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

CAVA Group (NYSE:CAVA) had its price objective raised by Jefferies Financial Group from $94.00 to $117.00 in a research note issued to investors on Friday, Benzinga reports. They currently have a buy rating on the stock.

A number of other equities analysts have also issued reports on the stock. Barclays upped their target price on shares of CAVA Group from $58.00 to $72.00 and gave the stock an equal weight rating in a research report on Thursday, May 30th. Robert W. Baird upped their price objective on CAVA Group from $105.00 to $125.00 and gave the stock an outperform rating in a report on Friday. Stifel Nicolaus lifted their target price on CAVA Group from $90.00 to $110.00 and gave the company a buy rating in a research note on Monday, August 19th. TD Cowen upped their price target on CAVA Group from $95.00 to $115.00 and gave the company a buy rating in a research note on Friday. Finally, Citigroup lifted their price objective on CAVA Group from $60.00 to $81.00 and gave the stock a neutral rating in a research report on Tuesday, May 21st. Six investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of Moderate Buy and an average price target of $97.17.

CAVA Group Price Performance

CAVA stock opened at $122.00 on Friday. The business has a fifty day moving average price of $89.86 and a 200 day moving average price of $76.18. CAVA Group has a fifty-two week low of $29.05 and a fifty-two week high of $125.87. The stock has a market capitalization of $13.91 billion, a price-to-earnings ratio of 297.56 and a beta of 3.27.

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

Insider Buying and Selling

In other CAVA Group news, insider Kenneth Robert Bertram sold 5,250 shares of the company’s stock in a transaction that occurred on Tuesday, June 18th. The shares were sold at an average price of $95.28, for a total value of $500,220.00. Following the completion of 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 legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CEO Brett Schulman sold 66,414 shares of CAVA Group stock in a transaction dated 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 owns 904,094 shares in the company, valued at approximately $81,467,910.34. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, 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 value of $500,220.00. Following the sale, the insider now directly owns 67,005 shares of the company’s stock, valued at $6,384,236.40. The disclosure for this sale can be found here. Insiders have sold 1,420,564 shares of company stock valued at $124,690,835 in the last 90 days.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in CAVA. Vanguard Group Inc. raised its holdings in shares of 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 acquiring an additional 3,377,840 shares during the period. Capital Research Global Investors lifted its holdings in shares of CAVA Group by 249.5% in the fourth quarter. Capital Research Global Investors now owns 4,369,281 shares of the company’s stock valued at $187,792,000 after purchasing an additional 3,119,281 shares in the last quarter. 1832 Asset Management L.P. boosted its position in shares of 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 during the period. Artemis Investment Management LLP bought a new position in shares of CAVA Group during the first quarter worth about $38,225,000. Finally, Lord Abbett & CO. LLC raised its position in 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 buying an additional 492,667 shares during the last quarter. Institutional investors and hedge funds 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.