CAVA Group (NYSE:CAVA) Given New $147.00 Price Target at Loop Capital

CAVA Group (NYSE:CAVA) had its price objective raised by research analysts at Loop Capital from $122.00 to $147.00 in a report issued on Thursday,Benzinga reports. The firm currently has a “hold” rating on the stock. Loop Capital’s price objective points to a potential upside of 4.94% from the company’s previous close.

Several other analysts have also issued reports on the company. William Blair reissued an “outperform” rating on shares of CAVA Group in a report on Wednesday. Argus raised their target price on shares of CAVA Group from $104.00 to $128.00 and gave the company a “buy” rating in a report on Wednesday, September 11th. JPMorgan Chase & Co. upped their price target on shares of CAVA Group from $90.00 to $110.00 and gave the stock a “neutral” rating in a report on Wednesday. Citigroup boosted their price objective on shares of CAVA Group from $140.00 to $163.00 and gave the company a “neutral” rating in a research report on Wednesday. Finally, Jefferies Financial Group lifted their price target on CAVA Group from $94.00 to $117.00 and gave the company a “buy” rating in a research note on Friday, August 23rd. Eight analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $140.14.

CAVA Group Price Performance

CAVA Group stock traded down $7.22 during trading hours on Thursday, hitting $140.08. The company had a trading volume of 2,970,686 shares, compared to its average volume of 2,744,753. CAVA Group has a one year low of $31.47 and a one year high of $172.43. The firm has a market cap of $16.01 billion, a PE ratio of 305.65 and a beta of 3.23. The firm has a 50-day moving average of $130.75 and a 200 day moving average of $103.50.

CAVA Group (NYSE:CAVA) last posted its earnings results on Tuesday, November 12th. The company reported $0.15 earnings per share for the quarter, topping analysts’ consensus estimates of $0.11 by $0.04. CAVA Group had a return on equity of 9.23% and a net margin of 5.88%. The company had revenue of $243.82 million during the quarter, compared to the consensus estimate of $233.05 million. During the same quarter last year, the firm earned $0.06 earnings per share. The company’s revenue was up 38.9% on a year-over-year basis. As a group, research analysts expect that CAVA Group will post 0.44 earnings per share for the current year.

Insiders Place Their Bets

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

Institutional Investors Weigh In On CAVA Group

Large investors have recently modified their holdings of the company. Vanguard Group Inc. boosted its position in CAVA Group by 215.7% during the first quarter. Vanguard Group Inc. now owns 4,944,036 shares of the company’s stock valued at $346,330,000 after acquiring an additional 3,377,840 shares during the last quarter. Capital Research Global Investors grew its stake in CAVA Group by 21.6% during the first quarter. Capital Research Global Investors now owns 5,311,335 shares of the company’s stock worth $372,059,000 after purchasing an additional 942,054 shares during the period. Renaissance Technologies LLC increased its holdings in CAVA Group by 102.5% in the second quarter. Renaissance Technologies LLC now owns 892,400 shares of the company’s stock worth $82,770,000 after purchasing an additional 451,800 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of CAVA Group by 262.8% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 516,092 shares of the company’s stock worth $63,918,000 after buying an additional 373,835 shares during the period. Finally, Eagle Asset Management Inc. grew its holdings in CAVA Group by 233.4% in the third quarter. Eagle Asset Management Inc. now owns 398,991 shares of the company’s stock worth $49,415,000 after purchasing an additional 279,306 shares during the period. 73.15% of the stock is currently owned by institutional investors and hedge funds.

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.