CAVA Group, Inc. (NYSE:CAVA) Receives $81.50 Consensus Price Target from Brokerages

by · The Markets Daily

Shares of CAVA Group, Inc. (NYSE:CAVA – Get Free Report) have earned a consensus rating of “Moderate Buy” from the fourteen ratings firms that are covering the company, Marketbeat reports. Six analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The average 1-year price objective among brokers that have issued a report on the stock in the last year is $81.50.

CAVA has been the subject of several research reports. Stifel Nicolaus raised their target price on CAVA Group from $66.00 to $90.00 and gave the company a “buy” rating in a research note on Friday, May 24th. TD Cowen raised their target price on CAVA Group from $90.00 to $95.00 and gave the company a “buy” rating in a research note on Thursday, June 13th. Argus upgraded CAVA Group from a “hold” rating to a “buy” rating and set a $70.00 target price for the company in a research note on Wednesday, April 10th. Piper Sandler downgraded CAVA Group from an “overweight” rating to a “neutral” rating and raised their target price for the company from $63.00 to $92.00 in a research note on Thursday, May 30th. Finally, JPMorgan Chase & Co. downgraded CAVA Group from an “overweight” rating to a “neutral” rating and set a $77.00 target price for the company. in a research note on Monday, June 3rd.

Check Out Our Latest Analysis on CAVA Group

CAVA Group Trading Up 1.3 %

Shares of CAVA Group stock opened at $92.75 on Monday. The business has a 50-day moving average price of $81.72 and a two-hundred day moving average price of $63.58. CAVA Group has a 1-year low of $29.05 and a 1-year high of $97.64. The company has a market cap of $10.58 billion and a P/E ratio of 226.23.

CAVA Group (NYSE:CAVA – Get Free Report) last issued its quarterly earnings results on Tuesday, May 28th. The company reported $0.12 earnings per share for the quarter, topping analysts’ consensus estimates of $0.04 by $0.08. CAVA Group had a return on equity of 5.18% and a net margin of 3.75%. The firm had revenue of $259.01 million during the quarter, compared to the consensus estimate of $246.02 million. The firm’s revenue was up 27.5% on a year-over-year basis. Equities research analysts forecast that CAVA Group will post 0.34 EPS for the current fiscal year.

Insider Activity at CAVA Group

In other CAVA Group news, Director Ronald M. Shaich sold 1,231,979 shares of CAVA Group stock in a transaction that occurred on Wednesday, June 5th. The shares were sold at an average price of $87.25, for a total transaction of $107,490,167.75. Following the transaction, the director now owns 5,000 shares of the company’s stock, valued at approximately $436,250. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other CAVA Group news, Director Ronald M. Shaich sold 1,231,979 shares of CAVA Group stock in a transaction that occurred on Wednesday, June 5th. The shares were sold at an average price of $87.25, for a total transaction of $107,490,167.75. Following the transaction, the director now owns 5,000 shares of the company’s stock, valued at approximately $436,250. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Brett Schulman sold 66,414 shares of CAVA Group stock in a transaction that occurred on Friday, June 14th. The stock was sold at an average price of $90.11, for a total transaction of $5,984,565.54. Following the transaction, the chief executive officer now directly owns 904,094 shares in the company, valued at approximately $81,467,910.34. The disclosure for this sale can be found here. In the last quarter, insiders have sold 1,414,615 shares of company stock valued at $124,128,832.

Hedge Funds Weigh In On CAVA Group

Hedge funds have recently modified their holdings of the company. Barclays PLC raised its holdings in shares of CAVA Group by 80.0% in the 3rd quarter. Barclays PLC now owns 10,982 shares of the company’s stock worth $335,000 after purchasing an additional 4,882 shares during the period. Janney Montgomery Scott LLC bought a new stake in shares of CAVA Group in the 3rd quarter worth approximately $480,000. PNC Financial Services Group Inc. raised its holdings in shares of CAVA Group by 190.0% in the 3rd quarter. PNC Financial Services Group Inc. now owns 870 shares of the company’s stock worth $27,000 after purchasing an additional 570 shares during the period. Kestra Advisory Services LLC bought a new stake in shares of CAVA Group in the 3rd quarter worth approximately $795,000. Finally, FMR LLC raised its holdings in shares of CAVA Group by 92.1% in the 3rd quarter. FMR LLC now owns 1,138,113 shares of the company’s stock worth $34,860,000 after purchasing an additional 545,799 shares during the period. Institutional investors own 73.15% of the company’s stock.

CAVA Group Company Profile

(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.

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