TD Cowen Raises CAVA Group (NYSE:CAVA) Price Target to $130.00

CAVA Group (NYSE:CAVA) had its price target upped by investment analysts at TD Cowen from $115.00 to $130.00 in a note issued to investors on Monday, Benzinga reports. The firm currently has a “buy” rating on the stock. TD Cowen’s price objective would indicate a potential upside of 0.94% from the company’s previous close.

CAVA has been the subject of several other research reports. JPMorgan Chase & Co. upped their price objective on shares of CAVA Group from $77.00 to $90.00 and gave the company a “neutral” rating in a research note on Monday, August 26th. Piper Sandler cut shares of CAVA Group from an “overweight” rating to a “neutral” rating and upped their price objective for the company from $63.00 to $92.00 in a research note on Thursday, May 30th. Robert W. Baird upped their price objective 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. Argus boosted their target price on shares of CAVA Group from $104.00 to $128.00 and gave the company a “buy” rating in a report on Wednesday, September 11th. Finally, Stifel Nicolaus boosted their target price on shares of CAVA Group from $90.00 to $110.00 and gave the company a “buy” rating in a report on Monday, August 19th. Seven analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $112.83.

CAVA Group Stock Up 2.9 %

CAVA stock opened at $128.79 on Monday. CAVA Group has a 52 week low of $29.05 and a 52 week high of $129.50. The stock has a market capitalization of $14.69 billion, a P/E ratio of 314.12 and a beta of 3.34. The firm has a 50-day simple moving average of $100.83 and a 200-day simple moving average of $85.36.

CAVA Group (NYSE:CAVA) last announced its quarterly earnings data on Thursday, August 22nd. The company reported $0.17 earnings per share (EPS) 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 EPS. CAVA Group’s revenue was up 35.1% compared to the same quarter last year. On average, analysts expect that CAVA Group will post 0.43 earnings per share for the current year.

Insider Transactions at CAVA Group

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 shares were sold at an average price of $125.53, for a total value of $25,294,797.12. Following the transaction, the chief executive officer now directly 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 accessible through 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 shares were sold at an average price of $125.53, for a total value of $25,294,797.12. Following the transaction, the chief executive officer now directly 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 accessible through this hyperlink. Also, CFO Tricia K. Tolivar sold 5,949 shares of the company’s stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $94.47, for a total transaction of $562,002.03. Following the completion of the transaction, the chief financial officer now owns 297,600 shares in the company, valued at $28,114,272. The disclosure for this sale can be found here. In the last three months, insiders have sold 310,943 shares of company stock worth $38,872,086.

Institutional Investors Weigh In On CAVA Group

Hedge funds have recently added to or reduced their stakes in the business. Private Advisor Group LLC lifted its holdings in CAVA Group by 69.1% during the 1st quarter. Private Advisor Group LLC now owns 33,619 shares of the company’s stock worth $2,355,000 after buying an additional 13,739 shares in the last quarter. CHURCHILL MANAGEMENT Corp acquired a new stake in CAVA Group during the 1st quarter worth approximately $3,213,000. Stephens Inc. AR acquired a new stake in CAVA Group during the 4th quarter worth approximately $1,014,000. Cetera Investment Advisers acquired a new stake in CAVA Group during the 1st quarter worth approximately $2,455,000. Finally, California State Teachers Retirement System lifted its holdings in CAVA Group by 54.6% during the 1st quarter. California State Teachers Retirement System now owns 35,861 shares of the company’s stock worth $2,512,000 after buying an additional 12,660 shares in the last quarter. 73.15% of the stock is currently owned by institutional investors and hedge funds.

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.