CAVA Group (NYSE:CAVA) Shares Up 0.5%

Shares of CAVA Group, Inc. (NYSE:CAVA) rose 0.5% on Tuesday . The company traded as high as $122.22 and last traded at $120.66. Approximately 583,849 shares changed hands during mid-day trading, a decline of 79% from the average daily volume of 2,813,847 shares. The stock had previously closed at $120.09.

Analysts Set New Price Targets

CAVA has been the topic of several research reports. Loop Capital raised their price target on shares of CAVA Group from $80.00 to $122.00 and gave the stock a “hold” rating in a research note on Monday, August 26th. Barclays increased their price target on shares of CAVA Group from $72.00 to $95.00 and gave the company an “equal weight” rating in a research note on Friday, August 23rd. Wedbush raised their target price on CAVA Group from $100.00 to $120.00 and gave the stock an “outperform” rating in a research note on Friday, August 23rd. Morgan Stanley cut shares of CAVA Group from an “overweight” rating to an “equal weight” rating and upped their target price for the company from $90.00 to $110.00 in a research report on Thursday, August 29th. Finally, Jefferies Financial Group upped their price target on CAVA Group from $94.00 to $117.00 and gave the stock a “buy” rating in a research note on Friday, August 23rd. Seven equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, CAVA Group presently has a consensus rating of “Moderate Buy” and a consensus target price of $106.75.

CAVA Group Price Performance

The firm’s 50 day moving average price is $94.96 and its two-hundred day moving average price is $81.09. The firm has a market cap of $13.71 billion, a price-to-earnings ratio of 294.30 and a beta of 3.32.

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

Insider Activity

In other news, CEO Brett Schulman sold 66,414 shares of CAVA Group stock in a transaction that occurred on Friday, June 14th. The shares were sold at an average price of $90.11, for a total transaction of $5,984,565.54. Following the completion of the sale, the chief executive officer now directly owns 904,094 shares in the company, valued at approximately $81,467,910.34. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, CEO Brett Schulman sold 66,414 shares of CAVA Group stock in a transaction dated Friday, June 14th. The stock was sold at an average price of $90.11, for a total transaction of $5,984,565.54. Following the completion of the sale, the chief executive officer now owns 904,094 shares in the company, valued at approximately $81,467,910.34. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Tricia K. Tolivar sold 5,949 shares of the firm’s stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $94.47, for a total transaction of $562,002.03. Following the sale, the chief financial officer now directly owns 297,600 shares in the company, valued at $28,114,272. The disclosure for this sale can be found here. Insiders sold 493,579 shares of company stock worth $55,510,751 in the last 90 days.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in CAVA. Swiss National Bank acquired a new stake in CAVA Group in the 4th quarter valued at $1,926,000. M&T Bank Corp bought a new stake in shares of CAVA Group during the 4th quarter valued at about $300,000. Charles Schwab Investment Management Inc. lifted its stake in CAVA Group by 1.9% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 124,035 shares of the company’s stock valued at $5,331,000 after buying an additional 2,287 shares during the last quarter. Jump Financial LLC boosted its position in shares of CAVA Group by 26.9% during the fourth quarter. Jump Financial LLC now owns 8,900 shares of the company’s stock worth $383,000 after buying an additional 1,889 shares during the period. Finally, Principal Financial Group Inc. bought a new position in CAVA Group in the 4th quarter valued at about $2,518,000. 73.15% of the stock is 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.