CAVA Group (NYSE:CAVA) Given New $190.00 Price Target at Wedbush

CAVA Group (NYSE:CAVA) had its target price increased by Wedbush from $155.00 to $190.00 in a report released on Wednesday morning, Marketbeat reports. Wedbush currently has an outperform rating on the stock.

Other analysts also recently issued reports about the company. Barclays increased their price objective on CAVA Group from $95.00 to $113.00 and gave the stock an “equal weight” rating in a research note on Tuesday, October 22nd. Robert W. Baird raised their price objective on CAVA Group from $125.00 to $148.00 and gave the company an “outperform” rating in a research note on Monday, November 4th. JPMorgan Chase & Co. upped their target price on shares of CAVA Group from $77.00 to $90.00 and gave the stock a “neutral” rating in a research note on Monday, August 26th. Morgan Stanley downgraded shares of CAVA Group from an “overweight” rating to an “equal weight” rating and increased their target price for the company from $90.00 to $110.00 in a report on Thursday, August 29th. Finally, UBS Group assumed coverage on shares of CAVA Group in a report on Friday, September 27th. They set a “neutral” rating and a $135.00 price target on the stock. Eight investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $136.57.

CAVA Group Trading Up 1.6 %

NYSE CAVA opened at $147.31 on Wednesday. The company has a fifty day simple moving average of $130.75 and a 200 day simple moving average of $103.50. CAVA Group has a 12-month low of $31.41 and a 12-month high of $172.43. The company has a market cap of $16.84 billion, a P/E ratio of 320.24 and a beta of 3.23.

CAVA Group (NYSE:CAVA) last posted its earnings results on Tuesday, November 12th. The company reported $0.15 EPS for the quarter, topping the consensus estimate of $0.11 by $0.04. CAVA Group had a net margin of 5.88% and a return on equity of 9.23%. The company had revenue of $243.82 million during the quarter, compared to the consensus estimate of $233.05 million. During the same period in the previous year, the firm posted $0.06 earnings per share. The firm’s revenue for the quarter was up 38.9% on a year-over-year basis. Sell-side analysts predict that CAVA Group will post 0.44 EPS for the current year.

Insider Activity at CAVA Group

In other news, Director Theodoros Xenohristos sold 98,490 shares of CAVA Group stock in a transaction dated 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 owns 424,846 shares in the company, 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 document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, Director Theodoros Xenohristos sold 98,490 shares of CAVA Group stock in a transaction on Monday, August 26th. The stock was 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 trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Brett Schulman sold 201,504 shares of the stock in a transaction dated 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 sale, the chief executive officer now directly owns 702,590 shares in the company, valued at $88,196,122.70. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 304,994 shares of company stock worth $38,310,084. Insiders own 12.10% of the company’s stock.

Institutional Trading of CAVA Group

Institutional investors and hedge funds have recently bought and sold shares of the company. SpiderRock Advisors LLC increased its holdings in shares of CAVA Group by 8.9% in the third quarter. SpiderRock Advisors LLC now owns 479,319 shares of the company’s stock worth $59,364,000 after purchasing an additional 39,319 shares during the period. Xponance Inc. increased its stake in CAVA Group by 95.2% in the 2nd quarter. Xponance Inc. now owns 9,846 shares of the company’s stock worth $913,000 after acquiring an additional 4,803 shares during the last quarter. PFG Investments LLC raised its holdings in shares of CAVA Group by 36.8% in the 3rd quarter. PFG Investments LLC now owns 15,907 shares of the company’s stock valued at $1,970,000 after acquiring an additional 4,275 shares in the last quarter. Intech Investment Management LLC bought a new stake in shares of CAVA Group during the 2nd quarter valued at about $1,728,000. Finally, Aigen Investment Management LP purchased a new position in shares of CAVA Group during the third quarter worth about $1,293,000. 73.15% of the stock is currently owned by hedge funds and other institutional investors.

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.