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

CAVA Group (NYSE:CAVA) had its price target raised by Barclays from $113.00 to $142.00 in a report issued on Wednesday,Benzinga reports. The firm currently has an equal weight rating on the stock.

Several other research firms have also commented on CAVA. Argus increased their target price on CAVA Group from $104.00 to $128.00 and gave the company a “buy” rating in a report on Wednesday, September 11th. Jefferies Financial Group upped their price objective on CAVA Group from $94.00 to $117.00 and gave the stock a “buy” rating in a research report on Friday, August 23rd. Morgan Stanley lowered CAVA Group from an “overweight” rating to an “equal weight” rating and raised their target price for the stock from $90.00 to $110.00 in a research report on Thursday, August 29th. Loop Capital upped their price target on CAVA Group from $80.00 to $122.00 and gave the company a “hold” rating in a report on Monday, August 26th. Finally, TD Cowen increased their price target on shares of CAVA Group from $130.00 to $150.00 and gave the company a “buy” rating in a research note on Wednesday. Eight 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 presently has an average rating of “Moderate Buy” and a consensus target price of $143.71.

CAVA Group Stock Performance

Shares of CAVA opened at $141.38 on Wednesday. CAVA Group has a 1 year low of $31.47 and a 1 year high of $172.43. The stock has a market capitalization of $16.16 billion, a PE ratio of 307.35 and a beta of 3.23. The stock has a 50-day simple moving average of $131.69 and a 200-day simple moving average of $104.46.

CAVA Group (NYSE:CAVA) last issued its quarterly earnings results on Tuesday, November 12th. The company reported $0.15 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.11 by $0.04. CAVA Group had a net margin of 5.88% and a return on equity of 9.23%. The company had revenue of $243.82 million during the quarter, compared to the consensus estimate of $233.05 million. During the same quarter in the previous year, the firm earned $0.06 earnings per share. The firm’s quarterly revenue was up 38.9% on a year-over-year basis. Analysts predict that CAVA Group will post 0.46 EPS for the current year.

Insider Activity

In other CAVA Group news, Director Theodoros Xenohristos sold 98,490 shares of the business’s stock in a transaction 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 transaction, the director now directly owns 424,846 shares of the company’s stock, valued at approximately $53,432,881.42. The trade was a 18.82 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Brett Schulman sold 201,504 shares of the firm’s stock in a transaction 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 sale, the chief executive officer now owns 702,590 shares of the company’s stock, valued at $88,196,122.70. This trade represents a 22.29 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 304,994 shares of company stock valued at $38,310,084. Insiders own 12.10% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its position in CAVA Group by 215.7% during the 1st quarter. Vanguard Group Inc. now owns 4,944,036 shares of the company’s stock worth $346,330,000 after purchasing an additional 3,377,840 shares during the period. Capital Research Global Investors boosted its stake in shares of CAVA Group by 21.6% in the first quarter. Capital Research Global Investors now owns 5,311,335 shares of the company’s stock valued at $372,059,000 after buying an additional 942,054 shares in the last quarter. Geode Capital Management LLC grew its holdings in CAVA Group by 121.0% during 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 period. Renaissance Technologies LLC raised its position in CAVA Group by 102.5% in 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. lifted its holdings 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 acquiring an additional 373,835 shares during the period. 73.15% of the stock is owned by hedge funds and other 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.