CAVA Group (NYSE:CAVA) Price Target Raised to $135.00

CAVA Group (NYSE:CAVA) had its target price lifted by Morgan Stanley from $123.00 to $135.00 in a research note released on Thursday morning,Benzinga reports. They currently have an equal weight rating on the stock.

A number of other equities research analysts also recently issued reports on CAVA. TD Cowen increased their price target on shares of CAVA Group from $130.00 to $150.00 and gave the stock a “buy” rating in a report on Wednesday. Stifel Nicolaus increased their price target on shares of CAVA Group from $118.00 to $175.00 and gave the company a “buy” rating in a research report on Wednesday. TD Securities raised their target price on shares of CAVA Group from $115.00 to $130.00 and gave the stock a “buy” rating in a report on Tuesday, September 24th. Loop Capital lifted their price target on shares of CAVA Group from $80.00 to $122.00 and gave the company a “hold” rating in a report on Monday, August 26th. Finally, Wedbush lifted their price target on shares of CAVA Group from $155.00 to $190.00 and gave the company an “outperform” rating in a report on Wednesday. Eight equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, CAVA Group presently has a consensus rating of “Moderate Buy” and a consensus price target of $143.71.

CAVA Group Stock Up 1.3 %

CAVA traded up $1.79 during trading on Thursday, hitting $140.13. 2,572,624 shares of the company’s stock were exchanged, compared to its average volume of 2,757,214. CAVA Group has a fifty-two week low of $31.47 and a fifty-two week high of $172.43. The stock has a market cap of $16.02 billion, a P/E ratio of 303.80 and a beta of 3.23. The business’s 50 day moving average is $130.75 and its two-hundred day moving average is $103.50.

CAVA Group (NYSE:CAVA) last posted its quarterly earnings results on Tuesday, November 12th. The company reported $0.15 earnings per share for the quarter, beating the consensus estimate of $0.11 by $0.04. The company had revenue of $243.82 million during the quarter, compared to analyst estimates of $233.05 million. CAVA Group had a net margin of 5.88% and a return on equity of 9.23%. The firm’s revenue for the quarter was up 38.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.06 earnings per share. On average, sell-side analysts forecast that CAVA Group will post 0.46 earnings per share for the current year.

Insider Buying and Selling

In other CAVA Group 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 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 represents a 18.82 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Brett Schulman sold 201,504 shares of the company’s stock in a transaction on Monday, August 26th. The shares were 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 directly owns 702,590 shares in the company, valued at approximately $88,196,122.70. The trade was a 22.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 304,994 shares of company stock valued at $38,310,084 over the last 90 days. Corporate insiders own 12.10% of the company’s stock.

Institutional Investors Weigh In On CAVA Group

Several hedge funds have recently modified their holdings of CAVA. Capital Research Global Investors raised its holdings in CAVA Group by 21.6% in the 1st quarter. Capital Research Global Investors now owns 5,311,335 shares of the company’s stock valued at $372,059,000 after acquiring an additional 942,054 shares during the last quarter. Vanguard Group Inc. grew its stake in shares of CAVA Group by 215.7% in the 1st quarter. Vanguard Group Inc. now owns 4,944,036 shares of the company’s stock valued at $346,330,000 after buying an additional 3,377,840 shares during the period. FMR LLC grew its stake in shares of CAVA Group by 0.9% in the 3rd quarter. FMR LLC now owns 3,485,033 shares of the company’s stock valued at $431,621,000 after buying an additional 29,668 shares during the period. Federated Hermes Inc. boosted its position in shares of CAVA Group by 9.7% during the 2nd quarter. Federated Hermes Inc. now owns 1,060,029 shares of the company’s stock worth $98,318,000 after purchasing an additional 93,635 shares during the period. Finally, Renaissance Technologies LLC boosted its position in shares of CAVA Group by 102.5% during the 2nd quarter. Renaissance Technologies LLC now owns 892,400 shares of the company’s stock worth $82,770,000 after purchasing an additional 451,800 shares during the period. 73.15% of the stock is owned by hedge funds and other 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.