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

CAVA Group (NYSE:CAVA) had its price target hoisted by research analysts at TD Cowen from $130.00 to $150.00 in a report released on Wednesday,Benzinga reports. The firm presently has a “buy” rating on the stock. TD Cowen’s target price suggests a potential upside of 3.43% from the stock’s previous close.

Other analysts have also recently issued reports about the company. Barclays boosted their price target on CAVA Group from $95.00 to $113.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 22nd. Stifel Nicolaus upped their price objective on CAVA Group from $90.00 to $110.00 and gave the company a “buy” rating in a research report on Monday, August 19th. Wedbush upped their price objective on CAVA Group from $155.00 to $190.00 and gave the company an “outperform” rating in a research report on Wednesday. JPMorgan Chase & Co. upped their price objective on CAVA Group from $77.00 to $90.00 and gave the company a “neutral” rating in a research report on Monday, August 26th. Finally, Morgan Stanley cut 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 research report on Thursday, August 29th. Eight investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $126.79.

CAVA Group Stock Performance

CAVA Group stock opened at $145.03 on Wednesday. The stock’s 50 day simple moving average is $130.09 and its two-hundred day simple moving average is $103.20. CAVA Group has a fifty-two week low of $30.00 and a fifty-two week high of $151.56. The stock has a market cap of $16.58 billion, a price-to-earnings ratio of 391.97 and a beta of 3.23.

CAVA Group (NYSE:CAVA) last issued its quarterly earnings results on Thursday, August 22nd. The company reported $0.17 EPS for the quarter, topping analysts’ consensus estimates of $0.13 by $0.04. CAVA Group had a return on equity of 7.37% and a net margin of 5.04%. The firm had revenue of $233.50 million for the quarter, compared to analysts’ expectations of $219.47 million. During the same period in the previous year, the firm posted $0.21 EPS. The business’s revenue for the quarter was up 35.1% compared to the same quarter last year. On average, analysts predict that CAVA Group will post 0.44 earnings per share for the current year.

Insider Transactions at CAVA Group

In other news, CEO Brett Schulman sold 201,504 shares of the company’s stock in a transaction on 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 completion of the sale, the chief executive officer now directly owns 702,590 shares in the company, valued at $88,196,122.70. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. In related news, CFO Tricia K. Tolivar sold 5,000 shares of the company’s stock in a transaction on Monday, August 26th. The shares were sold at an average price of $125.64, for a total value of $628,200.00. Following the completion of the transaction, the chief financial officer now owns 292,600 shares of the company’s stock, valued at approximately $36,762,264. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Brett Schulman sold 201,504 shares of the company’s stock in a transaction on Monday, August 26th. The stock was sold at an average price of $125.53, for a total transaction of $25,294,797.12. Following the completion of the transaction, the chief executive officer now directly owns 702,590 shares of the company’s stock, valued at $88,196,122.70. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 304,994 shares of company stock worth $38,310,084 in the last three months. Corporate insiders own 12.10% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in CAVA. Capital Research Global Investors lifted its holdings in shares of CAVA Group by 21.6% in the 1st quarter. Capital Research Global Investors now owns 5,311,335 shares of the company’s stock valued at $372,059,000 after acquiring an additional 942,054 shares during the last quarter. Vanguard Group Inc. lifted its holdings in shares of CAVA Group by 215.7% in the 1st quarter. Vanguard Group Inc. now owns 4,944,036 shares of the company’s stock valued at $346,330,000 after acquiring an additional 3,377,840 shares during the last quarter. Federated Hermes Inc. lifted its holdings in shares of CAVA Group by 9.7% in the 2nd quarter. Federated Hermes Inc. now owns 1,060,029 shares of the company’s stock valued at $98,318,000 after acquiring an additional 93,635 shares during the last quarter. Renaissance Technologies LLC lifted its holdings in shares of CAVA Group by 102.5% in the 2nd quarter. Renaissance Technologies LLC now owns 892,400 shares of the company’s stock valued at $82,770,000 after acquiring an additional 451,800 shares during the last quarter. Finally, Driehaus Capital Management LLC lifted its holdings in shares of CAVA Group by 51.8% in the 2nd quarter. Driehaus Capital Management LLC now owns 732,603 shares of the company’s stock valued at $67,949,000 after acquiring an additional 250,110 shares during the last quarter. 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.