CAVA Group, Inc. (NYSE:CAVA) Receives $131.47 Average Target Price from Analysts

Shares of CAVA Group, Inc. (NYSE:CAVA) have earned a consensus recommendation of “Moderate Buy” from the sixteen brokerages that are presently covering the company, Marketbeat reports. Seven analysts have rated the stock with a hold recommendation and nine have issued a buy recommendation on the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $131.47.

A number of equities research analysts recently commented on the company. Morgan Stanley increased their price target on CAVA Group from $123.00 to $135.00 and gave the stock an “equal weight” rating in a research report on Thursday, November 14th. William Blair reissued an “outperform” rating on shares of CAVA Group in a research note on Wednesday, February 26th. Wedbush reissued an “outperform” rating and issued a $150.00 price target on shares of CAVA Group in a research note on Wednesday, February 26th. Stifel Nicolaus raised their price objective on CAVA Group from $118.00 to $175.00 and gave the stock a “buy” rating in a research note on Wednesday, November 13th. Finally, JPMorgan Chase & Co. raised their price objective on CAVA Group from $90.00 to $110.00 and gave the stock a “neutral” rating in a research note on Wednesday, November 13th.

Insider Activity

In other CAVA Group news, insider Kenneth Robert Bertram sold 678 shares of the business’s stock in a transaction that occurred on Monday, January 27th. The shares were sold at an average price of $124.39, for a total transaction of $84,336.42. Following the completion of the transaction, the insider now directly owns 57,312 shares in the company, valued at $7,129,039.68. The trade was a 1.17 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Adam David Phillips sold 615 shares of the business’s stock in a transaction that occurred on Monday, January 27th. The shares were sold at an average price of $124.39, for a total transaction of $76,499.85. Following the transaction, the chief accounting officer now owns 10,884 shares of the company’s stock, valued at approximately $1,353,860.76. This represents a 5.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 651,784 shares of company stock worth $96,522,922 in the last quarter. Corporate insiders own 12.10% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its stake in shares of CAVA Group by 20.4% during the fourth quarter. Vanguard Group Inc. now owns 8,011,602 shares of the company’s stock worth $903,709,000 after buying an additional 1,357,187 shares during the last quarter. FMR LLC boosted its position in CAVA Group by 14.1% during the fourth quarter. FMR LLC now owns 3,976,353 shares of the company’s stock valued at $448,533,000 after acquiring an additional 491,320 shares during the last quarter. Jennison Associates LLC raised its holdings in shares of CAVA Group by 36,658.7% during the fourth quarter. Jennison Associates LLC now owns 2,461,732 shares of the company’s stock valued at $277,683,000 after purchasing an additional 2,455,035 shares during the period. Two Sigma Advisers LP raised its holdings in shares of CAVA Group by 17.0% during the third quarter. Two Sigma Advisers LP now owns 2,210,900 shares of the company’s stock valued at $273,820,000 after purchasing an additional 321,800 shares during the period. Finally, Federated Hermes Inc. raised its holdings in shares of CAVA Group by 33.0% during the fourth quarter. Federated Hermes Inc. now owns 1,464,987 shares of the company’s stock valued at $165,243,000 after purchasing an additional 363,814 shares during the period. 73.15% of the stock is currently owned by institutional investors and hedge funds.

CAVA Group Price Performance

NYSE CAVA opened at $86.70 on Friday. The firm has a market cap of $10.02 billion, a PE ratio of 188.47 and a beta of 3.25. CAVA Group has a one year low of $57.92 and a one year high of $172.43. The stock’s 50 day simple moving average is $118.84 and its 200 day simple moving average is $125.56.

CAVA Group (NYSE:CAVA) last released its quarterly earnings results on Tuesday, February 25th. The company reported $0.05 EPS for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.01). The business had revenue of $227.40 million for the quarter, compared to the consensus estimate of $223.34 million. CAVA Group had a return on equity of 9.10% and a net margin of 5.88%. As a group, equities analysts expect that CAVA Group will post 0.5 earnings per share for the current year.

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.