CAVA Group (NYSE:CAVA) Price Target Raised to $142.00

CAVA Group (NYSE:CAVA) had its price target upped by Piper Sandler from $100.00 to $142.00 in a research note released on Friday,Benzinga reports. Piper Sandler currently has a neutral rating on the stock.

Several other equities analysts have also recently issued reports on CAVA. Morgan Stanley raised their price objective on CAVA Group from $123.00 to $135.00 and gave the stock an “equal weight” rating in a research note on Thursday. Jefferies Financial Group lifted their price target on shares of CAVA Group from $94.00 to $117.00 and gave the company a “buy” rating in a report on Friday, August 23rd. UBS Group began coverage on shares of CAVA Group in a research note on Friday, September 27th. They set a “neutral” rating and a $135.00 price objective on the stock. Loop Capital lifted their target price on CAVA Group from $122.00 to $147.00 and gave the company a “hold” rating in a research note on Thursday. Finally, William Blair reiterated an “outperform” rating on shares of CAVA Group in a research report on Wednesday. Eight research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $143.71.

CAVA Group Stock Up 2.2 %

Shares of CAVA Group stock traded up $3.04 during trading hours on Friday, hitting $141.38. The company’s stock had a trading volume of 3,975,464 shares, compared to its average volume of 2,763,479. The business has a fifty day moving average of $131.69 and a 200 day moving average of $104.24. The company has a market capitalization of $16.16 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.

CAVA Group (NYSE:CAVA) last released 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. The business had revenue of $243.82 million for the quarter, compared to analysts’ expectations of $233.05 million. CAVA Group had a return on equity of 9.23% and a net margin of 5.88%. The company’s revenue was up 38.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.06 earnings per share. On average, sell-side analysts anticipate that CAVA Group will post 0.46 earnings per share for the current fiscal year.

Insider Transactions at CAVA Group

In related news, Director Theodoros Xenohristos sold 98,490 shares of the firm’s stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $125.77, for a total value of $12,387,087.30. Following the completion of the transaction, the director now owns 424,846 shares of the company’s stock, valued at approximately $53,432,881.42. This trade represents a 18.82 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Brett Schulman sold 201,504 shares of CAVA Group stock in a transaction on Monday, August 26th. The shares were sold at an average price of $125.53, for a total value of $25,294,797.12. Following the transaction, the chief executive officer now owns 702,590 shares in the company, valued at $88,196,122.70. This represents a 22.29 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 304,994 shares of company stock valued at $38,310,084 in the last quarter. Insiders own 12.10% of the company’s stock.

Hedge Funds Weigh In On CAVA Group

A number of large investors have recently made changes to their positions in the business. Vanguard Group Inc. increased its stake in CAVA Group by 215.7% in the 1st quarter. Vanguard Group Inc. now owns 4,944,036 shares of the company’s stock valued at $346,330,000 after buying an additional 3,377,840 shares during the period. Capital Research Global Investors grew its holdings in shares of 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 acquiring an additional 942,054 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of CAVA Group by 121.0% in the third quarter. Geode Capital Management LLC now owns 1,222,834 shares of the company’s stock worth $151,492,000 after acquiring an additional 669,599 shares during the last quarter. Renaissance Technologies LLC raised its holdings in shares of CAVA Group by 102.5% during the second quarter. Renaissance Technologies LLC now owns 892,400 shares of the company’s stock worth $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 in the last quarter. Institutional investors and hedge funds own 73.15% of the company’s stock.

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.