CAVA Group (NYSE:CAVA) Stock Price Up 5% – Here’s What Happened

CAVA Group, Inc. (NYSE:CAVA) traded up 5% on Wednesday . The stock traded as high as $132.82 and last traded at $132.28. 822,992 shares were traded during mid-day trading, a decline of 57% from the average session volume of 1,922,434 shares. The stock had previously closed at $125.96.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on CAVA shares. Loop Capital upped their price objective on shares of CAVA Group from $122.00 to $147.00 and gave the company a “hold” rating in a report on Thursday, November 14th. Sanford C. Bernstein began coverage on shares of CAVA Group in a research note on Wednesday, November 20th. They set a “market perform” rating and a $145.00 price objective for the company. Robert W. Baird raised their target price on CAVA Group from $125.00 to $148.00 and gave the stock an “outperform” rating in a research note on Monday, November 4th. Barclays dropped their price target on CAVA Group from $142.00 to $127.00 and set an “equal weight” rating on the stock in a research note on Tuesday, January 7th. Finally, Citigroup lifted their target price on CAVA Group from $140.00 to $163.00 and gave the stock a “neutral” rating in a report on Wednesday, November 13th. Eight investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $142.13.

CAVA Group Trading Up 6.8 %

The business has a fifty day moving average of $125.46 and a two-hundred day moving average of $119.33. The company has a market cap of $15.41 billion, a price-to-earnings ratio of 292.30 and a beta of 3.21.

CAVA Group (NYSE:CAVA) last released its quarterly earnings results on Tuesday, November 12th. The company reported $0.15 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.11 by $0.04. The firm had revenue of $243.82 million for the quarter, compared to analysts’ expectations of $233.05 million. CAVA Group had a net margin of 5.88% and a return on equity of 9.10%. The firm’s revenue for the quarter was up 38.9% compared to the same quarter last year. During the same quarter last year, the company earned $0.06 EPS. On average, research analysts forecast that CAVA Group, Inc. will post 0.5 EPS for the current fiscal year.

Insider Buying and Selling

In related news, insider Theodoros Xenohristos sold 851 shares of CAVA Group stock in a transaction that occurred on Tuesday, January 21st. The stock was sold at an average price of $119.18, for a total transaction of $101,422.18. Following the transaction, the insider now owns 358,995 shares in the company, valued at approximately $42,785,024.10. This trade represents a 0.24 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Brett Schulman sold 20,564 shares of the company’s stock in a transaction on Tuesday, January 21st. The shares were sold at an average price of $119.18, for a total value of $2,450,817.52. Following the completion of the sale, the chief executive officer now owns 776,369 shares of the company’s stock, valued at approximately $92,527,657.42. The trade was a 2.58 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 676,050 shares of company stock worth $100,043,120 in the last 90 days. Insiders own 12.10% of the company’s stock.

Institutional Investors Weigh In On CAVA Group

Hedge funds have recently modified their holdings of the company. Conway Capital Management Inc. acquired a new position in CAVA Group in the 3rd quarter valued at about $5,524,000. SpiderRock Advisors LLC increased its position in shares of CAVA Group by 8.9% during the 3rd quarter. SpiderRock Advisors LLC now owns 479,319 shares of the company’s stock worth $59,364,000 after purchasing an additional 39,319 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in CAVA Group by 262.8% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 516,092 shares of the company’s stock valued at $63,918,000 after buying an additional 373,835 shares during the period. PFG Investments LLC lifted its position in CAVA Group by 36.8% in the third quarter. PFG Investments LLC now owns 15,907 shares of the company’s stock valued at $1,970,000 after buying an additional 4,275 shares during the last quarter. Finally, Aigen Investment Management LP purchased a new position in CAVA Group during the third quarter worth about $1,293,000. Hedge funds and other institutional investors own 73.15% of the company’s stock.

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.