CAVA Group (NYSE:CAVA) Trading 5% Higher – What’s Next?

CAVA Group, Inc. (NYSE:CAVA) shares traded up 5% on Wednesday . The stock traded as high as $132.82 and last traded at $132.28. 822,992 shares were traded during mid-day trading, a decline of 57% from the average session volume of 1,922,434 shares. The stock had previously closed at $125.96.

Analysts Set New Price Targets

Several equities analysts recently issued reports on CAVA shares. William Blair restated an “outperform” rating on shares of CAVA Group in a research note on Wednesday, November 13th. Stifel Nicolaus boosted their price objective on CAVA Group from $118.00 to $175.00 and gave the company a “buy” rating in a research report on Wednesday, November 13th. Citigroup raised their target price on CAVA Group from $140.00 to $163.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 13th. Morgan Stanley boosted their price target on shares of CAVA Group from $123.00 to $135.00 and gave the company an “equal weight” rating in a report on Thursday, November 14th. Finally, Loop Capital increased their price objective on shares of CAVA Group from $122.00 to $147.00 and gave the company a “hold” rating in a research note on Thursday, November 14th. Eight equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, CAVA Group presently has a consensus rating of “Moderate Buy” and a consensus target price of $142.13.

CAVA Group Stock Up 2.6 %

The firm has a market cap of $15.91 billion, a P/E ratio of 301.94 and a beta of 3.21. The business has a fifty day moving average of $125.26 and a 200 day moving average of $119.58.

CAVA Group (NYSE:CAVA) last issued its earnings results on Tuesday, November 12th. The company reported $0.15 EPS for the quarter, beating the consensus estimate of $0.11 by $0.04. CAVA Group had a net margin of 5.88% and a return on equity of 9.10%. The firm had revenue of $243.82 million during the quarter, compared to the consensus estimate of $233.05 million. During the same quarter in the prior year, the firm earned $0.06 earnings per share. The business’s quarterly revenue was up 38.9% on a year-over-year basis. On average, sell-side analysts expect that CAVA Group, Inc. will post 0.5 EPS for the current fiscal year.

Insider Activity

In other CAVA Group news, insider Kenneth Robert Bertram sold 678 shares of the business’s stock in a transaction that occurred on Monday, January 27th. The stock was sold at an average price of $124.39, for a total value of $84,336.42. Following the sale, the insider now owns 57,312 shares in the company, valued at approximately $7,129,039.68. The trade was a 1.17 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO Adam David Phillips sold 615 shares of CAVA Group stock in a transaction that occurred on Monday, January 27th. The shares were 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 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. Insiders sold 681,784 shares of company stock worth $100,756,372 over the last quarter. 12.10% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On CAVA Group

Several hedge funds and other institutional investors have recently made changes to their positions in CAVA. Allworth Financial LP increased its position in CAVA Group by 369.2% during the fourth quarter. Allworth Financial LP now owns 244 shares of the company’s stock worth $30,000 after buying an additional 192 shares during the last quarter. GAMMA Investing LLC boosted 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 worth $38,000 after acquiring an additional 125 shares during the period. Golden State Wealth Management LLC acquired a new position in shares of CAVA Group during the 4th quarter worth approximately $47,000. R Squared Ltd bought a new stake in CAVA Group in the 4th quarter valued at $49,000. Finally, Principal Securities Inc. lifted its holdings in CAVA Group by 263.3% during the 4th quarter. Principal Securities Inc. now owns 436 shares of the company’s stock valued at $49,000 after purchasing an additional 316 shares during the last quarter. 73.15% of the stock is owned by 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.