TD Cowen Reaffirms Buy Rating for CAVA Group (NYSE:CAVA)

TD Cowen reissued their buy rating on shares of CAVA Group (NYSE:CAVA) in a research note published on Thursday, Benzinga reports. They currently have a $115.00 price objective on the stock.

Other research analysts have also issued reports about the stock. Loop Capital raised their target price on shares of CAVA Group from $80.00 to $122.00 and gave the company a hold rating in a research note on Monday, August 26th. Wedbush lifted 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. Argus increased their target price on CAVA Group from $104.00 to $128.00 and gave the company a buy rating in a research note on Wednesday, September 11th. Robert W. Baird lifted their price target on CAVA Group from $105.00 to $125.00 and gave the stock an outperform rating in a research report on Friday, August 23rd. Finally, Citigroup raised their price objective on shares of CAVA Group from $93.00 to $115.00 and gave the stock a neutral rating in a research note on Friday, August 23rd. Seven analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of Moderate Buy and an average price target of $111.58.

CAVA Group Price Performance

NYSE CAVA opened at $122.51 on Thursday. CAVA Group has a fifty-two week low of $29.05 and a fifty-two week high of $128.18. The stock’s 50-day moving average is $97.16 and its two-hundred day moving average is $83.02. The firm has a market cap of $13.97 billion, a P/E ratio of 298.80 and a beta of 3.34.

CAVA Group (NYSE:CAVA) last issued its quarterly earnings data 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. CAVA Group had a return on equity of 7.37% and a net margin of 5.04%. The business had revenue of $233.50 million for the quarter, compared to the consensus estimate of $219.47 million. During the same period last year, the business earned $0.21 EPS. The firm’s revenue was up 35.1% compared to the same quarter last year. On average, equities analysts expect that CAVA Group will post 0.43 EPS for the current year.

Insider Activity at CAVA Group

In other CAVA Group news, Director Theodoros Xenohristos sold 98,490 shares of the firm’s stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $125.77, for a total transaction of $12,387,087.30. Following the completion of the transaction, the director now owns 424,846 shares in the company, valued at $53,432,881.42. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, insider Kenneth Robert Bertram sold 5,250 shares of the company’s stock in a transaction dated Tuesday, June 18th. The shares were sold at an average price of $95.28, for a total value of $500,220.00. Following the sale, the insider now owns 67,005 shares of the company’s stock, valued at approximately $6,384,236.40. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Theodoros Xenohristos sold 98,490 shares of CAVA Group stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $125.77, for a total transaction of $12,387,087.30. Following the transaction, the director now directly owns 424,846 shares of the company’s stock, valued at $53,432,881.42. The disclosure for this sale can be found here. Insiders have sold a total of 406,193 shares of company stock valued at $47,563,206 over the last quarter.

Institutional Trading of CAVA Group

Several hedge funds have recently modified their holdings of CAVA. Vanguard Group Inc. grew its position in CAVA Group by 215.7% during the 1st 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 last quarter. Capital Research Global Investors boosted its stake in CAVA Group by 249.5% in the fourth quarter. Capital Research Global Investors now owns 4,369,281 shares of the company’s stock worth $187,792,000 after purchasing an additional 3,119,281 shares in the last quarter. 1832 Asset Management L.P. grew its holdings 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 purchasing an additional 995,800 shares during the last quarter. Artemis Investment Management LLP acquired a new stake in shares of CAVA Group in the first quarter valued at $38,225,000. Finally, Lord Abbett & CO. LLC raised its holdings in shares of CAVA Group by 55.9% in the first 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.

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.