesday,Benzinga reports. Citigroup currently has a neutral rating on the stock.

A number of other equities analysts also recently issued reports on CAVA. UBS Group initiated coverage on shares of CAVA Group in a research note on Friday, September 27th. They issued a “neutral” rating and a $135.00 price target for the company. TD Securities raised their target price on CAVA Group from $115.00 to $130.00 and gave the company a “buy” rating in a research note on Tuesday, September 24th. Stifel Nicolaus upped their price target on CAVA Group from $118.00 to $175.00 and gave the stock a “buy” rating in a research note on Wednesday. Jefferies Financial Group raised their price objective on CAVA Group from $94.00 to $117.00 and gave the company a “buy” rating in a research report on Friday, August 23rd. Finally, Barclays upped their target price on shares of CAVA Group from $113.00 to $142.00 and gave the stock an “equal weight” rating in a research report on Wednesday. Eight analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, CAVA Group has a consensus rating of “Moderate Buy” and an average price target of $143.71.

CAVA Group Stock Performance

NYSE CAVA opened at $141.23 on Wednesday. The stock has a market cap of $16.15 billion, a P/E ratio of 307.02 and a beta of 3.23. CAVA Group has a fifty-two week low of $31.47 and a fifty-two week high of $172.43. The stock has a 50 day simple moving average of $131.69 and a two-hundred day simple moving average of $104.24.

CAVA Group (NYSE:CAVA) last announced its quarterly earnings results on Tuesday, November 12th. The company reported $0.15 EPS for the quarter, topping analysts’ consensus estimates of $0.11 by $0.04. The company had revenue of $243.82 million during 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 firm’s revenue was up 38.9% on a year-over-year basis. During the same quarter last year, the firm posted $0.06 earnings per share. Sell-side analysts predict that CAVA Group will post 0.46 earnings per share for the current year.

Insider Activity at CAVA Group

In other news, CFO Tricia K. Tolivar sold 5,000 shares of the company’s stock in a transaction dated Monday, August 26th. The shares were 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 1.68 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Brett Schulman sold 201,504 shares of the stock in a transaction that occurred on Monday, August 26th. The stock was 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 $88,196,122.70. The trade was a 22.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 304,994 shares of company stock valued at $38,310,084 over the last 90 days. Corporate insiders own 12.10% of the company’s stock.

Hedge Funds Weigh In On CAVA Group

Several institutional investors and hedge funds have recently bought and sold shares of CAVA. Capital Research Global Investors lifted its holdings in CAVA Group by 21.6% during the first quarter. Capital Research Global Investors now owns 5,311,335 shares of the company’s stock valued at $372,059,000 after purchasing an additional 942,054 shares in the last quarter. Vanguard Group Inc. grew its stake in CAVA Group by 215.7% during the first quarter. Vanguard Group Inc. now owns 4,944,036 shares of the company’s stock valued at $346,330,000 after acquiring an additional 3,377,840 shares in the last quarter. FMR LLC increased its holdings in CAVA Group by 0.9% in the 3rd quarter. FMR LLC now owns 3,485,033 shares of the company’s stock valued at $431,621,000 after acquiring an additional 29,668 shares during the last quarter. Two Sigma Advisers LP lifted its stake in CAVA Group by 17.0% in the 3rd quarter. Two Sigma Advisers LP now owns 2,210,900 shares of the company’s stock worth $273,820,000 after purchasing an additional 321,800 shares in the last quarter. Finally, State Street Corp boosted its holdings in shares of CAVA Group by 33.3% during the 3rd quarter. State Street Corp now owns 1,267,333 shares of the company’s stock valued at $156,959,000 after purchasing an additional 316,514 shares during the last quarter. 73.15% of the stock is currently owned by hedge funds and other 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.