Jefferies Financial Group Increases CAVA Group (NYSE:CAVA) Price Target to $117.00

CAVA Group (NYSE:CAVA) had its target price upped by stock analysts at Jefferies Financial Group from $94.00 to $117.00 in a research report issued to clients and investors on Friday, Benzinga reports. The brokerage currently has a “buy” rating on the stock. Jefferies Financial Group’s price objective suggests a potential downside of 4.10% from the company’s previous close.

A number of other equities analysts have also recently issued reports on CAVA. Robert W. Baird increased their target price on CAVA Group from $105.00 to $125.00 and gave the stock an “outperform” rating in a report on Friday. Piper Sandler downgraded CAVA Group from an “overweight” rating to a “neutral” rating and increased their price objective for the stock from $63.00 to $92.00 in a report on Thursday, May 30th. JPMorgan Chase & Co. cut CAVA Group from an “overweight” rating to a “neutral” rating and set a $77.00 target price on the stock. in a research note on Monday, June 3rd. 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. Finally, Wedbush boosted their price objective on shares of CAVA Group from $100.00 to $120.00 and gave the stock an “outperform” rating in a research report on Friday. Six research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat, CAVA Group currently has an average rating of “Moderate Buy” and a consensus price target of $97.17.

CAVA Group Price Performance

Shares of CAVA Group stock opened at $122.00 on Friday. CAVA Group has a 1 year low of $29.05 and a 1 year high of $125.87. The company has a market capitalization of $13.91 billion, a P/E ratio of 297.56 and a beta of 3.27. The business has a 50-day moving average of $89.86 and a two-hundred day moving average of $76.01.

CAVA Group (NYSE:CAVA) last announced its earnings results on Thursday, August 22nd. The company reported $0.17 EPS for the quarter, topping the consensus estimate of $0.13 by $0.04. The firm had revenue of $233.50 million for the quarter, compared to the consensus estimate of $219.47 million. CAVA Group had a net margin of 3.75% and a return on equity of 5.18%. The business’s quarterly revenue was up 35.1% on a year-over-year basis. During the same period last year, the company posted $0.21 EPS. On average, equities analysts anticipate that CAVA Group will post 0.34 EPS for the current fiscal year.

Insider Activity

In other news, CEO Brett Schulman sold 66,414 shares of the company’s stock in a transaction dated Friday, June 14th. The shares were sold at an average price of $90.11, for a total value of $5,984,565.54. Following the sale, the chief executive officer now directly owns 904,094 shares of the company’s stock, valued at approximately $81,467,910.34. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, CEO Brett Schulman sold 66,414 shares of the business’s 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 of the company’s stock, valued at approximately $81,467,910.34. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Tricia K. Tolivar sold 5,949 shares of the firm’s stock in a transaction on Monday, July 1st. The shares were sold at an average price of $94.47, for a total value of $562,002.03. Following the sale, the chief financial officer now directly owns 297,600 shares of the company’s stock, valued at approximately $28,114,272. The disclosure for this sale can be found here. Insiders sold a total of 1,420,564 shares of company stock valued at $124,690,835 in the last quarter.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Private Advisor Group LLC boosted its holdings in shares of CAVA Group by 69.1% during the first quarter. Private Advisor Group LLC now owns 33,619 shares of the company’s stock worth $2,355,000 after acquiring an additional 13,739 shares during the period. CHURCHILL MANAGEMENT Corp bought a new stake in CAVA Group in the 1st quarter valued at $3,213,000. Swiss National Bank acquired a new position in CAVA Group in the 4th quarter valued at $1,926,000. Stephens Inc. AR bought a new position in CAVA Group during the 4th quarter worth $1,014,000. Finally, Cetera Investment Advisers acquired a new stake in shares of CAVA Group during the first quarter worth $2,455,000. Institutional investors and hedge funds 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.