CAVA Group (NYSE:CAVA) Price Target Raised to $142.00

CAVA Group (NYSE:CAVA) had its price objective boosted by Barclays from $113.00 to $142.00 in a research report sent to investors on Wednesday morning,Benzinga reports. They currently have an equal weight rating on the stock.

A number of other equities analysts have also issued reports on the company. Morgan Stanley lowered CAVA Group from an “overweight” rating to an “equal weight” rating and upped their target price for the company from $90.00 to $110.00 in a research report on Thursday, August 29th. Citigroup increased their price objective on shares of CAVA Group from $115.00 to $140.00 and gave the company a “neutral” rating in a research note on Tuesday, October 29th. William Blair reissued an “outperform” rating on shares of CAVA Group in a research report on Wednesday. Loop Capital increased their price target on shares of CAVA Group from $80.00 to $122.00 and gave the stock a “hold” rating in a research report on Monday, August 26th. Finally, Wedbush boosted their price objective on CAVA Group from $155.00 to $190.00 and gave the company an “outperform” rating in a report on Wednesday. Eight analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, CAVA Group currently has a consensus rating of “Moderate Buy” and an average price target of $143.71.

CAVA Group Price Performance

CAVA Group stock opened at $141.23 on Wednesday. CAVA Group has a 12-month low of $31.47 and a 12-month high of $172.43. The company has a market capitalization of $16.15 billion, a price-to-earnings ratio of 307.02 and a beta of 3.23. The firm’s fifty day moving average price is $131.69 and its 200 day moving average price is $104.24.

CAVA Group (NYSE:CAVA) last announced its earnings results on Tuesday, November 12th. The company reported $0.15 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.11 by $0.04. The business had revenue of $243.82 million for the quarter, compared to analyst estimates of $233.05 million. CAVA Group had a return on equity of 9.23% and a net margin of 5.88%. The company’s revenue for the quarter was up 38.9% compared to the same quarter last year. During the same period in the previous year, the company earned $0.06 earnings per share. Analysts forecast that CAVA Group will post 0.46 earnings per share for the current fiscal year.

Insider Activity

In other CAVA Group news, CEO Brett Schulman sold 201,504 shares of CAVA Group 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 sale, the chief executive officer now owns 702,590 shares of the company’s stock, valued at $88,196,122.70. The trade was a 22.29 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Tricia K. Tolivar sold 5,000 shares of the firm’s stock in a transaction 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 directly owns 292,600 shares in the company, valued at $36,762,264. This trade represents a 1.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 304,994 shares of company stock valued at $38,310,084. 12.10% of the stock is currently owned by company insiders.

Institutional Trading of CAVA Group

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Conway Capital Management Inc. acquired a new position in shares of CAVA Group during the third quarter valued at approximately $5,524,000. M&T Bank Corp boosted its stake in CAVA Group by 75.2% during the 3rd quarter. M&T Bank Corp now owns 6,320 shares of the company’s stock valued at $783,000 after purchasing an additional 2,712 shares in the last quarter. Nomura Asset Management Co. Ltd. acquired a new position in shares of CAVA Group during the 3rd quarter valued at $285,000. MML Investors Services LLC bought a new stake in shares of CAVA Group in the 3rd quarter worth $288,000. Finally, XTX Topco Ltd acquired a new stake in shares of CAVA Group in the third quarter valued at $828,000. 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.