CAVA Group (NYSE:CAVA) Price Target Raised to $142.00 at Piper Sandler

CAVA Group (NYSE:CAVA) had its target price hoisted by Piper Sandler from $100.00 to $142.00 in a research report issued on Friday,Benzinga reports. The brokerage presently has a “neutral” rating on the stock. Piper Sandler’s price target indicates a potential upside of 0.44% from the stock’s current price.

A number of other brokerages also recently issued reports on CAVA. Jefferies Financial Group lifted their price objective on shares of CAVA Group from $94.00 to $117.00 and gave the stock a “buy” rating in a research report on Friday, August 23rd. Morgan Stanley lifted their price target on shares of CAVA Group from $123.00 to $135.00 and gave the stock an “equal weight” rating in a report on Thursday. Wedbush increased their price objective on CAVA Group from $155.00 to $190.00 and gave the company an “outperform” rating in a report on Wednesday. William Blair restated an “outperform” rating on shares of CAVA Group in a research note on Wednesday. Finally, Barclays increased their price target on CAVA Group from $113.00 to $142.00 and gave the company an “equal weight” rating in a research note on Wednesday. Eight equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $143.71.

CAVA Group Stock Up 2.2 %

CAVA Group stock opened at $141.38 on Friday. CAVA Group has a twelve month low of $31.47 and a twelve month high of $172.43. The business has a fifty day moving average of $131.69 and a two-hundred day moving average of $104.46. The firm has a market cap of $16.16 billion, a P/E ratio of 307.35 and a beta of 3.23.

CAVA Group (NYSE:CAVA) last issued its quarterly earnings data on Tuesday, November 12th. The company reported $0.15 earnings per share for the quarter, topping analysts’ consensus estimates of $0.11 by $0.04. CAVA Group had a return on equity of 9.23% and a net margin of 5.88%. The firm had revenue of $243.82 million during the quarter, compared to analysts’ expectations of $233.05 million. During the same period in the prior year, the business posted $0.06 EPS. The firm’s quarterly revenue was up 38.9% on a year-over-year basis. Equities analysts expect that CAVA Group will post 0.46 earnings per share for the current year.

Insider Transactions at CAVA Group

In related news, Director Theodoros Xenohristos sold 98,490 shares of CAVA Group stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $125.77, for a total transaction of $12,387,087.30. Following the completion of the transaction, the director now directly owns 424,846 shares in the company, valued at approximately $53,432,881.42. This trade represents a 18.82 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, 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 value of $25,294,797.12. Following the completion of the sale, the chief executive officer now owns 702,590 shares in the company, valued at approximately $88,196,122.70. This represents a 22.29 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 304,994 shares of company stock worth $38,310,084 over the last 90 days. 12.10% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On CAVA Group

Several large investors have recently made changes to their positions in the company. Swiss National Bank grew its position in CAVA Group by 50.2% during the first quarter. Swiss National Bank now owns 67,300 shares of the company’s stock valued at $4,714,000 after buying an additional 22,500 shares during the period. Sei Investments Co. boosted its stake in shares of CAVA Group by 70.6% during the 1st quarter. Sei Investments Co. now owns 35,784 shares of the company’s stock worth $2,507,000 after acquiring an additional 14,811 shares in the last quarter. Russell Investments Group Ltd. acquired a new stake in shares of CAVA Group during the 1st quarter valued at about $6,532,000. Kingsview Wealth Management LLC purchased a new position in shares of CAVA Group in the 1st quarter valued at about $294,000. Finally, Vanguard Group Inc. raised its holdings in CAVA Group by 215.7% in the 1st quarter. Vanguard Group Inc. now owns 4,944,036 shares of the company’s stock worth $346,330,000 after purchasing an additional 3,377,840 shares during the period. 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.