CAVA Group (NYSE:CAVA) Shares Up 1.9%

CAVA Group, Inc. (NYSE:CAVA) shares traded up 1.9% during trading on Friday . The company traded as high as $128.05 and last traded at $127.54. 756,977 shares traded hands during trading, a decline of 73% from the average session volume of 2,790,855 shares. The stock had previously closed at $125.22.

Analyst Ratings Changes

Several brokerages recently weighed in on CAVA. Robert W. Baird boosted their target price on shares of CAVA Group from $105.00 to $125.00 and gave the company an “outperform” rating in a research note on Friday, August 23rd. Jefferies Financial Group upped their target price on CAVA Group from $94.00 to $117.00 and gave the company a “buy” rating in a research note on Friday, August 23rd. Stifel Nicolaus raised their price target on CAVA Group from $90.00 to $110.00 and gave the stock a “buy” rating in a research note on Monday, August 19th. TD Cowen reaffirmed a “buy” rating and set a $115.00 price objective on shares of CAVA Group in a research note on Thursday, September 12th. Finally, Loop Capital raised their target price on shares of CAVA Group from $80.00 to $122.00 and gave the stock a “hold” rating in a research report on Monday, August 26th. Seven research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $111.58.

CAVA Group Stock Performance

The firm has a fifty day moving average of $99.94 and a 200-day moving average of $84.49. The stock has a market capitalization of $14.62 billion, a price-to-earnings ratio of 311.07 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 EPS for the quarter, topping analysts’ consensus estimates of $0.13 by $0.04. CAVA Group had a net margin of 5.04% and a return on equity of 7.37%. The firm had revenue of $233.50 million for the quarter, compared to analyst estimates of $219.47 million. During the same quarter in the previous year, the business posted $0.21 EPS. The firm’s revenue was up 35.1% compared to the same quarter last year. On average, analysts predict that CAVA Group, Inc. will post 0.43 EPS for the current year.

Insider Activity

In other CAVA Group news, Director Theodoros Xenohristos sold 90,000 shares of CAVA Group stock in a transaction 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 transaction, the director now owns 424,846 shares of the company’s stock, valued at $38,665,234.46. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, CFO Tricia K. Tolivar sold 5,949 shares of the stock in a transaction on Monday, July 1st. The stock was sold at an average price of $94.47, for a total value of $562,002.03. Following the completion of the transaction, 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 document filed with the SEC, which is available at the SEC website. Also, Director Theodoros Xenohristos sold 90,000 shares of the firm’s stock in a transaction 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 transaction, the director now directly owns 424,846 shares in the company, valued at $38,665,234.46. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 400,943 shares of company stock worth $47,062,986.

Hedge Funds Weigh In On CAVA Group

Several large investors have recently bought and sold shares of CAVA. Capital Research Global Investors lifted its position in shares of CAVA Group by 21.6% during the 1st quarter. Capital Research Global Investors now owns 5,311,335 shares of the company’s stock valued at $372,059,000 after acquiring an additional 942,054 shares during the last quarter. Vanguard Group Inc. boosted its position in CAVA Group by 215.7% during the first quarter. Vanguard Group Inc. now owns 4,944,036 shares of the company’s stock valued at $346,330,000 after purchasing an additional 3,377,840 shares during the last quarter. 1832 Asset Management L.P. grew its stake in shares of CAVA Group by 79.5% in the 4th quarter. 1832 Asset Management L.P. now owns 2,248,400 shares of the company’s stock valued at $96,636,000 after buying an additional 995,800 shares in the last quarter. Lord Abbett & CO. LLC grew its position in CAVA Group by 55.9% in the first quarter. Lord Abbett & CO. LLC now owns 1,373,749 shares of the company’s stock worth $96,231,000 after acquiring an additional 492,667 shares in the last quarter. Finally, Federated Hermes Inc. increased its position in CAVA Group by 9.7% during the second quarter. Federated Hermes Inc. now owns 1,060,029 shares of the company’s stock worth $98,318,000 after buying an additional 93,635 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.