CAVA Group (NYSE:CAVA) Upgraded at JPMorgan Chase & Co.

JPMorgan Chase & Co. upgraded shares of CAVA Group (NYSE:CAVA) from a neutral rating to an overweight rating in a report released on Thursday, Marketbeat.com reports. The firm currently has $110.00 target price on the stock.

A number of other equities research analysts have also issued reports on CAVA. UBS Group cut their price target on CAVA Group from $160.00 to $125.00 and set a “neutral” rating for the company in a research note on Tuesday, January 7th. William Blair reissued an “outperform” rating on shares of CAVA Group in a report on Wednesday, February 26th. TD Securities dropped their price objective on shares of CAVA Group from $150.00 to $130.00 and set a “buy” rating for the company in a report on Wednesday, February 26th. Barclays dropped their price objective on shares of CAVA Group from $127.00 to $104.00 and set an “equal weight” rating for the company in a report on Wednesday, February 26th. Finally, Sanford C. Bernstein assumed coverage on shares of CAVA Group in a report on Wednesday, November 20th. They set a “market perform” rating and a $145.00 price objective for the company. Six equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $131.47.

CAVA Group Stock Performance

Shares of CAVA stock opened at $83.59 on Thursday. CAVA Group has a 52-week low of $58.22 and a 52-week high of $172.43. The firm has a market capitalization of $9.66 billion, a PE ratio of 181.71 and a beta of 3.58. The stock has a fifty day simple moving average of $110.68 and a two-hundred day simple moving average of $122.96.

CAVA Group (NYSE:CAVA) last issued its quarterly earnings results on Tuesday, February 25th. The company reported $0.05 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.01). CAVA Group had a return on equity of 9.10% and a net margin of 5.88%. The business had revenue of $227.40 million during the quarter, compared to analysts’ expectations of $223.34 million. On average, sell-side analysts forecast that CAVA Group will post 0.5 EPS for the current fiscal year.

Insider Activity at CAVA Group

In related news, insider Theodoros Xenohristos sold 851 shares of the stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $119.18, for a total value of $101,422.18. Following the sale, the insider now directly owns 358,995 shares of the company’s stock, valued at $42,785,024.10. This represents a 0.24 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO Adam David Phillips sold 615 shares of the stock in a transaction dated Monday, January 27th. The stock was sold at an average price of $124.39, for a total transaction of $76,499.85. Following the completion of the sale, the chief accounting officer now directly owns 10,884 shares in the company, valued at $1,353,860.76. This trade represents a 5.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 29,235 shares of company stock valued at $3,514,101. Insiders own 12.10% of the company’s stock.

Hedge Funds Weigh In On CAVA Group

Institutional investors have recently modified their holdings of the stock. Conway Capital Management Inc. purchased a new position in shares of CAVA Group during the third quarter worth approximately $5,524,000. Charles Schwab Investment Management Inc. increased its position in shares of CAVA Group by 2.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 527,868 shares of the company’s stock worth $59,544,000 after acquiring an additional 11,776 shares during the period. Entropy Technologies LP purchased a new position in shares of CAVA Group during the fourth quarter worth approximately $2,097,000. Empowered Funds LLC purchased a new position in CAVA Group during the fourth quarter valued at approximately $5,007,000. Finally, Legacy Capital Wealth Partners LLC increased its holdings in CAVA Group by 71.9% during the fourth quarter. Legacy Capital Wealth Partners LLC now owns 13,658 shares of the company’s stock valued at $1,541,000 after buying an additional 5,712 shares during the period. 73.15% of the stock is owned by hedge funds and other institutional investors.

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.