CAVA Group (NYSE:CAVA) Upgraded to Overweight at Piper Sandler

Piper Sandler upgraded shares of CAVA Group (NYSE:CAVA) from a neutral rating to an overweight rating in a research note issued to investors on Friday, MarketBeat reports. The brokerage currently has $115.00 price target on the stock, down from their prior price target of $142.00.

Several other brokerages have also recently issued reports on CAVA. William Blair restated an “outperform” rating on shares of CAVA Group in a research note on Wednesday. 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, November 14th. UBS Group reduced their price objective on CAVA Group from $160.00 to $125.00 and set a “neutral” rating on the stock in a research note on Tuesday, January 7th. JPMorgan Chase & Co. raised their price objective on CAVA Group from $90.00 to $110.00 and gave the stock a “neutral” rating in a research note on Wednesday, November 13th. Finally, Stifel Nicolaus raised their price objective on CAVA Group from $118.00 to $175.00 and gave the stock a “buy” rating in a research note on Wednesday, November 13th. Seven research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, CAVA Group presently has an average rating of “Moderate Buy” and an average price target of $131.47.

CAVA Group Stock Up 5.4 %

Shares of CAVA opened at $94.98 on Friday. The business’s 50 day moving average is $121.21 and its two-hundred day moving average is $125.53. CAVA Group has a 52-week low of $56.03 and a 52-week high of $172.43. The firm has a market cap of $10.88 billion, a price-to-earnings ratio of 206.47 and a beta of 3.25.

CAVA Group (NYSE:CAVA) last announced its earnings results on Tuesday, February 25th. The company reported $0.05 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.01). CAVA Group had a net margin of 5.88% and a return on equity of 9.10%. The business had revenue of $227.40 million during the quarter, compared to analyst estimates of $223.34 million. On average, equities analysts expect that CAVA Group will post 0.5 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Ronald M. Shaich sold 622,549 shares of the firm’s 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 transaction, the director now directly owns 6,307 shares of the company’s stock, valued at approximately $942,265.80. This trade represents a 99.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Adam David Phillips sold 615 shares of the firm’s stock in a transaction on Monday, January 27th. The shares were sold at an average price of $124.39, for a total value of $76,499.85. Following the transaction, the chief accounting officer now directly owns 10,884 shares in the company, valued at $1,353,860.76. This trade represents a 5.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 651,784 shares of company stock valued at $96,522,922. Company insiders own 12.10% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Arcadia Investment Management Corp MI acquired a new position in CAVA Group during the fourth quarter worth about $25,000. Allworth Financial LP grew its holdings in CAVA Group by 369.2% during the fourth quarter. Allworth Financial LP now owns 244 shares of the company’s stock worth $30,000 after acquiring an additional 192 shares during the period. Larson Financial Group LLC grew its holdings in CAVA Group by 274.0% during the fourth quarter. Larson Financial Group LLC now owns 273 shares of the company’s stock worth $31,000 after acquiring an additional 200 shares during the period. Whittier Trust Co. grew its holdings in CAVA Group by 80.9% during the fourth quarter. Whittier Trust Co. now owns 284 shares of the company’s stock worth $32,000 after acquiring an additional 127 shares during the period. Finally, Signaturefd LLC grew its holdings in CAVA Group by 884.4% during the fourth quarter. Signaturefd LLC now owns 315 shares of the company’s stock worth $36,000 after acquiring an additional 283 shares during the period. 73.15% of the stock is owned by institutional investors and hedge funds.

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.