CAVA Group (NYSE:CAVA) Now Covered by UBS Group

UBS Group started coverage on shares of CAVA Group (NYSE:CAVA) in a research report released on Friday morning, Marketbeat reports. The brokerage issued a neutral rating and a $135.00 target price on the stock.

A number of other research analysts have also commented on the company. Morgan Stanley lowered CAVA Group from an overweight rating to an equal weight rating and upped their price objective for the company from $90.00 to $110.00 in a report on Thursday, August 29th. Stifel Nicolaus upped their price target 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. Jefferies Financial Group raised their price target on shares of CAVA Group from $94.00 to $117.00 and gave the stock a buy rating in a research report on Friday, August 23rd. TD Securities boosted their price objective on shares of CAVA Group from $115.00 to $130.00 and gave the company a buy rating in a report on Tuesday, September 24th. Finally, Robert W. Baird increased their target price on shares of CAVA Group from $105.00 to $125.00 and gave the stock an outperform rating in a research report on Friday, August 23rd. Eight analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of Moderate Buy and an average price target of $115.64.

CAVA Group Stock Performance

NYSE CAVA opened at $123.80 on Friday. The stock has a market cap of $14.12 billion, a PE ratio of 300.88 and a beta of 3.34. The firm has a 50-day moving average of $105.19 and a 200-day moving average of $87.57. CAVA Group has a 52-week low of $29.05 and a 52-week high of $131.82.

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

Insider Activity

In other CAVA Group news, Director Theodoros Xenohristos sold 98,490 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the director now directly owns 424,846 shares in the company, valued at approximately $53,432,881.42. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In other CAVA Group news, Director Theodoros Xenohristos sold 98,490 shares of CAVA Group 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 transaction, the director now directly owns 424,846 shares of the company’s stock, valued at approximately $53,432,881.42. The sale 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 stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $125.53, for a total value of $25,294,797.12. Following the completion of the sale, the chief executive officer now directly owns 702,590 shares of the company’s stock, valued at approximately $88,196,122.70. 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 quarter.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the company. Jamison Private Wealth Management Inc. bought a new position in shares of CAVA Group in the 2nd quarter worth about $28,000. Nemes Rush Group LLC bought a new stake in CAVA Group in the second quarter worth approximately $28,000. CWM LLC increased its holdings in CAVA Group by 101.2% in the first quarter. CWM LLC now owns 505 shares of the company’s stock worth $35,000 after purchasing an additional 254 shares in the last quarter. Mark Sheptoff Financial Planning LLC acquired a new position in CAVA Group in the second quarter valued at approximately $36,000. Finally, Headlands Technologies LLC bought a new position in shares of CAVA Group during the 2nd quarter worth approximately $37,000. Institutional investors own 73.15% of the company’s stock.

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.