CAVA Group (NYSE:CAVA) Sets New 52-Week High – Time to Buy?

CAVA Group, Inc. (NYSE:CAVA) shares reached a new 52-week high during mid-day trading on Monday . The company traded as high as $134.54 and last traded at $134.54, with a volume of 5869 shares. The stock had previously closed at $133.65.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on CAVA. Stifel Nicolaus lifted their price target on shares of CAVA Group from $90.00 to $110.00 and gave the company a “buy” rating in a research report on Monday, August 19th. Robert W. Baird lifted their target price on shares of CAVA Group from $105.00 to $125.00 and gave the company an “outperform” rating in a report on Friday, August 23rd. Wedbush increased their price target on CAVA Group from $100.00 to $120.00 and gave the company an “outperform” rating in a report on Friday, August 23rd. Argus upped their target price on CAVA Group from $104.00 to $128.00 and gave the stock a “buy” rating in a research report on Wednesday, September 11th. Finally, UBS Group began coverage on CAVA Group in a research report on Friday, September 27th. They set a “neutral” rating and a $135.00 price target on the stock. Eight equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $115.64.

CAVA Group Stock Performance

The company’s fifty day simple moving average is $116.55 and its two-hundred day simple moving average is $92.77. The company has a market capitalization of $15.28 billion, a price-to-earnings ratio of 326.73 and a beta of 3.33.

CAVA Group (NYSE:CAVA) last posted its quarterly earnings results on Thursday, August 22nd. The company reported $0.17 EPS for the quarter, topping analysts’ consensus estimates of $0.13 by $0.04. CAVA Group had a return on equity of 7.37% and a net margin of 5.04%. The business had revenue of $233.50 million during the quarter, compared to the consensus estimate of $219.47 million. During the same period last year, the firm earned $0.21 earnings per share. The company’s revenue for the quarter was up 35.1% compared to the same quarter last year. Sell-side analysts anticipate that CAVA Group, Inc. will post 0.43 EPS for the current year.

Insider Activity

In related news, 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 transaction, the chief executive officer now directly owns 702,590 shares in the company, valued at $88,196,122.70. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, Director Theodoros Xenohristos sold 98,490 shares of the company’s 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 transaction, the director now directly owns 424,846 shares of the company’s stock, valued at approximately $53,432,881.42. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Brett Schulman sold 201,504 shares of the firm’s stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $125.53, for a total value of $25,294,797.12. Following the completion of the sale, the chief executive officer now directly owns 702,590 shares in the company, valued at approximately $88,196,122.70. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 304,994 shares of company stock worth $38,310,084. 12.10% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in CAVA. Jamison Private Wealth Management Inc. acquired a new stake in shares of CAVA Group in the second quarter valued at approximately $28,000. Nemes Rush Group LLC bought a new position in CAVA Group in the 2nd quarter worth approximately $28,000. CWM LLC increased its position in CAVA Group by 101.2% in the 1st quarter. CWM LLC now owns 505 shares of the company’s stock valued at $35,000 after acquiring an additional 254 shares during the period. Mark Sheptoff Financial Planning LLC bought a new stake in CAVA Group during the 2nd quarter valued at $36,000. Finally, Headlands Technologies LLC bought a new position in shares of CAVA Group in the second quarter worth $37,000. 73.15% of the stock is currently 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.