CAVA Group’s (CAVA) Outperform Rating Reaffirmed at Wedbush

Wedbush reissued their outperform rating on shares of CAVA Group (NYSE:CAVA) in a research report report published on Wednesday morning,Benzinga reports. They currently have a $150.00 price objective on the stock.

Several other equities analysts have also recently commented on CAVA. Piper Sandler boosted their target price on CAVA Group from $100.00 to $142.00 and gave the stock a “neutral” rating in a research report on Friday, November 15th. Stifel Nicolaus boosted their price objective on CAVA Group from $118.00 to $175.00 and gave the stock a “buy” rating in a report on Wednesday, November 13th. Morgan Stanley raised their target price on shares of CAVA Group from $123.00 to $135.00 and gave the company an “equal weight” rating in a research note on Thursday, November 14th. Sanford C. Bernstein started coverage on shares of CAVA Group in a research report on Wednesday, November 20th. They set a “market perform” rating and a $145.00 target price for the company. Finally, William Blair reissued an “outperform” rating on shares of CAVA Group in a report on Wednesday, November 13th. Eight equities 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 stock presently has an average rating of “Moderate Buy” and a consensus price target of $136.40.

CAVA Group Trading Down 0.5 %

CAVA stock opened at $98.77 on Wednesday. The firm has a 50 day moving average of $122.12 and a 200-day moving average of $125.97. The firm has a market capitalization of $11.32 billion, a P/E ratio of 214.71 and a beta of 3.25. CAVA Group has a 12 month low of $52.81 and a 12 month high of $172.43.

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

Insider Transactions at CAVA Group

In other news, insider Theodoros Xenohristos sold 851 shares of the firm’s stock in a transaction that occurred on Tuesday, January 21st. The shares were sold at an average price of $119.18, for a total value of $101,422.18. Following the transaction, the insider now owns 358,995 shares in the company, valued at approximately $42,785,024.10. This trade represents a 0.24 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Ronald M. Shaich sold 622,549 shares of CAVA Group stock in a transaction on Monday, December 9th. The stock was sold at an average price of $149.40, for a total transaction of $93,008,820.60. Following the completion of the transaction, the director now directly owns 6,307 shares in the company, valued at approximately $942,265.80. The trade was a 99.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 651,784 shares of company stock worth $96,522,922. Company insiders own 12.10% of the company’s stock.

Hedge Funds Weigh In On CAVA Group

Several hedge funds and other institutional investors have recently modified their holdings of CAVA. Jennison Associates LLC increased its holdings in CAVA Group by 36,658.7% during the 4th quarter. Jennison Associates LLC now owns 2,461,732 shares of the company’s stock valued at $277,683,000 after purchasing an additional 2,455,035 shares during the period. Vanguard Group Inc. grew its position in shares of CAVA Group by 20.4% in the 4th quarter. Vanguard Group Inc. now owns 8,011,602 shares of the company’s stock worth $903,709,000 after buying an additional 1,357,187 shares during the last quarter. Man Group plc increased its stake in shares of CAVA Group by 563.7% during the fourth quarter. Man Group plc now owns 935,075 shares of the company’s stock valued at $105,476,000 after buying an additional 794,187 shares during the period. Geode Capital Management LLC raised its holdings in shares of CAVA Group by 121.0% during the third quarter. Geode Capital Management LLC now owns 1,222,834 shares of the company’s stock valued at $151,492,000 after acquiring an additional 669,599 shares in the last quarter. Finally, Barclays PLC lifted its stake in CAVA Group by 116.7% in the fourth quarter. Barclays PLC now owns 84,755 shares of the company’s stock worth $9,560,000 after acquiring an additional 591,866 shares during the period. 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.