CAVA Group (NYSE:CAVA) Price Target Raised to $90.00

CAVA Group (NYSE:CAVA) had its target price increased by JPMorgan Chase & Co. from $77.00 to $90.00 in a research note released on Monday morning, Benzinga reports. They currently have a neutral rating on the stock.

Several other equities research analysts have also commented on the stock. Stifel Nicolaus upped their price target 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. Wedbush upped their target price on shares of CAVA Group from $100.00 to $120.00 and gave the company an outperform rating in a report on Friday, August 23rd. Jefferies Financial Group increased their price target on shares of CAVA Group from $94.00 to $117.00 and gave the stock a buy rating in a research report on Friday, August 23rd. Robert W. Baird boosted their price objective on shares of CAVA Group from $105.00 to $125.00 and gave the company an outperform rating in a research report on Friday, August 23rd. Finally, Morgan Stanley raised their target price on CAVA Group from $85.00 to $90.00 and gave the stock an overweight rating in a report on Tuesday, July 16th. Seven investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, CAVA Group presently has an average rating of Moderate Buy and an average target price of $106.75.

CAVA Group Trading Down 6.4 %

Shares of CAVA stock opened at $110.84 on Monday. CAVA Group has a 12-month low of $29.05 and a 12-month high of $128.18. The stock has a market capitalization of $12.64 billion, a P/E ratio of 270.34 and a beta of 3.27. The firm’s 50 day moving average is $91.78 and its 200 day moving average is $77.68.

CAVA Group (NYSE:CAVA) last released its quarterly earnings results on Thursday, August 22nd. The company reported $0.17 earnings per share for the quarter, beating the consensus estimate of $0.13 by $0.04. CAVA Group had a return on equity of 5.18% and a net margin of 3.75%. The firm had revenue of $233.50 million for the quarter, compared to analysts’ expectations of $219.47 million. During the same period in the prior year, the firm earned $0.21 EPS. The company’s revenue was up 35.1% compared to the same quarter last year. As a group, equities analysts predict that CAVA Group will post 0.34 earnings per share for the current year.

Insider Transactions at CAVA Group

In related news, insider Kenneth Robert Bertram sold 5,250 shares of the business’s stock in a transaction that occurred on Tuesday, June 18th. The stock was sold at an average price of $95.28, for a total value of $500,220.00. Following the transaction, the insider now directly owns 67,005 shares of the company’s stock, valued at approximately $6,384,236.40. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other CAVA Group news, 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 transaction of $107,490,167.75. Following the completion of the transaction, the director now owns 5,000 shares of the company’s stock, valued at approximately $436,250. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Kenneth Robert Bertram sold 5,250 shares of CAVA Group 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 disclosure for this sale can be found here. Insiders sold a total of 1,725,558 shares of company stock valued at $163,000,919 over the last 90 days.

Hedge Funds Weigh In On CAVA Group

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Zurcher Kantonalbank Zurich Cantonalbank purchased a new stake in shares of CAVA Group during the 4th quarter worth approximately $204,000. New York State Common Retirement Fund lifted its position in CAVA Group by 18.3% during the fourth quarter. New York State Common Retirement Fund now owns 54,877 shares of the company’s stock valued at $2,359,000 after purchasing an additional 8,500 shares during the last quarter. Victory Capital Management Inc. purchased a new position in shares of CAVA Group in the 4th quarter worth $13,095,000. Armstrong Fleming & Moore Inc bought a new stake in shares of CAVA Group in the 4th quarter worth about $16,341,000. Finally, Great Valley Advisor Group Inc. purchased a new stake in shares of CAVA Group during the 4th quarter valued at about $284,000. 73.15% of the stock is owned by institutional investors.

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.