CAVA Group (NYSE:CAVA) PT Raised to $115.00 at TD Cowen

CAVA Group (NYSE:CAVA) had its target price boosted by equities research analysts at TD Cowen from $95.00 to $115.00 in a research note issued to investors on Friday, Benzinga reports. The firm presently has a “buy” rating on the stock. TD Cowen’s price target would indicate a potential downside of 5.74% from the stock’s current price.

Several other analysts have also issued reports on the company. Stifel Nicolaus upped their target price on CAVA Group from $90.00 to $110.00 and gave the stock a “buy” rating in a report on Monday, August 19th. Piper Sandler lowered CAVA Group from an “overweight” rating to a “neutral” rating and upped their price objective for the company from $63.00 to $92.00 in a research note on Thursday, May 30th. Robert W. Baird upped their price objective on CAVA Group from $105.00 to $125.00 and gave the company an “outperform” rating in a research note on Friday. Morgan Stanley upped their price objective on CAVA Group from $85.00 to $90.00 and gave the company an “overweight” rating in a research note on Tuesday, July 16th. Finally, Citigroup upped their price objective on CAVA Group from $60.00 to $81.00 and gave the company a “neutral” rating in a research note on Tuesday, May 21st. Six analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $97.17.

CAVA Group Stock Performance

CAVA opened at $122.00 on Friday. CAVA Group has a 52-week low of $29.05 and a 52-week high of $125.87. The firm has a market capitalization of $13.91 billion, a PE ratio of 297.56 and a beta of 3.27. The business’s 50-day simple moving average is $89.86 and its 200 day simple moving average is $76.01.

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

Insider Activity

In other news, insider Kenneth Robert Bertram sold 5,250 shares of the company’s stock in a transaction that occurred on Tuesday, June 18th. The stock was sold at an average price of $95.28, for a total value of $500,220.00. Following the transaction, the insider now owns 67,005 shares of the company’s stock, valued at $6,384,236.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, insider Kenneth Robert Bertram sold 5,250 shares of the stock in a transaction that occurred on Tuesday, June 18th. The stock was sold at an average price of $95.28, for a total transaction of $500,220.00. Following the sale, the insider now owns 67,005 shares of the company’s stock, valued at $6,384,236.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Ronald M. Shaich sold 1,231,979 shares of the stock in a transaction that occurred on Wednesday, June 5th. The stock was sold at an average price of $87.25, for a total value of $107,490,167.75. Following the sale, the director now directly owns 5,000 shares in the company, valued at approximately $436,250. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,420,564 shares of company stock valued at $124,690,835.

Institutional Investors Weigh In On CAVA Group

A number of large investors have recently added to or reduced their stakes in the stock. Capital Research Global Investors grew its position 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 buying an additional 942,054 shares in the last quarter. Vanguard Group Inc. grew 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 worth $346,330,000 after buying an additional 3,377,840 shares in the last quarter. 1832 Asset Management L.P. grew its position in CAVA Group by 79.5% during the fourth quarter. 1832 Asset Management L.P. now owns 2,248,400 shares of the company’s stock worth $96,636,000 after buying an additional 995,800 shares in the last quarter. Lord Abbett & CO. LLC boosted its holdings in shares of CAVA Group by 55.9% in the 1st quarter. Lord Abbett & CO. LLC now owns 1,373,749 shares of the company’s stock valued at $96,231,000 after purchasing an additional 492,667 shares in the last quarter. Finally, Federated Hermes Inc. boosted its holdings in shares of CAVA Group by 9.7% in the 2nd quarter. Federated Hermes Inc. now owns 1,060,029 shares of the company’s stock valued at $98,318,000 after purchasing an additional 93,635 shares in the last quarter. 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.