CAVA Group, Inc. (NYSE:CAVA) Receives $143.80 Average Price Target from Brokerages

CAVA Group, Inc. (NYSE:CAVA) has earned a consensus recommendation of “Moderate Buy” from the sixteen analysts that are covering the stock, MarketBeat Ratings reports. Eight equities research analysts have rated the stock with a hold recommendation and eight have assigned a buy recommendation to the company. The average 12 month price target among brokers that have covered the stock in the last year is $143.80.

Several equities analysts have recently weighed in on CAVA shares. Morgan Stanley lifted their price objective on CAVA Group from $123.00 to $135.00 and gave the company an “equal weight” rating in a research note on Thursday, November 14th. Argus boosted their price objective on shares of CAVA Group from $104.00 to $128.00 and gave the stock a “buy” rating in a research note on Wednesday, September 11th. Sanford C. Bernstein initiated coverage on shares of CAVA Group in a research note on Wednesday, November 20th. They issued a “market perform” rating and a $145.00 target price on the stock. Barclays upped their price target on shares of CAVA Group from $113.00 to $142.00 and gave the stock an “equal weight” rating in a research report on Wednesday, November 13th. Finally, William Blair reissued an “outperform” rating on shares of CAVA Group in a research report on Wednesday, November 13th.

CAVA Group Stock Performance

CAVA Group stock opened at $119.05 on Monday. The company has a market cap of $13.64 billion, a price-to-earnings ratio of 258.80 and a beta of 2.93. CAVA Group has a 1 year low of $39.05 and a 1 year high of $172.43. The firm has a 50 day moving average price of $136.66 and a 200 day moving average price of $114.43.

CAVA Group (NYSE:CAVA) last released its quarterly earnings data on Tuesday, November 12th. The company reported $0.15 EPS for the quarter, topping analysts’ consensus estimates of $0.11 by $0.04. CAVA Group had a return on equity of 9.10% and a net margin of 5.88%. The business had revenue of $243.82 million during the quarter, compared to the consensus estimate of $233.05 million. During the same period in the prior year, the firm posted $0.06 EPS. The business’s revenue for the quarter was up 38.9% on a year-over-year basis. Sell-side analysts predict that CAVA Group will post 0.5 EPS for the current year.

Insider Transactions at CAVA Group

In related news, Director Ronald M. Shaich sold 622,549 shares of the business’s stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $149.40, for a total value of $93,008,820.60. Following the completion of the sale, the director now directly owns 6,307 shares of the company’s stock, valued at $942,265.80. The trade was a 99.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Karen Kochevar sold 15,000 shares of the stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $142.23, for a total value of $2,133,450.00. Following the transaction, the director now directly owns 1,307 shares in the company, valued at approximately $185,894.61. This represents a 91.99 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 652,549 shares of company stock valued at $97,242,271. 12.10% of the stock is currently owned by corporate insiders.

Institutional Trading of CAVA Group

Institutional investors and hedge funds have recently modified their holdings of the business. Conway Capital Management Inc. acquired a new stake in CAVA Group during the third quarter worth about $5,524,000. SpiderRock Advisors LLC raised its holdings in shares of CAVA Group by 8.9% during the third quarter. SpiderRock Advisors LLC now owns 479,319 shares of the company’s stock valued at $59,364,000 after buying an additional 39,319 shares during the last quarter. Xponance Inc. boosted its position in shares of CAVA Group by 95.2% during the second quarter. Xponance Inc. now owns 9,846 shares of the company’s stock worth $913,000 after buying an additional 4,803 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in CAVA Group by 262.8% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 516,092 shares of the company’s stock worth $63,918,000 after buying an additional 373,835 shares in the last quarter. Finally, PFG Investments LLC increased its position in CAVA Group by 36.8% in the 3rd quarter. PFG Investments LLC now owns 15,907 shares of the company’s stock valued at $1,970,000 after acquiring an additional 4,275 shares during the period. 73.15% of the stock is owned by institutional investors and hedge funds.

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.