CAVA Group (NYSE:CAVA) Hits New 52-Week High Following Analyst Upgrade

CAVA Group, Inc. (NYSE:CAVA)’s stock price reached a new 52-week high on Monday after TD Securities raised their price target on the stock from $115.00 to $130.00. TD Securities currently has a buy rating on the stock. CAVA Group traded as high as $129.77 and last traded at $129.77, with a volume of 14616 shares changing hands. The stock had previously closed at $128.79.

CAVA has been the subject of several other research reports. Citigroup raised their price objective on shares of CAVA Group from $93.00 to $115.00 and gave the company a “neutral” rating in a research report on Friday, August 23rd. Stifel Nicolaus raised their price objective on shares of CAVA Group from $90.00 to $110.00 and gave the company a “buy” rating in a research report on Monday, August 19th. Argus raised their target price on shares of CAVA Group from $104.00 to $128.00 and gave the stock a “buy” rating in a report on Wednesday, September 11th. JPMorgan Chase & Co. raised their target price on shares of CAVA Group from $77.00 to $90.00 and gave the stock a “neutral” rating in a report on Monday, August 26th. Finally, Piper Sandler cut shares of CAVA Group from an “overweight” rating to a “neutral” rating and raised their target price for the stock from $63.00 to $92.00 in a report on Thursday, May 30th. Seven 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.com, CAVA Group currently has an average rating of “Moderate Buy” and a consensus target price of $114.15.

Insider Transactions at CAVA Group

In other news, CFO Tricia K. Tolivar sold 5,949 shares of the stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $94.47, for a total value of $562,002.03. Following the completion of the sale, the chief financial officer now directly owns 297,600 shares of the company’s stock, valued at $28,114,272. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CFO Tricia K. Tolivar sold 5,949 shares of the firm’s stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $94.47, for a total transaction of $562,002.03. Following the transaction, the chief financial officer now owns 297,600 shares of the company’s stock, valued at $28,114,272. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Tricia K. Tolivar sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $125.64, for a total transaction of $628,200.00. Following the transaction, the chief financial officer now directly owns 292,600 shares in the company, valued at approximately $36,762,264. The disclosure for this sale can be found here. Insiders sold 310,943 shares of company stock valued at $38,872,086 over the last three months.

Hedge Funds Weigh In On CAVA Group

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Dimensional Fund Advisors LP raised its position in shares of CAVA Group by 0.5% in the second quarter. Dimensional Fund Advisors LP now owns 39,154 shares of the company’s stock valued at $3,632,000 after purchasing an additional 184 shares during the period. CWM LLC raised its position in shares of CAVA Group by 101.2% in the first quarter. CWM LLC now owns 505 shares of the company’s stock valued at $35,000 after purchasing an additional 254 shares during the period. Jaffetilchin Investment Partners LLC raised its position in shares of CAVA Group by 4.2% in the second quarter. Jaffetilchin Investment Partners LLC now owns 6,907 shares of the company’s stock valued at $641,000 after purchasing an additional 278 shares during the period. Jamison Private Wealth Management Inc. bought a new position in CAVA Group during the second quarter worth $28,000. Finally, Nemes Rush Group LLC acquired a new position in CAVA Group during the 2nd quarter valued at $28,000. Institutional investors own 73.15% of the company’s stock.

CAVA Group Trading Down 0.6 %

The stock has a market capitalization of $14.53 billion, a P/E ratio of 310.85 and a beta of 3.34. The business’s fifty day simple moving average is $102.46 and its two-hundred day simple moving average is $86.28.

CAVA Group (NYSE:CAVA) last posted its quarterly earnings data on Thursday, August 22nd. The company reported $0.17 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.13 by $0.04. CAVA Group had a net margin of 5.04% and a return on equity of 7.37%. The company had revenue of $233.50 million for the quarter, compared to the consensus estimate of $219.47 million. During the same quarter in the previous year, the firm posted $0.21 EPS. The business’s revenue was up 35.1% compared to the same quarter last year. On average, equities research analysts anticipate that CAVA Group, Inc. will post 0.43 earnings per share for the current year.

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.