CAVA Group (NYSE:CAVA) Trading 1.7% Higher

Shares of CAVA Group, Inc. (NYSE:CAVA) shot up 1.7% during mid-day trading on Wednesday . The stock traded as high as $124.73 and last traded at $124.50. 295,282 shares traded hands during trading, a decline of 89% from the average session volume of 2,798,419 shares. The stock had previously closed at $122.47.

Analysts Set New Price Targets

Several analysts have recently weighed in on CAVA shares. Morgan Stanley lowered shares of CAVA Group from an “overweight” rating to an “equal weight” rating and raised their price objective for the stock from $90.00 to $110.00 in a report on Thursday, August 29th. Wedbush lifted their price target on CAVA Group from $100.00 to $120.00 and gave the company an “outperform” rating in a report on Friday, August 23rd. Barclays raised their price objective on shares of CAVA Group from $72.00 to $95.00 and gave the company an “equal weight” rating in a research report on Friday, August 23rd. Citigroup raised their price target on shares of CAVA Group from $93.00 to $115.00 and gave the company a “neutral” rating in a report on Friday, August 23rd. Finally, Stifel Nicolaus boosted their target price on CAVA Group from $90.00 to $110.00 and gave the stock a “buy” rating in a research report on Monday, August 19th. Seven analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $111.58.

CAVA Group Price Performance

The stock has a 50-day moving average price of $98.36 and a 200 day moving average price of $83.93. The company has a market cap of $14.06 billion, a price-to-earnings ratio of 303.66 and a beta of 3.34.

CAVA Group (NYSE:CAVA) last released its quarterly earnings results on Thursday, August 22nd. The company reported $0.17 earnings per share for the quarter, beating the consensus estimate of $0.13 by $0.04. CAVA Group had a net margin of 5.04% and a return on equity of 7.37%. The company had revenue of $233.50 million during the quarter, compared to analysts’ expectations of $219.47 million. During the same quarter in the prior year, the company earned $0.21 earnings per share. The business’s quarterly revenue was up 35.1% compared to the same quarter last year. Sell-side analysts expect that CAVA Group, Inc. will post 0.43 EPS for the current fiscal year.

Insiders Place Their Bets

In other CAVA Group news, Director Theodoros Xenohristos sold 98,490 shares of the business’s stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $125.77, for a total value of $12,387,087.30. Following the sale, the director now owns 424,846 shares in the company, valued at approximately $53,432,881.42. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CEO Brett Schulman sold 201,504 shares of the company’s stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $125.53, for a total transaction of $25,294,797.12. Following the sale, the chief executive officer now owns 702,590 shares in the company, valued at approximately $88,196,122.70. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Theodoros Xenohristos sold 98,490 shares of the stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $125.77, for a total value of $12,387,087.30. Following the completion of the sale, the director now directly owns 424,846 shares of the company’s stock, valued at approximately $53,432,881.42. The disclosure for this sale can be found here. In the last 90 days, insiders sold 400,943 shares of company stock worth $47,062,986.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. Capital Research Global Investors increased its stake in shares of 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 purchasing an additional 942,054 shares during the period. Vanguard Group Inc. increased 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 buying an additional 3,377,840 shares during the period. 1832 Asset Management L.P. lifted 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 buying an additional 995,800 shares in the last quarter. Lord Abbett & CO. LLC boosted its position 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 acquiring an additional 492,667 shares during the period. Finally, Federated Hermes Inc. raised its stake in CAVA Group by 9.7% in the 2nd quarter. Federated Hermes Inc. now owns 1,060,029 shares of the company’s stock worth $98,318,000 after purchasing an additional 93,635 shares in the last quarter. 73.15% of the stock is owned by institutional investors.

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.