William Blair Reiterates Outperform Rating for CAVA Group (NYSE:CAVA)

CAVA Group (NYSE:CAVA)‘s stock had its “outperform” rating reissued by equities research analysts at William Blair in a research note issued on Wednesday,RTT News reports.

A number of other equities analysts have also commented on the company. JPMorgan Chase & Co. raised their price target on CAVA Group from $90.00 to $110.00 and gave the stock a “neutral” rating in a report on Wednesday, November 13th. Piper Sandler raised their price target on CAVA Group from $100.00 to $142.00 and gave the company a “neutral” rating in a research report on Friday, November 15th. UBS Group cut their price target on shares of CAVA Group from $160.00 to $125.00 and set a “neutral” rating for the company in a research report on Tuesday, January 7th. Barclays dropped their price target on shares of CAVA Group from $127.00 to $104.00 and set an “equal weight” rating for the company in a research report on Wednesday. Finally, TD Securities cut their target price on CAVA Group from $150.00 to $130.00 and set a “buy” rating on the stock in a research note on Wednesday. Eight analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, CAVA Group presently has a consensus rating of “Moderate Buy” and an average price target of $136.40.

CAVA Group Price Performance

Shares of NYSE CAVA traded down $0.17 during midday trading on Wednesday, reaching $99.13. The company’s stock had a trading volume of 5,274,809 shares, compared to its average volume of 2,438,382. The stock has a market capitalization of $11.36 billion, a P/E ratio of 215.52 and a beta of 3.25. The firm has a 50 day moving average price of $122.12 and a 200-day moving average price of $125.97. CAVA Group has a 12-month low of $52.81 and a 12-month high of $172.43.

CAVA Group (NYSE:CAVA) last released its earnings results on Tuesday, February 25th. The company reported $0.05 earnings per share for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.01). CAVA Group had a net margin of 5.88% and a return on equity of 9.10%. The company had revenue of $227.40 million for the quarter, compared to the consensus estimate of $223.34 million. On average, equities analysts predict that CAVA Group will post 0.5 EPS for the current year.

Insider Buying and Selling at CAVA Group

In other news, Director Ronald M. Shaich sold 622,549 shares of the firm’s stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $149.40, for a total value of $93,008,820.60. Following the completion of the transaction, the director now owns 6,307 shares of the company’s stock, valued at approximately $942,265.80. This trade represents a 99.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Kenneth Robert Bertram sold 678 shares of the firm’s stock in a transaction that occurred on Monday, January 27th. The stock was sold at an average price of $124.39, for a total value of $84,336.42. Following the transaction, the insider now owns 57,312 shares in the company, valued at $7,129,039.68. This represents a 1.17 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 651,784 shares of company stock valued at $96,522,922. 12.10% of the stock is owned by company insiders.

Institutional Trading of CAVA Group

Several hedge funds and other institutional investors have recently bought and sold shares of CAVA. Liberty Square Wealth Partners LLC acquired a new position in shares of CAVA Group in the 4th quarter worth approximately $203,000. Forum Financial Management LP acquired a new stake in shares of CAVA Group during the 4th quarter valued at about $230,000. Public Employees Retirement System of Ohio raised its holdings in shares of CAVA Group by 1.3% in the 4th quarter. Public Employees Retirement System of Ohio now owns 27,763 shares of the company’s stock worth $3,132,000 after buying an additional 362 shares in the last quarter. Pinkerton Retirement Specialists LLC acquired a new position in CAVA Group in the fourth quarter valued at about $222,000. Finally, Castleark Management LLC bought a new position in CAVA Group in the 4th quarter valued at $4,902,000. 73.15% of the stock is owned by 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.