Citigroup Forecasts Strong Price Appreciation for CAVA Group (NYSE:CAVA) Stock

CAVA Group (NYSE:CAVA) had its price target upped by Citigroup from $140.00 to $163.00 in a report published on Wednesday,Benzinga reports. The brokerage currently has a neutral rating on the stock.

CAVA has been the subject of several other reports. JPMorgan Chase & Co. lifted their price objective on shares of CAVA Group from $90.00 to $110.00 and gave the stock a “neutral” rating in a research note on Wednesday. Stifel Nicolaus increased their price target on CAVA Group from $118.00 to $175.00 and gave the stock a “buy” rating in a report on Wednesday. TD Cowen boosted their price objective on CAVA Group from $130.00 to $150.00 and gave the company a “buy” rating in a report on Wednesday. Jefferies Financial Group increased their target price on CAVA Group from $94.00 to $117.00 and gave the stock a “buy” rating in a research note on Friday, August 23rd. Finally, Barclays boosted their target price on shares of CAVA Group from $113.00 to $142.00 and gave the company an “equal weight” rating in a research note on Wednesday. Eight analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $143.71.

CAVA Group Stock Up 2.1 %

Shares of NYSE:CAVA opened at $141.23 on Wednesday. The firm has a fifty day simple moving average of $131.69 and a two-hundred day simple moving average of $104.24. The stock 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 52 week low of $31.47 and a 52 week 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 for the quarter, topping the consensus estimate of $0.11 by $0.04. The company had revenue of $243.82 million for the quarter, compared to analysts’ expectations of $233.05 million. CAVA Group had a return on equity of 9.23% and a net margin of 5.88%. The firm’s revenue for the quarter was up 38.9% on a year-over-year basis. During the same period in the previous year, the firm posted $0.06 earnings per share. On average, analysts expect that CAVA Group will post 0.46 earnings per share for the current year.

Insider Buying and Selling

In other CAVA Group news, CEO Brett Schulman sold 201,504 shares of CAVA Group stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $125.53, for a total value of $25,294,797.12. Following the transaction, the chief executive officer now owns 702,590 shares in the company, valued at $88,196,122.70. The trade was a 22.29 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Theodoros Xenohristos sold 98,490 shares of the business’s stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $125.77, for a total transaction of $12,387,087.30. Following the completion of the transaction, the director now owns 424,846 shares of the company’s stock, 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 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

Institutional investors have recently bought and sold shares of the company. SpiderRock Advisors LLC lifted its holdings in shares of CAVA Group by 8.9% during the 3rd quarter. SpiderRock Advisors LLC now owns 479,319 shares of the company’s stock valued at $59,364,000 after purchasing an additional 39,319 shares during the last quarter. Xponance Inc. increased its position in CAVA Group by 95.2% during the 2nd quarter. Xponance Inc. now owns 9,846 shares of the company’s stock valued at $913,000 after buying an additional 4,803 shares in the last quarter. PFG Investments LLC raised its stake in CAVA Group by 36.8% in the third quarter. PFG Investments LLC now owns 15,907 shares of the company’s stock valued at $1,970,000 after buying an additional 4,275 shares during the last quarter. Intech Investment Management LLC acquired a new stake in CAVA Group in the second quarter worth about $1,728,000. Finally, Aigen Investment Management LP purchased a new stake in shares of CAVA Group during the third quarter worth about $1,293,000. 73.15% of the stock is currently owned by institutional investors and hedge funds.

CAVA Group Company Profile

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.