CAVA Group (NYSE:CAVA) Price Target Raised to $140.00

CAVA Group (NYSE:CAVAGet Free Report) had its target price upped by equities researchers at Citigroup from $115.00 to $140.00 in a research note issued to investors on Tuesday, Benzinga reports. The firm currently has a “neutral” rating on the stock. Citigroup’s price target indicates a potential upside of 4.58% from the company’s previous close.

Other research analysts also recently issued research reports about the stock. Stifel Nicolaus upped their price target on shares of CAVA Group from $90.00 to $110.00 and gave the stock a “buy” rating in a research report on Monday, August 19th. Wedbush raised their target price on CAVA Group from $100.00 to $120.00 and gave the company an “outperform” rating in a research report on Friday, August 23rd. Barclays lifted their price target on CAVA Group from $95.00 to $113.00 and gave the stock an “equal weight” rating in a research note on Tuesday, October 22nd. TD Cowen increased their price objective on CAVA Group from $115.00 to $130.00 and gave the company a “buy” rating in a research note on Monday, September 23rd. Finally, Loop Capital lifted their target price on shares of CAVA Group from $80.00 to $122.00 and gave the stock a “hold” rating in a research note on Monday, August 26th. Eight equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $118.71.

View Our Latest Stock Analysis on CAVA

CAVA Group Price Performance

CAVA Group stock opened at $133.87 on Tuesday. The stock has a market capitalization of $15.30 billion, a PE ratio of 362.78 and a beta of 3.33. The business has a 50 day simple moving average of $125.20 and a 200-day simple moving average of $97.82. CAVA Group has a 12 month low of $29.66 and a 12 month high of $141.25.

CAVA Group (NYSE:CAVAGet Free Report) last issued its quarterly earnings results on Thursday, August 22nd. The company reported $0.17 EPS for the quarter, topping the consensus estimate of $0.13 by $0.04. The company had revenue of $233.50 million during the quarter, compared to analyst estimates of $219.47 million. CAVA Group had a net margin of 5.04% and a return on equity of 7.37%. The firm’s revenue was up 35.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.21 EPS. On average, equities research analysts anticipate that CAVA Group will post 0.43 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Brett Schulman sold 201,504 shares of the 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 completion of the sale, the chief executive officer now owns 702,590 shares of the company’s stock, valued at $88,196,122.70. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other CAVA Group news, Director Theodoros Xenohristos sold 98,490 shares of the company’s stock in a transaction dated 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 transaction, the director now owns 424,846 shares of the company’s stock, valued at $53,432,881.42. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Brett Schulman sold 201,504 shares of the stock in a transaction dated 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 transaction, the chief executive officer now directly owns 702,590 shares of the company’s stock, valued at approximately $88,196,122.70. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 304,994 shares of company stock valued at $38,310,084 over the last ninety days. Company insiders own 12.10% of the company’s stock.

Hedge Funds Weigh In On CAVA Group

Several large investors have recently made changes to their positions in CAVA. Capital Research Global Investors increased its holdings in CAVA Group by 21.6% in the 1st quarter. Capital Research Global Investors now owns 5,311,335 shares of the company’s stock valued at $372,059,000 after purchasing an additional 942,054 shares during the last quarter. Vanguard Group Inc. grew its stake in shares of CAVA Group by 215.7% in the first quarter. Vanguard Group Inc. now owns 4,944,036 shares of the company’s stock valued at $346,330,000 after buying an additional 3,377,840 shares in the last quarter. Lord Abbett & CO. LLC raised its holdings in shares of CAVA Group by 55.9% in the 1st 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 period. Federated Hermes Inc. lifted its stake in CAVA Group by 9.7% during the 2nd quarter. Federated Hermes Inc. now owns 1,060,029 shares of the company’s stock worth $98,318,000 after acquiring an additional 93,635 shares in the last quarter. Finally, Renaissance Technologies LLC boosted its holdings in CAVA Group by 102.5% during the 2nd quarter. Renaissance Technologies LLC now owns 892,400 shares of the company’s stock valued at $82,770,000 after acquiring an additional 451,800 shares during the period. 73.15% of the stock is currently owned by institutional investors and hedge funds.

About CAVA Group

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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.

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Analyst Recommendations for CAVA Group (NYSE:CAVA)

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