Stifel Nicolaus Forecasts Strong Price Appreciation for CAVA Group (NYSE:CAVA) Stock

CAVA Group (NYSE:CAVA) had its price target boosted by investment analysts at Stifel Nicolaus from $118.00 to $175.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Stifel Nicolaus’ price target indicates a potential upside of 26.55% from the stock’s previous close.

Other analysts also recently issued research reports about the company. Morgan Stanley downgraded CAVA Group from an “overweight” rating to an “equal weight” rating and boosted their price objective for the stock from $90.00 to $110.00 in a report on Thursday, August 29th. Citigroup upped their price target on shares of CAVA Group from $115.00 to $140.00 and gave the company a “neutral” rating in a research report on Tuesday, October 29th. TD Cowen boosted their target price on shares of CAVA Group from $130.00 to $150.00 and gave the company a “buy” rating in a research note on Wednesday. Jefferies Financial Group increased their target price on CAVA Group from $94.00 to $117.00 and gave the company a “buy” rating in a report on Friday, August 23rd. Finally, Barclays lifted their price target on CAVA Group from $113.00 to $142.00 and gave the company an “equal weight” rating in a report on Wednesday. Eight analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $140.14.

CAVA Group Price Performance

Shares of CAVA opened at $138.29 on Wednesday. CAVA Group has a 12-month low of $31.47 and a 12-month high of $172.43. The stock has a market capitalization of $15.81 billion, a P/E ratio of 300.63 and a beta of 3.23. The firm’s 50 day moving average is $130.75 and its 200-day moving average is $103.50.

CAVA Group (NYSE:CAVA) last announced its quarterly earnings data on Tuesday, November 12th. The company reported $0.15 EPS for the quarter, beating analysts’ consensus estimates of $0.11 by $0.04. The company had revenue of $243.82 million during the quarter, compared to the consensus estimate of $233.05 million. CAVA Group had a return on equity of 9.23% and a net margin of 5.88%. The company’s quarterly revenue was up 38.9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.06 EPS. As a group, equities research analysts forecast that CAVA Group will post 0.46 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Theodoros Xenohristos sold 98,490 shares of the company’s stock in a transaction on 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 completion of the sale, the director now directly owns 424,846 shares of the company’s stock, valued at approximately $53,432,881.42. This represents a 18.82 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Tricia K. Tolivar sold 5,000 shares of the business’s stock in a transaction on Monday, August 26th. The stock was sold at an average price of $125.64, for a total transaction of $628,200.00. Following the transaction, the chief financial officer now directly owns 292,600 shares of the company’s stock, valued at approximately $36,762,264. This represents a 1.68 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 304,994 shares of company stock worth $38,310,084. Corporate 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. Jamison Private Wealth Management Inc. bought a new position in CAVA Group in the 2nd quarter worth approximately $28,000. Nemes Rush Group LLC acquired a new stake in shares of CAVA Group in the second quarter worth $28,000. Mark Sheptoff Financial Planning LLC bought a new position in CAVA Group during the second quarter worth $36,000. Headlands Technologies LLC acquired a new position in CAVA Group during the 2nd quarter valued at $37,000. Finally, GAMMA Investing LLC grew its position in CAVA Group by 68.3% in the 3rd quarter. GAMMA Investing LLC now owns 308 shares of the company’s stock worth $38,000 after purchasing an additional 125 shares during the last quarter. Institutional investors and hedge funds own 73.15% of the company’s stock.

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.