Loop Capital Boosts CAVA Group (NYSE:CAVA) Price Target to $147.00

CAVA Group (NYSE:CAVA) had its price objective hoisted by investment analysts at Loop Capital from $122.00 to $147.00 in a research note issued to investors on Thursday,Benzinga reports. The firm presently has a “hold” rating on the stock. Loop Capital’s price objective would indicate a potential upside of 4.09% from the stock’s current price.

A number of other equities analysts also recently weighed in on CAVA. Barclays boosted their target price on CAVA Group from $113.00 to $142.00 and gave the stock an “equal weight” rating in a research note on Wednesday. Jefferies Financial Group raised their price objective on shares of CAVA Group from $94.00 to $117.00 and gave the stock a “buy” rating in a report on Friday, August 23rd. Morgan Stanley upped their price target on CAVA Group from $123.00 to $135.00 and gave the company an “equal weight” rating in a research report on Thursday. JPMorgan Chase & Co. lifted their price objective on CAVA Group from $90.00 to $110.00 and gave the company a “neutral” rating in a research note on Wednesday. Finally, Argus lifted their target price on shares of CAVA Group from $104.00 to $128.00 and gave the company a “buy” rating in a research report on Wednesday, September 11th. Eight investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $143.71.

CAVA Group Trading Up 2.1 %

Shares of NYSE CAVA opened at $141.23 on Thursday. The firm’s 50-day moving average price is $131.69 and its 200-day moving average price is $104.24. The firm has a market capitalization of $16.15 billion, a P/E ratio of 307.02 and a beta of 3.23. CAVA Group has a 1-year low of $31.47 and a 1-year high of $172.43.

CAVA Group (NYSE:CAVA) last issued 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. The firm had revenue of $243.82 million during the quarter, compared to analysts’ expectations of $233.05 million. CAVA Group had a net margin of 5.88% and a return on equity of 9.23%. The business’s revenue was up 38.9% on a year-over-year basis. During the same period last year, the company earned $0.06 earnings per share. Equities research analysts forecast that CAVA Group will post 0.46 EPS for the current year.

Insiders Place Their Bets

In related news, CEO Brett Schulman sold 201,504 shares of the stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $125.53, for a total value of $25,294,797.12. Following the completion of the transaction, the chief executive officer now directly 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Theodoros Xenohristos sold 98,490 shares of CAVA Group 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 owns 424,846 shares in the company, valued at $53,432,881.42. This represents a 18.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 304,994 shares of company stock valued at $38,310,084 in the last quarter. Insiders own 12.10% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CAVA. SpiderRock Advisors LLC lifted its stake in shares of CAVA Group by 8.9% in the third quarter. SpiderRock Advisors LLC now owns 479,319 shares of the company’s stock worth $59,364,000 after buying an additional 39,319 shares in the last quarter. Xponance Inc. grew its holdings in shares of CAVA Group by 95.2% in the second quarter. Xponance Inc. now owns 9,846 shares of the company’s stock worth $913,000 after acquiring an additional 4,803 shares during the period. PFG Investments LLC increased its position in shares of CAVA Group by 36.8% during the 3rd quarter. PFG Investments LLC now owns 15,907 shares of the company’s stock valued at $1,970,000 after purchasing an additional 4,275 shares during the last quarter. Intech Investment Management LLC purchased a new stake in CAVA Group during the second quarter valued at approximately $1,728,000. Finally, Aigen Investment Management LP bought a new position in CAVA Group in the 3rd quarter worth $1,293,000. Institutional investors 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.