CAVA Group (NYSE:CAVA) Reaches New 12-Month High – Here’s Why

CAVA Group, Inc. (NYSE:CAVA)’s share price reached a new 52-week high during mid-day trading on Monday . The stock traded as high as $136.96 and last traded at $136.50, with a volume of 92348 shares. The stock had previously closed at $135.34.

Analysts Set New Price Targets

Several brokerages recently commented on CAVA. TD Cowen upped their price target on shares of CAVA Group from $115.00 to $130.00 and gave the company a “buy” rating in a report on Monday, September 23rd. Wedbush raised their price target on CAVA Group from $100.00 to $120.00 and gave the stock an “outperform” rating in a research note on Friday, August 23rd. TD Securities upped their price objective on CAVA Group from $115.00 to $130.00 and gave the company a “buy” rating in a research report on Tuesday, September 24th. Morgan Stanley downgraded CAVA Group from an “overweight” rating to an “equal weight” rating and lifted their target price for the stock from $90.00 to $110.00 in a research report on Thursday, August 29th. Finally, UBS Group began coverage on shares of CAVA Group in a report on Friday, September 27th. They issued a “neutral” rating and a $135.00 price target on the stock. Eight research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, CAVA Group presently has an average rating of “Moderate Buy” and a consensus target price of $116.93.

CAVA Group Stock Down 0.0 %

The business’s 50 day moving average is $121.25 and its 200 day moving average is $95.22. The company has a market cap of $15.54 billion, a P/E ratio of 332.41 and a beta of 3.33.

CAVA Group (NYSE:CAVA) last released its quarterly earnings results on Thursday, August 22nd. The company reported $0.17 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 analyst estimates of $219.47 million. During the same period in the previous year, the company posted $0.21 EPS. The business’s revenue for the quarter was up 35.1% compared to the same quarter last year. As a group, equities research analysts forecast that CAVA Group, Inc. will post 0.43 EPS for the current year.

Insider Buying and Selling at CAVA Group

In other news, CFO Tricia K. Tolivar sold 5,000 shares of CAVA Group stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $125.64, for a total value of $628,200.00. Following the transaction, the chief financial officer now owns 292,600 shares of the company’s stock, valued at $36,762,264. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, CEO Brett Schulman sold 201,504 shares of the company’s stock in a transaction dated 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 of the company’s stock, valued at $88,196,122.70. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CFO Tricia K. Tolivar sold 5,000 shares of the firm’s stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $125.64, for a total value of $628,200.00. Following the completion of the sale, the chief financial officer now directly owns 292,600 shares of the company’s stock, valued at approximately $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 sold 304,994 shares of company stock valued at $38,310,084. 12.10% of the stock is currently owned by insiders.

Hedge Funds Weigh In On CAVA Group

Hedge funds and other institutional investors have recently modified their holdings of the stock. Jamison Private Wealth Management Inc. acquired a new position in CAVA Group during the 2nd quarter valued at approximately $28,000. Nemes Rush Group LLC acquired a new position in shares of CAVA Group in the 2nd quarter valued at $28,000. CWM LLC raised its stake in CAVA Group by 101.2% in the 1st quarter. CWM LLC now owns 505 shares of the company’s stock worth $35,000 after acquiring an additional 254 shares during the last quarter. Mark Sheptoff Financial Planning LLC acquired a new stake in CAVA Group during the 2nd quarter worth about $36,000. Finally, Headlands Technologies LLC purchased a new stake in CAVA Group during the 2nd quarter valued at about $37,000. 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.