CAVA Group (NYSE:CAVA) Stock Rating Upgraded by Piper Sandler

CAVA Group (NYSE:CAVA) was upgraded by stock analysts at Piper Sandler from a “neutral” rating to an “overweight” rating in a research report issued to clients and investors on Friday,Briefing.com Automated Import reports. The firm presently has a $115.00 target price on the stock, down from their previous target price of $142.00. Piper Sandler’s price objective points to a potential upside of 27.75% from the stock’s previous close.

Other research analysts have also issued reports about the stock. Loop Capital decreased their target price on shares of CAVA Group from $147.00 to $100.00 and set a “hold” rating on the stock in a research note on Thursday. Wedbush reissued an “outperform” rating and set a $150.00 price objective on shares of CAVA Group in a research note on Wednesday. Barclays cut their target price on CAVA Group from $127.00 to $104.00 and set an “equal weight” rating for the company in a research note on Wednesday. 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 research report on Thursday, November 14th. Finally, TD Cowen raised their price objective on shares of CAVA Group from $130.00 to $150.00 and gave the stock a “buy” rating in a research report on Wednesday, November 13th. Seven analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $131.47.

CAVA Group Stock Performance

Shares of CAVA opened at $90.02 on Friday. The stock has a 50 day moving average price of $121.75 and a 200 day moving average price of $125.78. CAVA Group has a one year low of $54.21 and a one year high of $172.43. The stock has a market capitalization of $10.31 billion, a price-to-earnings ratio of 195.69 and a beta of 3.25.

CAVA Group (NYSE:CAVA) last issued its earnings results on Tuesday, February 25th. The company reported $0.05 EPS for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.01). The business had revenue of $227.40 million during the quarter, compared to analyst estimates of $223.34 million. CAVA Group had a net margin of 5.88% and a return on equity of 9.10%. On average, analysts predict that CAVA Group will post 0.5 earnings per share for the current year.

Insider Activity at CAVA Group

In other CAVA Group news, Director Ronald M. Shaich sold 622,549 shares of the 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 sale, the director now owns 6,307 shares of the company’s stock, valued at $942,265.80. This trade represents a 99.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Brett Schulman sold 20,564 shares of CAVA Group stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $119.18, for a total value of $2,450,817.52. Following the completion of the transaction, the chief executive officer now owns 776,369 shares of the company’s stock, valued at $92,527,657.42. The trade was a 2.58 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 651,784 shares of company stock worth $96,522,922 in the last three months. 12.10% of the stock is owned by company insiders.

Institutional Trading of CAVA Group

Several hedge funds have recently added to or reduced their stakes in CAVA. Arcadia Investment Management Corp MI acquired a new stake in shares of CAVA Group in the 4th quarter valued at $25,000. Allworth Financial LP raised its stake in CAVA Group by 369.2% in the fourth quarter. Allworth Financial LP now owns 244 shares of the company’s stock valued at $30,000 after buying an additional 192 shares in the last quarter. Larson Financial Group LLC lifted its holdings in CAVA Group by 274.0% during the 4th quarter. Larson Financial Group LLC now owns 273 shares of the company’s stock worth $31,000 after buying an additional 200 shares during the last quarter. Whittier Trust Co. boosted its position in shares of CAVA Group by 80.9% during the 4th quarter. Whittier Trust Co. now owns 284 shares of the company’s stock worth $32,000 after acquiring an additional 127 shares in the last quarter. Finally, Signaturefd LLC increased its holdings in shares of CAVA Group by 884.4% in the 4th quarter. Signaturefd LLC now owns 315 shares of the company’s stock valued at $36,000 after acquiring an additional 283 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.