Wedbush Boosts CAVA Group (NYSE:CAVA) Price Target to $190.00

CAVA Group (NYSE:CAVA) had its target price lifted by investment analysts at Wedbush from $155.00 to $190.00 in a report released on Wednesday,Benzinga reports. The firm presently has an “outperform” rating on the stock. Wedbush’s price target would suggest a potential upside of 31.01% from the stock’s previous close.

A number of other equities analysts also recently weighed in on CAVA. Loop Capital upped their price target on shares of CAVA Group from $80.00 to $122.00 and gave the stock a “hold” rating in a research note on Monday, August 26th. Morgan Stanley lowered CAVA Group from an “overweight” rating to an “equal weight” rating and upped their target price for the stock from $90.00 to $110.00 in a research report on Thursday, August 29th. Citigroup lifted their price target on CAVA Group from $115.00 to $140.00 and gave the company a “neutral” rating in a report on Tuesday, October 29th. Jefferies Financial Group increased their price objective on CAVA Group from $94.00 to $117.00 and gave the stock a “buy” rating in a report on Friday, August 23rd. Finally, Argus lifted their target price on shares of CAVA Group from $104.00 to $128.00 and gave the company a “buy” rating in a research note on Wednesday, September 11th. Eight equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, CAVA Group currently has an average rating of “Moderate Buy” and an average price target of $125.36.

CAVA Group Price Performance

CAVA stock opened at $145.03 on Wednesday. The company’s 50 day simple moving average is $130.09 and its 200-day simple moving average is $103.20. CAVA Group has a 52-week low of $30.00 and a 52-week high of $151.56. The firm has a market capitalization of $16.58 billion, a P/E ratio of 391.97 and a beta of 3.23.

CAVA Group (NYSE:CAVA) last announced its quarterly earnings data on Thursday, August 22nd. The company reported $0.17 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.13 by $0.04. CAVA Group had a return on equity of 7.37% and a net margin of 5.04%. The firm had revenue of $233.50 million during the quarter, compared to the consensus estimate of $219.47 million. During the same period in the prior year, the business earned $0.21 EPS. The business’s revenue for the quarter was up 35.1% on a year-over-year basis. Sell-side analysts predict that CAVA Group will post 0.44 EPS for the current fiscal year.

Insider Transactions at CAVA Group

In related news, Director Theodoros Xenohristos sold 98,490 shares of the stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $125.77, for a total transaction of $12,387,087.30. Following the completion of the sale, the director now owns 424,846 shares in the company, valued at $53,432,881.42. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other CAVA Group news, Director Theodoros Xenohristos sold 98,490 shares of the firm’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 sale, the director now directly owns 424,846 shares in the company, valued at $53,432,881.42. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Tricia K. Tolivar sold 5,000 shares of the company’s stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $125.64, for a total transaction of $628,200.00. Following the transaction, the chief financial officer now directly owns 292,600 shares of the company’s stock, valued at $36,762,264. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 304,994 shares of company stock worth $38,310,084. Company insiders own 12.10% of the company’s stock.

Institutional Trading of CAVA Group

Institutional investors and hedge funds have recently modified their holdings of the company. SpiderRock Advisors LLC boosted its stake in CAVA Group by 8.9% during the third quarter. SpiderRock Advisors LLC now owns 479,319 shares of the company’s stock worth $59,364,000 after buying an additional 39,319 shares in the last quarter. Xponance Inc. lifted its holdings in shares of CAVA Group by 95.2% during the 2nd quarter. Xponance Inc. now owns 9,846 shares of the company’s stock worth $913,000 after acquiring an additional 4,803 shares during the period. PFG Investments LLC boosted its position in shares of CAVA Group by 36.8% during the 3rd quarter. PFG Investments LLC now owns 15,907 shares of the company’s stock valued at $1,970,000 after acquiring an additional 4,275 shares in the last quarter. Intech Investment Management LLC bought a new stake in CAVA Group in the second quarter valued at about $1,728,000. Finally, Aigen Investment Management LP acquired a new position in CAVA Group in the third quarter worth about $1,293,000. 73.15% of the stock is currently owned by institutional investors.

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.