Citigroup Issues Positive Forecast for CAVA Group (NYSE:CAVA) Stock Price

CAVA Group (NYSE:CAVA) had its price target increased by Citigroup from $115.00 to $140.00 in a research report sent to investors on Tuesday, Benzinga reports. Citigroup currently has a neutral rating on the stock.

A number of other equities analysts have also recently issued reports on CAVA. Robert W. Baird upped their target price on CAVA Group from $105.00 to $125.00 and gave the stock an “outperform” rating in a report on Friday, August 23rd. TD Securities upped their target price on CAVA Group from $115.00 to $130.00 and gave the stock a “buy” rating in a report on Tuesday, September 24th. Morgan Stanley cut CAVA Group from an “overweight” rating to an “equal weight” rating and upped their target price for the stock from $90.00 to $110.00 in a report on Thursday, August 29th. Jefferies Financial Group upped their target price on CAVA Group from $94.00 to $117.00 and gave the stock a “buy” rating in a report on Friday, August 23rd. Finally, Barclays increased their price target on CAVA Group from $95.00 to $113.00 and gave the company an “equal weight” rating in a research note on Tuesday, October 22nd. Eight research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, CAVA Group currently has an average rating of “Moderate Buy” and an average target price of $118.71.

CAVA Group Stock Down 1.5 %

CAVA Group stock opened at $131.57 on Tuesday. The business’s 50-day simple moving average is $126.65 and its 200 day simple moving average is $98.80. The stock has a market cap of $15.04 billion, a price-to-earnings ratio of 355.59 and a beta of 3.33. CAVA Group has a 12-month low of $29.66 and a 12-month high of $141.25.

CAVA Group (NYSE:CAVA) last announced its earnings results on Thursday, August 22nd. The company reported $0.17 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.13 by $0.04. The business had revenue of $233.50 million for the quarter, compared to analyst estimates of $219.47 million. CAVA Group had a return on equity of 7.37% and a net margin of 5.04%. CAVA Group’s revenue for the quarter was up 35.1% compared to the same quarter last year. During the same quarter last year, the firm earned $0.21 EPS. As a group, sell-side analysts expect that CAVA Group will post 0.43 EPS for the current year.

Insider Activity at CAVA Group

In other CAVA Group news, Director Theodoros Xenohristos sold 98,490 shares of the business’s stock in a transaction on Monday, August 26th. The shares were sold at an average price of $125.77, for a total transaction of $12,387,087.30. Following the completion of the sale, the director now directly owns 424,846 shares in the company, valued at approximately $53,432,881.42. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other CAVA Group news, Director Theodoros Xenohristos sold 98,490 shares of the firm’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 sale, the director now directly owns 424,846 shares of the company’s stock, valued at $53,432,881.42. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Tricia K. Tolivar sold 5,000 shares of the firm’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 transaction, the chief financial officer now owns 292,600 shares of the company’s stock, valued at approximately $36,762,264. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 304,994 shares of company stock valued at $38,310,084. 12.10% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On CAVA Group

A number of large investors have recently made changes to their positions in CAVA. Jamison Private Wealth Management Inc. purchased a new stake in CAVA Group in the second quarter valued at $28,000. Nemes Rush Group LLC purchased a new stake in shares of CAVA Group in the 2nd quarter valued at approximately $28,000. Mark Sheptoff Financial Planning LLC purchased a new stake in shares of CAVA Group in the 2nd quarter valued at approximately $36,000. Headlands Technologies LLC purchased a new position in shares of CAVA Group during the 2nd quarter worth approximately $37,000. Finally, GAMMA Investing LLC boosted its position in CAVA Group by 68.3% in the 3rd quarter. GAMMA Investing LLC now owns 308 shares of the company’s stock valued at $38,000 after buying an additional 125 shares during the period. 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.