Barclays Increases CAVA Group (NYSE:CAVA) Price Target to $142.00

CAVA Group (NYSE:CAVA) had its target price raised by equities researchers at Barclays from $113.00 to $142.00 in a report released on Wednesday,Benzinga reports. The brokerage currently has an “equal weight” rating on the stock. Barclays‘s price objective points to a potential upside of 4.37% from the company’s current price.

Other equities research analysts have also recently issued reports about the company. JPMorgan Chase & Co. upped their price target on CAVA Group from $90.00 to $110.00 and gave the company a “neutral” rating in a research report on Wednesday. Stifel Nicolaus upped their price objective 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. William Blair restated an “outperform” rating on shares of CAVA Group in a research report on Wednesday. Morgan Stanley cut shares of CAVA Group from an “overweight” rating to an “equal weight” rating and upped their price objective for the stock from $90.00 to $110.00 in a research report on Thursday, August 29th. Finally, Loop Capital upped their price objective on shares of CAVA Group from $80.00 to $122.00 and gave the stock a “hold” rating in a research report 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’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $140.14.

CAVA Group Trading Down 1.6 %

Shares of NYSE:CAVA traded down $2.28 during midday trading on Wednesday, reaching $136.06. The company had a trading volume of 621,538 shares, compared to its average volume of 2,748,425. The company’s 50 day moving average price is $130.75 and its 200 day moving average price is $103.50. The stock has a market cap of $15.55 billion, a P/E ratio of 300.63 and a beta of 3.23. CAVA Group has a 52-week low of $31.47 and a 52-week high of $172.43.

CAVA Group (NYSE:CAVA) last announced its quarterly earnings data on Tuesday, November 12th. The company reported $0.15 earnings per share (EPS) for the quarter, beating 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 business had revenue of $243.82 million for the quarter, compared to analysts’ expectations of $233.05 million. During the same period in the previous year, the business posted $0.06 EPS. The firm’s quarterly revenue was up 38.9% compared to the same quarter last year. Research analysts forecast that CAVA Group will post 0.46 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 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 approximately $88,196,122.70. This represents a 22.29 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Theodoros Xenohristos sold 98,490 shares of the stock in a transaction that occurred on 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 sale, the director now directly owns 424,846 shares of the company’s stock, valued at approximately $53,432,881.42. This trade represents a 18.82 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 304,994 shares of company stock valued at $38,310,084 over the last quarter. 12.10% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On CAVA Group

Hedge funds and other institutional investors have recently made changes to their positions in the business. Jamison Private Wealth Management Inc. bought a new position in CAVA Group in the second quarter worth $28,000. Nemes Rush Group LLC purchased a new stake in shares of CAVA Group during the second quarter valued at $28,000. Mark Sheptoff Financial Planning LLC purchased a new stake in shares of CAVA Group during the second quarter valued at $36,000. Headlands Technologies LLC purchased a new position in CAVA Group in the second quarter worth about $37,000. Finally, GAMMA Investing LLC grew its stake in shares of CAVA Group by 68.3% during the 3rd quarter. GAMMA Investing LLC now owns 308 shares of the company’s stock valued at $38,000 after purchasing an additional 125 shares during the period. Institutional investors own 73.15% of the company’s stock.

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.