CAVA Group (NYSE:CAVA) Price Target Raised to $90.00

CAVA Group (NYSE:CAVA) had its price target raised by TD Cowen from $73.00 to $90.00 in a report published on Wednesday, Marketbeat reports. The firm currently has a buy rating on the stock.

A number of other research analysts have also issued reports on CAVA. JPMorgan Chase & Co. increased their target price on CAVA Group from $50.00 to $64.00 and gave the company an overweight rating in a research report on Tuesday, March 19th. Wedbush increased their target price on CAVA Group from $65.00 to $74.00 and gave the company an outperform rating in a research report on Tuesday, April 16th. William Blair reiterated an outperform rating on shares of CAVA Group in a research report on Tuesday, February 27th. Piper Sandler increased their target price on CAVA Group from $46.00 to $63.00 and gave the company an overweight rating in a research report on Wednesday, February 28th. Finally, Citigroup increased their target price on CAVA Group from $60.00 to $81.00 and gave the company a neutral rating in a research report on Tuesday, May 21st. Five equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, CAVA Group has an average rating of Moderate Buy and a consensus target price of $80.00.

CAVA Group Trading Down 0.7 %

Shares of NYSE:CAVA opened at $92.54 on Wednesday. CAVA Group has a twelve month low of $29.05 and a twelve month high of $96.93. The company’s 50 day moving average is $71.33 and its 200 day moving average is $55.34. The company has a market cap of $10.55 billion and a PE ratio of 225.71.

CAVA Group (NYSE:CAVA) last issued its quarterly earnings results on Tuesday, May 28th. The company reported $0.12 earnings per share for the quarter, topping the consensus estimate of $0.04 by $0.08. CAVA Group had a net margin of 3.75% and a return on equity of 5.21%. The company had revenue of $259.01 million for the quarter, compared to the consensus estimate of $246.02 million. The company’s revenue for the quarter was up 27.5% on a year-over-year basis. Equities research analysts predict that CAVA Group will post 0.28 earnings per share for the current fiscal year.

Insider Activity at CAVA Group

In other CAVA Group news, major shareholder Ronald M. Shaich sold 1,500,000 shares of the firm’s stock in a transaction on Monday, March 4th. The stock was sold at an average price of $57.20, for a total value of $85,800,000.00. Following the completion of the sale, the insider now directly owns 4,457,634 shares of the company’s stock, valued at approximately $254,976,664.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other CAVA Group news, major shareholder Ronald M. Shaich sold 1,500,000 shares of the firm’s stock in a transaction on Monday, March 4th. The stock was sold at an average price of $57.20, for a total value of $85,800,000.00. Following the completion of the sale, the insider now directly owns 4,457,634 shares of the company’s stock, valued at approximately $254,976,664.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director International S.C.A. Artal sold 2,000,000 shares of the firm’s stock in a transaction on Thursday, March 21st. The stock was sold at an average price of $66.25, for a total value of $132,500,000.00. Following the completion of the sale, the director now directly owns 26,507,990 shares of the company’s stock, valued at $1,756,154,337.50. The disclosure for this sale can be found here. In the last ninety days, insiders sold 3,547,239 shares of company stock valued at $221,525,951.

Institutional Trading of CAVA Group

Hedge funds and other institutional investors have recently modified their holdings of the stock. Cetera Advisors LLC acquired a new stake in shares of CAVA Group during the 1st quarter worth about $301,000. Cetera Investment Advisers acquired a new stake in shares of CAVA Group during the 1st quarter worth about $2,455,000. National Wealth Management Group LLC acquired a new stake in shares of CAVA Group during the 1st quarter worth about $258,000. Jaffetilchin Investment Partners LLC increased its position in shares of CAVA Group by 38.8% during the 1st quarter. Jaffetilchin Investment Partners LLC now owns 6,629 shares of the company’s stock worth $464,000 after purchasing an additional 1,854 shares during the last quarter. Finally, Comerica Bank increased its position in shares of CAVA Group by 14.9% during the 1st quarter. Comerica Bank now owns 12,105 shares of the company’s stock worth $848,000 after purchasing an additional 1,567 shares during the last quarter. 73.15% of the stock is 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.