CAVA Group’s (CAVA) “Outperform” Rating Reiterated at Wedbush

Wedbush reissued their outperform rating on shares of CAVA Group (NYSE:CAVA) in a report released on Tuesday morning, Benzinga reports. Wedbush currently has a $100.00 price objective on the stock.

A number of other equities analysts also recently commented on CAVA. Argus upgraded CAVA Group from a hold rating to a buy rating and set a $70.00 price objective on the stock in a report on Wednesday, April 10th. Citigroup lifted their price target on shares of CAVA Group from $60.00 to $81.00 and gave the company a neutral rating in a research report on Tuesday, May 21st. Piper Sandler lowered shares of CAVA Group from an overweight rating to a neutral rating and increased their price objective for the stock from $63.00 to $92.00 in a research report on Thursday, May 30th. Morgan Stanley raised their target price on shares of CAVA Group from $85.00 to $90.00 and gave the company an overweight rating in a research note on Tuesday, July 16th. Finally, TD Cowen upped their price target on shares of CAVA Group from $90.00 to $95.00 and gave the stock a buy rating in a research report on Thursday, June 13th. Six investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of Moderate Buy and a consensus price target of $82.75.

CAVA Group Trading Up 0.3 %

NYSE:CAVA opened at $84.48 on Tuesday. The firm has a market cap of $9.63 billion and a price-to-earnings ratio of 206.05. The company’s 50-day moving average is $88.08 and its two-hundred day moving average is $70.59. CAVA Group has a 12-month low of $29.05 and a 12-month high of $98.69.

CAVA Group (NYSE:CAVA) last released its earnings results on Tuesday, May 28th. The company reported $0.12 earnings per share for the quarter, topping the consensus estimate of $0.04 by $0.08. CAVA Group had a return on equity of 5.18% and a net margin of 3.75%. The firm had revenue of $259.01 million for the quarter, compared to the consensus estimate of $246.02 million. The firm’s revenue for the quarter was up 27.5% compared to the same quarter last year. On average, equities research analysts forecast that CAVA Group will post 0.34 earnings per share for the current fiscal year.

Insider Buying and Selling

In other CAVA Group news, CEO Brett Schulman sold 66,414 shares of the stock in a transaction on Friday, June 14th. The shares were sold at an average price of $90.11, for a total transaction of $5,984,565.54. Following the transaction, the chief executive officer now directly owns 904,094 shares in the company, valued at approximately $81,467,910.34. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other CAVA Group news, CFO Tricia K. Tolivar sold 5,949 shares of the business’s stock in a transaction on Monday, July 1st. The shares were sold at an average price of $94.47, for a total transaction of $562,002.03. Following the completion of the sale, the chief financial officer now owns 297,600 shares in the company, valued at $28,114,272. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Brett Schulman sold 66,414 shares of the firm’s stock in a transaction dated Friday, June 14th. The stock was sold at an average price of $90.11, for a total transaction of $5,984,565.54. Following the completion of the transaction, the chief executive officer now owns 904,094 shares in the company, valued at $81,467,910.34. The disclosure for this sale can be found here. Over the last quarter, insiders sold 1,420,564 shares of company stock worth $124,690,835.

Institutional Investors Weigh In On CAVA Group

Several institutional investors and hedge funds have recently bought and sold shares of CAVA. Vanguard Group Inc. boosted its stake in CAVA Group by 15.5% in the third quarter. Vanguard Group Inc. now owns 1,460,824 shares of the company’s stock valued at $44,745,000 after acquiring an additional 196,019 shares during the period. Raymond James & Associates boosted its position in CAVA Group by 299.4% during the 4th quarter. Raymond James & Associates now owns 166,946 shares of the company’s stock valued at $7,175,000 after purchasing an additional 125,143 shares during the period. Raymond James Financial Services Advisors Inc. grew its stake in CAVA Group by 22.7% during the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 8,610 shares of the company’s stock worth $370,000 after buying an additional 1,591 shares during the last quarter. Miracle Mile Advisors LLC acquired a new stake in CAVA Group in the fourth quarter worth $312,000. Finally, Arizona State Retirement System bought a new stake in CAVA Group in the fourth quarter valued at $273,000. 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.