CAVA Group, Inc. (NYSE:CAVA – Get Free Report) shares were up 2.9% on Thursday after Argus raised their price target on the stock from $104.00 to $128.00. Argus currently has a buy rating on the stock. CAVA Group traded as high as $125.16 and last traded at $124.71. Approximately 887,714 shares were traded during mid-day trading, a decline of 68% from the average daily volume of 2,806,447 shares. The stock had previously closed at $121.25.
Several other research firms also recently weighed in on CAVA. Piper Sandler downgraded CAVA Group from an “overweight” rating to a “neutral” rating and boosted their target price for the company from $63.00 to $92.00 in a report on Thursday, May 30th. TD Cowen boosted their price objective on CAVA Group from $95.00 to $115.00 and gave the company a “buy” rating in a research note on Friday, August 23rd. Barclays raised their target price on shares of CAVA Group from $72.00 to $95.00 and gave the stock an “equal weight” rating in a research report on Friday, August 23rd. Morgan Stanley downgraded shares of CAVA Group from an “overweight” rating to an “equal weight” rating and upped their price target for the company from $90.00 to $110.00 in a research report on Thursday, August 29th. Finally, Jefferies Financial Group raised their price objective 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. Seven equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $111.58.
Read Our Latest Stock Report on CAVA
Insider Activity at CAVA Group
Institutional Inflows and Outflows
Hedge funds and other institutional investors have recently made changes to their positions in the company. Sanctuary Advisors LLC purchased a new position in CAVA Group during the second quarter worth $1,539,000. Cetera Investment Advisers raised its stake in CAVA Group by 12.3% in the 2nd quarter. Cetera Investment Advisers now owns 39,344 shares of the company’s stock valued at $3,649,000 after purchasing an additional 4,295 shares during the last quarter. B. Riley Wealth Advisors Inc. acquired a new position in CAVA Group in the 2nd quarter valued at about $368,000. Northwestern Mutual Wealth Management Co. lifted its holdings in CAVA Group by 98.0% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 875 shares of the company’s stock valued at $81,000 after purchasing an additional 433 shares in the last quarter. Finally, Creative Planning boosted its stake in shares of CAVA Group by 24.7% during the 2nd quarter. Creative Planning now owns 5,046 shares of the company’s stock worth $468,000 after purchasing an additional 1,000 shares during the last quarter. Institutional investors and hedge funds own 73.15% of the company’s stock.
CAVA Group Stock Down 2.3 %
The business’s fifty day moving average price is $97.16 and its 200 day moving average price is $82.66. The firm has a market capitalization of $14.01 billion, a PE ratio of 298.96 and a beta of 3.34.
CAVA Group (NYSE:CAVA – Get Free Report) last issued 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 7.37% and a net margin of 5.04%. The company had revenue of $233.50 million during the quarter, compared to the consensus estimate of $219.47 million. During the same period in the previous year, the firm posted $0.21 EPS. CAVA Group’s revenue was up 35.1% on a year-over-year basis. As a group, sell-side analysts forecast that CAVA Group, Inc. will post 0.43 earnings per share for the current fiscal 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.
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