CAVA Group (NYSE:CAVA) Shares Gap Up – What’s Next?

Shares of CAVA Group, Inc. (NYSE:CAVA) gapped up before the market opened on Thursday . The stock had previously closed at $86.67, but opened at $89.63. CAVA Group shares last traded at $89.94, with a volume of 1,348,422 shares changing hands.

Analysts Set New Price Targets

Several brokerages recently issued reports on CAVA. Citigroup reduced their price objective on CAVA Group from $163.00 to $140.00 and set a “neutral” rating on the stock in a research note on Friday, February 21st. TD Securities decreased their price target on shares of CAVA Group from $150.00 to $130.00 and set a “buy” rating for the company in a report on Wednesday, February 26th. Wedbush reiterated an “outperform” rating and set a $150.00 price objective on shares of CAVA Group in a research note on Wednesday, February 26th. William Blair reaffirmed an “outperform” rating on shares of CAVA Group in a report on Wednesday, February 26th. Finally, JPMorgan Chase & Co. raised CAVA Group from a “neutral” rating to an “overweight” rating and set a $110.00 price target on the stock in a report on Thursday, March 20th. Six research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat.com, CAVA Group currently has a consensus rating of “Moderate Buy” and a consensus price target of $131.47.

CAVA Group Trading Up 4.9 %

The firm has a 50-day moving average price of $109.26 and a 200-day moving average price of $122.40. The company has a market capitalization of $10.51 billion, a price-to-earnings ratio of 197.57 and a beta of 3.58.

CAVA Group (NYSE:CAVA) last announced its quarterly earnings data on Tuesday, February 25th. The company reported $0.05 EPS for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.01). CAVA Group had a net margin of 5.88% and a return on equity of 9.10%. The company had revenue of $227.40 million for the quarter, compared to analyst estimates of $223.34 million. Equities research analysts predict that CAVA Group, Inc. will post 0.5 EPS for the current fiscal year.

Insider Buying and Selling at CAVA Group

In related news, insider Theodoros Xenohristos sold 851 shares of the business’s stock in a transaction that occurred on Tuesday, January 21st. The stock was sold at an average price of $119.18, for a total value of $101,422.18. Following the completion of the sale, the insider now directly owns 358,995 shares in the company, valued at approximately $42,785,024.10. The trade was a 0.24 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CAO Adam David Phillips sold 615 shares of CAVA Group stock in a transaction that occurred on Monday, January 27th. The stock was sold at an average price of $124.39, for a total value of $76,499.85. Following the completion of the transaction, the chief accounting officer now directly owns 10,884 shares in the company, 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. In the last quarter, insiders have sold 29,235 shares of company stock worth $3,514,101. 12.10% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On CAVA Group

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its position 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 valued at $903,709,000 after purchasing an additional 1,357,187 shares during the period. FMR LLC increased its stake in CAVA Group by 14.1% in 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 period. Jennison Associates LLC raised its position in CAVA Group by 36,658.7% in the fourth quarter. Jennison Associates LLC now owns 2,461,732 shares of the company’s stock worth $277,683,000 after purchasing an additional 2,455,035 shares in the last quarter. Two Sigma Advisers LP lifted its stake in CAVA Group by 17.0% during the third quarter. Two Sigma Advisers LP now owns 2,210,900 shares of the company’s stock worth $273,820,000 after purchasing an additional 321,800 shares during the period. Finally, Federated Hermes Inc. boosted its holdings in 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 in the last quarter. 73.15% of the stock is currently owned by 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.