CAVA Group (NYSE:CAVA) Trading 1% Higher

CAVA Group, Inc. (NYSE:CAVA) shares shot up 1% on Tuesday . The stock traded as high as $125.46 and last traded at $124.13. 683,205 shares were traded during mid-day trading, a decline of 76% from the average session volume of 2,803,778 shares. The stock had previously closed at $122.85.

Analyst Upgrades and Downgrades

Several research firms have weighed in on CAVA. Jefferies Financial Group raised their price target on CAVA Group from $94.00 to $117.00 and gave the company a “buy” rating in a report on Friday, August 23rd. Piper Sandler cut CAVA Group from an “overweight” rating to a “neutral” rating and raised their target price for the stock from $63.00 to $92.00 in a research note on Thursday, May 30th. Wedbush upped their price objective on shares of CAVA Group from $100.00 to $120.00 and gave the stock an “outperform” rating in a report on Friday, August 23rd. Morgan Stanley lowered CAVA Group from an “overweight” rating to an “equal weight” rating and lifted their price target for the company from $90.00 to $110.00 in a research report on Thursday, August 29th. Finally, 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. Seven equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, CAVA Group presently has an average rating of “Moderate Buy” and a consensus price target of $111.58.

CAVA Group Trading Up 0.7 %

The stock has a market capitalization of $14.27 billion, a price-to-earnings ratio of 307.27 and a beta of 3.34. The stock has a 50-day moving average price of $99.15 and a 200 day moving average price of $84.21.

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

Insider Transactions at CAVA Group

In other CAVA Group news, Director Theodoros Xenohristos sold 90,000 shares of the stock in a transaction that occurred on Monday, June 24th. The stock was sold at an average price of $91.01, for a total transaction of $8,190,900.00. Following the completion of the sale, the director now directly owns 424,846 shares of the company’s stock, valued at approximately $38,665,234.46. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other CAVA Group news, Director Theodoros Xenohristos sold 90,000 shares of the company’s stock in a transaction dated Monday, June 24th. The shares were sold at an average price of $91.01, for a total transaction of $8,190,900.00. Following the transaction, the director now directly owns 424,846 shares in the company, valued at $38,665,234.46. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Tricia K. Tolivar sold 5,000 shares of CAVA Group stock in a transaction on Monday, August 26th. The stock was sold at an average price of $125.64, for a total value of $628,200.00. Following the transaction, the chief financial officer now directly owns 292,600 shares of the company’s stock, valued at $36,762,264. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 400,943 shares of company stock valued at $47,062,986.

Institutional Trading of CAVA Group

Institutional investors and hedge funds have recently made changes to their positions in the company. Dimensional Fund Advisors LP increased its stake in CAVA Group by 0.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 39,154 shares of the company’s stock worth $3,632,000 after buying an additional 184 shares during the period. CWM LLC increased its position in shares of CAVA Group by 101.2% during the first quarter. CWM LLC now owns 505 shares of the company’s stock worth $35,000 after acquiring an additional 254 shares during the last quarter. Jaffetilchin Investment Partners LLC lifted its stake in shares of CAVA Group by 4.2% in the second quarter. Jaffetilchin Investment Partners LLC now owns 6,907 shares of the company’s stock worth $641,000 after acquiring an additional 278 shares in the last quarter. Jamison Private Wealth Management Inc. purchased a new position in CAVA Group in the second quarter valued at about $28,000. Finally, Nemes Rush Group LLC purchased a new stake in CAVA Group during the 2nd quarter worth approximately $28,000. 73.15% of the stock is currently owned by institutional investors and hedge funds.

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.