CAVA Group (NYSE:CAVA) PT Raised to $122.00

CAVA Group (NYSE:CAVA) had its target price boosted by analysts at Loop Capital from $80.00 to $122.00 in a research note issued to investors on Monday, Benzinga reports. The brokerage currently has a “hold” rating on the stock. Loop Capital’s price target would indicate a potential upside of 3.30% from the stock’s previous close.

CAVA has been the topic of a number of other research reports. TD Cowen boosted their price target on shares of CAVA Group from $95.00 to $115.00 and gave the company a “buy” rating in a report on Friday, August 23rd. Morgan Stanley boosted their price objective on shares of CAVA Group from $85.00 to $90.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 16th. JPMorgan Chase & Co. lowered CAVA Group from an “overweight” rating to a “neutral” rating and set a $77.00 target price for the company. in a report on Monday, June 3rd. Piper Sandler downgraded CAVA Group from an “overweight” rating to a “neutral” rating and lifted their price target for the company from $63.00 to $92.00 in a report on Thursday, May 30th. Finally, Wedbush upped their price objective on CAVA Group from $100.00 to $120.00 and gave the stock an “outperform” rating in a research note on Friday, August 23rd. Six investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $105.08.

CAVA Group Stock Performance

Shares of NYSE CAVA opened at $118.10 on Monday. CAVA Group has a 52-week low of $29.05 and a 52-week high of $128.18. The firm has a market capitalization of $13.47 billion, a price-to-earnings ratio of 288.05 and a beta of 3.27. The stock has a 50 day moving average price of $90.95 and a 200 day moving average price of $77.16.

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

Insiders Place Their Bets

In other news, CFO Tricia K. Tolivar sold 5,949 shares of the business’s stock in a transaction on Monday, July 1st. The shares were sold at an average price of $94.47, for a total transaction of $562,002.03. Following the sale, the chief financial officer now directly owns 297,600 shares of the company’s stock, valued at $28,114,272. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, CFO Tricia K. Tolivar sold 5,949 shares of CAVA Group stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $94.47, for a total transaction of $562,002.03. Following the completion of the sale, the chief financial officer now owns 297,600 shares of the company’s stock, valued at $28,114,272. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Theodoros Xenohristos sold 90,000 shares of the company’s stock in a transaction that occurred on Monday, June 24th. The shares were sold at an average price of $91.01, for a total value of $8,190,900.00. Following the completion of the sale, the director now owns 424,846 shares in the company, valued at approximately $38,665,234.46. The disclosure for this sale can be found here. Over the last quarter, insiders sold 1,420,564 shares of company stock valued at $124,690,835.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the business. Zurcher Kantonalbank Zurich Cantonalbank purchased a new position in shares of CAVA Group during the 4th quarter valued at about $204,000. New York State Common Retirement Fund lifted its holdings in CAVA Group by 18.3% in the fourth quarter. New York State Common Retirement Fund now owns 54,877 shares of the company’s stock valued at $2,359,000 after acquiring an additional 8,500 shares during the period. Victory Capital Management Inc. purchased a new stake in CAVA Group in the 4th quarter worth approximately $13,095,000. Armstrong Fleming & Moore Inc acquired a new stake in shares of CAVA Group during the 4th quarter worth approximately $16,341,000. Finally, Great Valley Advisor Group Inc. acquired a new stake in shares of CAVA Group during the 4th quarter worth approximately $284,000. Hedge funds and other institutional investors own 73.15% of the company’s stock.

About CAVA Group

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.