CAVA Group (NYSE:CAVA) Stock Price Expected to Rise, Citigroup Analyst Says

CAVA Group (NYSE:CAVA) had its price objective raised by analysts at Citigroup from $140.00 to $163.00 in a note issued to investors on Wednesday,Benzinga reports. The brokerage currently has a “neutral” rating on the stock. Citigroup’s price target would indicate a potential upside of 17.87% from the stock’s current price.

Other equities analysts have also issued reports about the company. Jefferies Financial Group upped their target price on CAVA Group from $94.00 to $117.00 and gave the stock a “buy” rating in a research note on Friday, August 23rd. TD Cowen upped their price objective on shares of CAVA Group from $130.00 to $150.00 and gave the stock a “buy” rating in a research report on Wednesday. JPMorgan Chase & Co. lifted their target price on shares of CAVA Group from $90.00 to $110.00 and gave the company a “neutral” rating in a research report on Wednesday. William Blair reiterated an “outperform” rating on shares of CAVA Group in a research report on Wednesday. Finally, Robert W. Baird increased their target price on CAVA Group from $125.00 to $148.00 and gave the company an “outperform” rating in a report on Monday, November 4th. Eight equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $140.14.

CAVA Group Stock Performance

Shares of NYSE CAVA opened at $138.29 on Wednesday. The stock has a fifty day moving average of $130.75 and a 200-day moving average of $103.50. The stock has a market cap of $15.81 billion, a PE ratio of 298.04 and a beta of 3.23. CAVA Group has a fifty-two week low of $31.47 and a fifty-two week high of $172.43.

CAVA Group (NYSE:CAVA) last announced its quarterly earnings results on Tuesday, November 12th. The company reported $0.15 earnings per share for the quarter, beating the consensus estimate 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 for the quarter, compared to analysts’ expectations of $233.05 million. During the same period in the prior year, the business posted $0.06 earnings per share. The company’s revenue was up 38.9% on a year-over-year basis. On average, sell-side analysts predict that CAVA Group will post 0.44 EPS for the current year.

Insider Buying and Selling at CAVA Group

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 transaction of $12,387,087.30. Following the transaction, the director now owns 424,846 shares in the company, valued at approximately $53,432,881.42. This represents a 18.82 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Brett Schulman sold 201,504 shares of CAVA Group stock in a transaction that occurred on 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 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 22.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 304,994 shares of company stock worth $38,310,084. 12.10% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On CAVA Group

A number of hedge funds have recently added to or reduced their stakes in CAVA. Nwam LLC grew its holdings in shares of CAVA Group by 2.6% in the third quarter. Nwam LLC now owns 3,368 shares of the company’s stock worth $417,000 after acquiring an additional 85 shares during the period. CIBC Asset Management Inc increased its position in shares of CAVA Group by 3.5% during the 3rd quarter. CIBC Asset Management Inc now owns 3,287 shares of the company’s stock valued at $407,000 after purchasing an additional 110 shares during the last quarter. Farther Finance Advisors LLC increased its position in shares of CAVA Group by 6.3% during the 3rd quarter. Farther Finance Advisors LLC now owns 1,916 shares of the company’s stock valued at $237,000 after purchasing an additional 113 shares during the last quarter. GAMMA Investing LLC boosted its holdings in shares of CAVA Group by 68.3% in the third quarter. GAMMA Investing LLC now owns 308 shares of the company’s stock worth $38,000 after buying an additional 125 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its position in CAVA Group by 0.5% during the second quarter. Dimensional Fund Advisors LP now owns 39,154 shares of the company’s stock valued at $3,632,000 after buying an additional 184 shares during the period. 73.15% of the stock is currently owned by hedge funds and other institutional investors.

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.