CAVA Group’s (CAVA) Outperform Rating Reiterated at William Blair

William Blair restated their outperform rating on shares of CAVA Group (NYSE:CAVA) in a report issued on Wednesday morning,RTT News reports. William Blair also issued estimates for CAVA Group’s FY2024 earnings at $0.49 EPS.

Other equities research analysts have also recently issued research reports about the stock. Loop Capital increased their target price on shares of CAVA Group from $80.00 to $122.00 and gave the stock a “hold” rating in a research report on Monday, August 26th. Robert W. Baird lifted their target price on shares of CAVA Group from $125.00 to $148.00 and gave the company an “outperform” rating in a research note on Monday, November 4th. TD Securities increased their price target on CAVA Group from $115.00 to $130.00 and gave the stock a “buy” rating in a research report on Tuesday, September 24th. TD Cowen lifted their price objective on CAVA Group from $130.00 to $150.00 and gave the company a “buy” rating in a research report on Wednesday. Finally, Argus increased their target price on CAVA Group from $104.00 to $128.00 and gave the stock a “buy” rating in a report on Wednesday, September 11th. Eight analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $143.71.

CAVA Group Stock Performance

NYSE:CAVA opened at $141.23 on Wednesday. The company has a 50-day moving average of $131.69 and a 200-day moving average of $104.24. CAVA Group has a 52 week low of $31.47 and a 52 week high of $172.43. The company has a market capitalization of $16.15 billion, a price-to-earnings ratio of 307.02 and a beta of 3.23.

CAVA Group (NYSE:CAVA) last announced its quarterly earnings results on Tuesday, November 12th. The company reported $0.15 EPS for the quarter, topping analysts’ consensus estimates of $0.11 by $0.04. CAVA Group had a net margin of 5.88% and a return on equity of 9.23%. The firm had revenue of $243.82 million during the quarter, compared to analysts’ expectations of $233.05 million. During the same quarter last year, the company earned $0.06 earnings per share. The company’s revenue for the quarter was up 38.9% compared to the same quarter last year. Sell-side analysts forecast that CAVA Group will post 0.46 EPS for the current year.

Insider Transactions at CAVA Group

In related news, CEO Brett Schulman sold 201,504 shares of CAVA Group stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $125.53, for a total transaction of $25,294,797.12. Following the transaction, the chief executive officer now owns 702,590 shares of the company’s stock, valued at $88,196,122.70. This trade represents a 22.29 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Tricia K. Tolivar sold 5,000 shares of the stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $125.64, for a total value of $628,200.00. Following the completion of the sale, the chief financial officer now owns 292,600 shares of the company’s stock, valued at $36,762,264. This trade represents a 1.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 304,994 shares of company stock worth $38,310,084 in the last quarter. 12.10% of the stock is owned by company insiders.

Hedge Funds Weigh In On CAVA Group

Large investors have recently bought and sold shares of the company. Capital Research Global Investors lifted its stake in CAVA Group by 21.6% in the first 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. grew its stake in shares of CAVA Group by 215.7% in the first 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 in the last quarter. FMR LLC increased its stake in CAVA Group by 0.9% during the 3rd quarter. FMR LLC now owns 3,485,033 shares of the company’s stock worth $431,621,000 after acquiring an additional 29,668 shares during the period. Two Sigma Advisers LP lifted its position in CAVA Group by 17.0% during the third quarter. Two Sigma Advisers LP now owns 2,210,900 shares of the company’s stock worth $273,820,000 after purchasing an additional 321,800 shares during the period. Finally, State Street Corp boosted its position in shares of CAVA Group by 33.3% during the 3rd quarter. State Street Corp now owns 1,267,333 shares of the company’s stock worth $156,959,000 after acquiring an additional 316,514 shares in the last quarter. Institutional investors and hedge funds 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.