CAVA Group (NYSE:CAVA) Price Target Raised to $113.00

by · The Cerbat Gem

CAVA Group (NYSE:CAVA – Free Report) had its price target boosted by Barclays from $95.00 to $113.00 in a report issued on Tuesday, Benzinga reports. Barclays currently has an equal weight rating on the stock.

A number of other analysts have also weighed in on the stock. Morgan Stanley lowered shares of CAVA Group from an “overweight” rating to an “equal weight” rating and increased their price objective for the stock from $90.00 to $110.00 in a research report on Thursday, August 29th. TD Cowen boosted their price objective on CAVA Group from $115.00 to $130.00 and gave the company a “buy” rating in a report on Monday, September 23rd. UBS Group initiated coverage on CAVA Group in a research report on Friday, September 27th. They issued a “neutral” rating and a $135.00 price objective on the stock. Argus lifted 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, Stifel Nicolaus raised their price target on shares of CAVA Group from $90.00 to $110.00 and gave the stock a “buy” rating in a research note on Monday, August 19th. Eight equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $116.93.

Check Out Our Latest Research Report on CAVA

CAVA Group Price Performance

NYSE:CAVA opened at $136.17 on Tuesday. The firm has a market capitalization of $15.53 billion, a price-to-earnings ratio of 332.12 and a beta of 3.33. The business has a 50 day simple moving average of $123.64 and a 200-day simple moving average of $96.30. CAVA Group has a 1 year low of $29.66 and a 1 year high of $140.69.

CAVA Group (NYSE:CAVA – Get Free Report) last posted its quarterly earnings data 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 net margin of 5.04% and a return on equity of 7.37%. The company 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 firm earned $0.21 earnings per share. CAVA Group’s quarterly revenue was up 35.1% compared to the same quarter last year. As a group, analysts expect that CAVA Group will post 0.43 earnings per share for the current fiscal year.

Insider Activity at CAVA Group

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

Hedge Funds Weigh In On CAVA Group

A number of large investors have recently made changes to their positions in the business. Financial Advocates Investment Management boosted its position in shares of CAVA Group by 12.6% in the 3rd quarter. Financial Advocates Investment Management now owns 3,125 shares of the company’s stock worth $387,000 after purchasing an additional 349 shares in the last quarter. Yeomans Consulting Group Inc. purchased a new stake in CAVA Group in the third quarter valued at about $591,000. PFG Investments LLC boosted its holdings in CAVA Group by 36.8% in the third quarter. PFG Investments LLC now owns 15,907 shares of the company’s stock worth $1,970,000 after acquiring an additional 4,275 shares in the last quarter. International Assets Investment Management LLC purchased a new stake in shares of CAVA Group during the third quarter worth about $126,390,000. Finally, Lecap Asset Management Ltd. acquired a new position in shares of CAVA Group during the third quarter valued at about $629,000. 73.15% of the stock is owned by institutional investors and hedge funds.

About CAVA Group

(Get Free Report)

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.

Read More