JPMorgan Chase & Co. Raises CAVA Group (NYSE:CAVA) Price Target to $110.00

CAVA Group (NYSE:CAVA) had its price objective hoisted by JPMorgan Chase & Co. from $90.00 to $110.00 in a report issued on Wednesday morning,Benzinga reports. JPMorgan Chase & Co. currently has a neutral rating on the stock.

Other equities analysts also recently issued reports about the company. William Blair reissued an “outperform” rating on shares of CAVA Group in a research report on Wednesday. Robert W. Baird lifted their target price on CAVA Group from $125.00 to $148.00 and gave the stock an “outperform” rating in a report on Monday, November 4th. TD Securities increased their price target on shares of CAVA Group from $115.00 to $130.00 and gave the stock a “buy” rating in a report on Tuesday, September 24th. Argus upped their price objective on shares of CAVA Group from $104.00 to $128.00 and gave the company a “buy” rating in a report on Wednesday, September 11th. Finally, Citigroup raised their target price on shares of CAVA Group from $115.00 to $140.00 and gave the stock a “neutral” rating in a report on Tuesday, October 29th. Eight investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $143.71.

CAVA Group Stock Up 2.1 %

NYSE:CAVA opened at $141.23 on Wednesday. The stock has a market capitalization of $16.15 billion, a price-to-earnings ratio of 307.02 and a beta of 3.23. CAVA Group has a 52 week low of $31.47 and a 52 week high of $172.43. The firm has a 50 day moving average of $131.69 and a 200 day moving average of $104.24.

CAVA Group (NYSE:CAVA) last announced its earnings results on Tuesday, November 12th. The company reported $0.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.11 by $0.04. CAVA Group had a return on equity of 9.23% and a net margin of 5.88%. The company had revenue of $243.82 million for the quarter, compared to analyst estimates of $233.05 million. During the same period in the prior year, the company posted $0.06 EPS. The firm’s quarterly revenue was up 38.9% compared to the same quarter last year. As a group, analysts expect that CAVA Group will post 0.46 EPS for the current year.

Insider Buying and Selling

In related 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 completion of the transaction, the director now owns 424,846 shares in the company, valued at $53,432,881.42. This represents a 18.82 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Tricia K. Tolivar sold 5,000 shares of CAVA Group stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $125.64, for a total value of $628,200.00. Following the completion of the sale, the chief financial officer now owns 292,600 shares in the company, valued at approximately $36,762,264. The trade was a 1.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 304,994 shares of company stock valued at $38,310,084. 12.10% of the stock is owned by company insiders.

Hedge Funds Weigh In On CAVA Group

A number of hedge funds have recently made changes to their positions in CAVA. Jamison Private Wealth Management Inc. acquired a new stake in shares of CAVA Group in the second quarter worth approximately $28,000. Nemes Rush Group LLC purchased a new position in CAVA Group in the 2nd quarter valued at $28,000. Mark Sheptoff Financial Planning LLC acquired a new stake in CAVA Group during the 2nd quarter worth $36,000. Headlands Technologies LLC purchased a new stake in CAVA Group during the 2nd quarter valued at about $37,000. Finally, GAMMA Investing LLC grew its position in shares of CAVA Group by 68.3% in the third quarter. GAMMA Investing LLC now owns 308 shares of the company’s stock valued at $38,000 after purchasing an additional 125 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.