CAVA Group (NYSE:CAVA) Shares Up 2.1%

Shares of CAVA Group, Inc. (NYSE:CAVA) rose 2.1% during trading on Wednesday . The stock traded as high as $114.46 and last traded at $114.24. Approximately 676,944 shares traded hands during mid-day trading, a decline of 76% from the average daily volume of 2,819,216 shares. The stock had previously closed at $111.92.

Analyst Ratings Changes

CAVA has been the topic of a number of recent research reports. Barclays upped their price objective on CAVA Group from $72.00 to $95.00 and gave the stock an “equal weight” rating in a research report on Friday, August 23rd. Piper Sandler lowered CAVA Group from an “overweight” rating to a “neutral” rating and increased their price target for the company from $63.00 to $92.00 in a research report on Thursday, May 30th. Loop Capital boosted their price objective on CAVA Group from $80.00 to $122.00 and gave the stock a “hold” rating in a research report on Monday, August 26th. Citigroup raised their target price on shares of CAVA Group from $93.00 to $115.00 and gave the company a “neutral” rating in a report on Friday, August 23rd. Finally, Jefferies Financial Group boosted their price target on shares of CAVA Group from $94.00 to $117.00 and gave the stock a “buy” rating in a report on Friday, August 23rd. Seven investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $106.75.

CAVA Group Trading Up 2.4 %

The firm’s fifty day moving average price is $93.50 and its 200-day moving average price is $79.51. The firm has a market cap of $13.31 billion, a price-to-earnings ratio of 284.78 and a beta of 3.27.

CAVA Group (NYSE:CAVA) last released its quarterly earnings data on Thursday, August 22nd. The company reported $0.17 earnings per share (EPS) for the quarter, beating 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 during the quarter, compared to the consensus estimate of $219.47 million. During the same quarter in the prior year, the firm posted $0.21 earnings per share. CAVA Group’s revenue for the quarter was up 35.1% on a year-over-year basis. On average, sell-side analysts expect that CAVA Group, Inc. will post 0.43 earnings per share for the current year.

Insiders Place Their Bets

In other news, CEO Brett Schulman sold 201,504 shares of CAVA Group stock in a transaction on Monday, August 26th. The shares were sold at an average price of $125.53, for a total value of $25,294,797.12. Following the transaction, the chief executive officer now directly owns 702,590 shares of the company’s stock, valued at approximately $88,196,122.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CEO Brett Schulman sold 201,504 shares of the stock in a transaction dated 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 completion of the sale, the chief executive officer now owns 702,590 shares in the company, valued at $88,196,122.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Theodoros Xenohristos sold 90,000 shares of the business’s stock in a transaction dated Monday, June 24th. The shares were sold at an average price of $91.01, for a total value of $8,190,900.00. Following the completion of the transaction, the director now owns 424,846 shares in the company, valued at approximately $38,665,234.46. The disclosure for this sale can be found here. Insiders have sold a total of 493,579 shares of company stock valued at $55,510,751 over the last quarter.

Institutional Investors Weigh In On CAVA Group

Several hedge funds have recently modified their holdings of CAVA. Capital Research Global Investors raised its position in CAVA Group by 21.6% during the 1st quarter. Capital Research Global Investors now owns 5,311,335 shares of the company’s stock worth $372,059,000 after buying an additional 942,054 shares during the last quarter. Vanguard Group Inc. raised its holdings in CAVA Group by 215.7% during the first quarter. Vanguard Group Inc. now owns 4,944,036 shares of the company’s stock worth $346,330,000 after purchasing an additional 3,377,840 shares in the last quarter. 1832 Asset Management L.P. lifted its position in CAVA Group by 79.5% in the fourth quarter. 1832 Asset Management L.P. now owns 2,248,400 shares of the company’s stock valued at $96,636,000 after purchasing an additional 995,800 shares during the period. Lord Abbett & CO. LLC boosted its holdings in CAVA Group by 55.9% in the 1st quarter. Lord Abbett & CO. LLC now owns 1,373,749 shares of the company’s stock valued at $96,231,000 after purchasing an additional 492,667 shares in the last quarter. Finally, Federated Hermes Inc. increased its position in CAVA Group by 9.7% during the 2nd quarter. Federated Hermes Inc. now owns 1,060,029 shares of the company’s stock worth $98,318,000 after purchasing an additional 93,635 shares during the period. 73.15% of the stock is owned by institutional investors and hedge funds.

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.