CAVA Group (NYSE:CAVA) Trading Up 3.6%

CAVA Group, Inc. (NYSE:CAVA) shares were up 3.6% during mid-day trading on Monday . The stock traded as high as $83.18 and last traded at $82.68. Approximately 462,806 shares traded hands during trading, a decline of 82% from the average daily volume of 2,590,275 shares. The stock had previously closed at $79.84.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on CAVA shares. Morgan Stanley upped their price objective on CAVA Group from $85.00 to $90.00 and gave the stock an “overweight” rating in a report on Tuesday, July 16th. Robert W. Baird increased their price target on CAVA Group from $90.00 to $92.00 and gave the company an “outperform” rating in a report on Wednesday, May 29th. Jefferies Financial Group increased their price target on CAVA Group from $72.00 to $94.00 and gave the company a “buy” rating in a report on Wednesday, May 29th. Citigroup increased their price target on CAVA Group from $60.00 to $81.00 and gave the company a “neutral” rating in a report on Tuesday, May 21st. Finally, JPMorgan Chase & Co. lowered CAVA Group from an “overweight” rating to a “neutral” rating and set a $77.00 price target on the stock. in a report on Monday, June 3rd. Six investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $82.75.

CAVA Group Trading Up 3.3 %

The firm has a market cap of $9.40 billion and a P/E ratio of 194.74. The business has a 50-day moving average price of $87.73 and a 200-day moving average price of $69.84.

CAVA Group (NYSE:CAVA) last issued its quarterly earnings data on Tuesday, May 28th. The company reported $0.12 earnings per share for the quarter, topping analysts’ consensus estimates of $0.04 by $0.08. The firm had revenue of $259.01 million during the quarter, compared to analysts’ expectations of $246.02 million. CAVA Group had a return on equity of 5.18% and a net margin of 3.75%. CAVA Group’s revenue for the quarter was up 27.5% compared to the same quarter last year. On average, equities analysts anticipate that CAVA Group, Inc. will post 0.34 earnings per share for the current fiscal year.

Insider Buying and Selling

In other CAVA Group news, insider Kenneth Robert Bertram sold 5,250 shares of the stock in a transaction dated Tuesday, June 18th. The stock was sold at an average price of $95.28, for a total value of $500,220.00. Following the completion of the sale, the insider now directly owns 67,005 shares in the company, valued at $6,384,236.40. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other CAVA Group news, insider Kenneth Robert Bertram sold 5,250 shares of the stock in a transaction dated Tuesday, June 18th. The stock was sold at an average price of $95.28, for a total value of $500,220.00. Following the completion of the sale, the insider now directly owns 67,005 shares in the company, valued at $6,384,236.40. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Ronald M. Shaich sold 1,231,979 shares of the stock in a transaction dated Wednesday, June 5th. The shares were sold at an average price of $87.25, for a total value of $107,490,167.75. Following the completion of the sale, the director now owns 5,000 shares of the company’s stock, valued at $436,250. The disclosure for this sale can be found here. Insiders sold 1,420,564 shares of company stock worth $124,690,835 in the last three months.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. Jamison Private Wealth Management Inc. purchased a new position in shares of CAVA Group in the second quarter worth about $28,000. Mather Group LLC. acquired a new stake in CAVA Group during the second quarter worth about $45,000. SOA Wealth Advisors LLC. acquired a new stake in CAVA Group during the second quarter worth about $46,000. CWM LLC grew its holdings in CAVA Group by 101.2% during the first quarter. CWM LLC now owns 505 shares of the company’s stock worth $35,000 after acquiring an additional 254 shares during the period. Finally, Montag A & Associates Inc. acquired a new stake in CAVA Group during the fourth quarter worth about $26,000. 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.