CAVA Group (NYSE:CAVA) Stock Price Expected to Rise, JPMorgan Chase & Co. Analyst Says

CAVA Group (NYSE:CAVA) had its target price upped by JPMorgan Chase & Co. from $90.00 to $110.00 in a research note published on Wednesday morning,Benzinga reports. The brokerage currently has a neutral rating on the stock.

CAVA has been the topic of several other reports. TD Cowen lifted their target price on CAVA Group from $130.00 to $150.00 and gave the stock a “buy” rating in a report on Wednesday. Robert W. Baird increased their price objective on shares of CAVA Group from $125.00 to $148.00 and gave the company an “outperform” rating in a research report on Monday, November 4th. Wedbush boosted their target price on shares of CAVA Group from $155.00 to $190.00 and gave the stock an “outperform” rating in a report on Wednesday. Citigroup increased their price target on shares of CAVA Group from $115.00 to $140.00 and gave the company a “neutral” rating in a report on Tuesday, October 29th. Finally, Argus boosted their price objective on CAVA Group from $104.00 to $128.00 and gave the stock a “buy” rating in a research note on Wednesday, September 11th. Eight research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat, CAVA Group has an average rating of “Moderate Buy” and an average target price of $143.71.

CAVA Group Trading Up 2.2 %

NYSE CAVA opened at $141.38 on Wednesday. CAVA Group has a 12 month low of $31.47 and a 12 month high of $172.43. The stock’s 50 day moving average is $131.69 and its 200 day moving average is $104.46. The stock has a market cap of $16.16 billion, a PE ratio of 307.35 and a beta of 3.23.

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

Insider Activity at CAVA Group

In other CAVA Group 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 transaction of $12,387,087.30. Following the completion of the sale, the director now directly owns 424,846 shares of the company’s stock, valued at $53,432,881.42. The trade was a 18.82 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Tricia K. Tolivar sold 5,000 shares of the company’s stock in a transaction on 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 represents a 1.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 304,994 shares of company stock worth $38,310,084 in the last 90 days. 12.10% of the stock is owned by corporate insiders.

Institutional Trading of CAVA Group

Several institutional investors and hedge funds have recently made changes to their positions in CAVA. Nwam LLC increased its position in CAVA Group by 2.6% during the 3rd quarter. Nwam LLC now owns 3,368 shares of the company’s stock valued at $417,000 after purchasing an additional 85 shares during the period. CIBC Asset Management Inc boosted its stake in shares of CAVA Group by 3.5% during the third quarter. CIBC Asset Management Inc now owns 3,287 shares of the company’s stock valued at $407,000 after purchasing an additional 110 shares in the last quarter. Farther Finance Advisors LLC raised its stake in CAVA Group by 6.3% in the third quarter. Farther Finance Advisors LLC now owns 1,916 shares of the company’s stock worth $237,000 after buying an additional 113 shares in the last quarter. GAMMA Investing LLC lifted its holdings in CAVA Group by 68.3% during the third quarter. GAMMA Investing LLC now owns 308 shares of the company’s stock worth $38,000 after buying an additional 125 shares during the period. Finally, Dimensional Fund Advisors LP boosted its position in CAVA Group by 0.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 39,154 shares of the company’s stock valued at $3,632,000 after acquiring an additional 184 shares in the last quarter. 73.15% of the stock is currently owned by 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.