Argus Increases CAVA Group (NYSE:CAVA) Price Target to $128.00

CAVA Group (NYSE:CAVA) had its price objective upped by Argus from $104.00 to $128.00 in a report issued on Wednesday, Benzinga reports. They currently have a buy rating on the stock.

Several other brokerages also recently commented on CAVA. Stifel Nicolaus upped their price objective on shares of CAVA Group from $90.00 to $110.00 and gave the company a buy rating in a research note on Monday, August 19th. JPMorgan Chase & Co. upped their price objective on shares of CAVA Group from $77.00 to $90.00 and gave the company a neutral rating in a research note on Monday, August 26th. TD Cowen upped their price objective on shares of CAVA Group from $95.00 to $115.00 and gave the company a buy rating in a research note on Friday, August 23rd. Jefferies Financial Group upped their price objective on shares of CAVA Group from $94.00 to $117.00 and gave the company a buy rating in a research note on Friday, August 23rd. Finally, Barclays upped their price objective on shares of CAVA Group from $72.00 to $95.00 and gave the company an equal weight rating in a research note on Friday, August 23rd. Seven investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and a consensus price target of $111.58.

CAVA Group Stock Down 2.4 %

CAVA Group stock opened at $122.51 on Wednesday. The company has a market capitalization of $14.01 billion, a PE ratio of 298.81 and a beta of 3.34. The firm has a fifty day simple moving average of $97.16 and a two-hundred day simple moving average of $82.84. CAVA Group has a twelve month low of $29.05 and a twelve month high of $128.18.

CAVA Group (NYSE:CAVA) last posted its quarterly earnings results on Thursday, August 22nd. The company reported $0.17 earnings per share for the quarter, topping the consensus estimate of $0.13 by $0.04. The business had revenue of $233.50 million during the quarter, compared to the consensus estimate of $219.47 million. CAVA Group had a net margin of 5.04% and a return on equity of 7.37%. The firm’s revenue for the quarter was up 35.1% on a year-over-year basis. During the same period in the previous year, the firm posted $0.21 earnings per share. As a group, equities analysts expect that CAVA Group will post 0.43 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other CAVA Group news, CFO Tricia K. Tolivar sold 5,000 shares of the company’s stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $125.64, for a total value of $628,200.00. Following the sale, the chief financial officer now owns 292,600 shares in the company, valued at $36,762,264. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other CAVA Group news, CFO Tricia K. Tolivar sold 5,000 shares of the company’s stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $125.64, for a total value of $628,200.00. Following the sale, the chief financial officer now owns 292,600 shares in the company, valued at $36,762,264. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Kenneth Robert Bertram sold 5,250 shares of the company’s stock in a transaction dated Tuesday, June 18th. The stock was sold at an average price of $95.28, for a total transaction of $500,220.00. Following the completion of the sale, the insider now owns 67,005 shares in the company, valued at approximately $6,384,236.40. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 427,165 shares of company stock worth $49,526,186.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Sanctuary Advisors LLC bought a new position in shares of CAVA Group in the second quarter worth approximately $1,539,000. Cetera Investment Advisers lifted its stake in shares of CAVA Group by 12.3% in the second quarter. Cetera Investment Advisers now owns 39,344 shares of the company’s stock worth $3,649,000 after buying an additional 4,295 shares in the last quarter. B. Riley Wealth Advisors Inc. bought a new position in shares of CAVA Group in the second quarter worth approximately $368,000. Northwestern Mutual Wealth Management Co. lifted its stake in shares of CAVA Group by 98.0% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 875 shares of the company’s stock worth $81,000 after buying an additional 433 shares in the last quarter. Finally, Creative Planning lifted its stake in shares of CAVA Group by 24.7% in the second quarter. Creative Planning now owns 5,046 shares of the company’s stock worth $468,000 after buying an additional 1,000 shares in the last quarter. Institutional investors 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.