CAVA Group (NYSE:CAVA) Trading 1% Higher

CAVA Group, Inc. (NYSE:CAVA) shares were up 1% on Tuesday . The stock traded as high as $125.46 and last traded at $124.13. Approximately 683,205 shares changed hands during mid-day trading, a decline of 76% from the average daily volume of 2,803,778 shares. The stock had previously closed at $122.85.

Analyst Ratings Changes

CAVA has been the subject of a number of research reports. Morgan Stanley downgraded CAVA Group from an “overweight” rating to an “equal weight” rating and lifted their price target for the stock from $90.00 to $110.00 in a research note on Thursday, August 29th. Argus raised their price target on shares of CAVA Group from $104.00 to $128.00 and gave the company a “buy” rating in a research note on Wednesday, September 11th. TD Cowen reissued a “buy” rating and set a $115.00 target price on shares of CAVA Group in a report on Thursday, September 12th. Robert W. Baird boosted their target price on shares of CAVA Group from $105.00 to $125.00 and gave the stock an “outperform” rating in a report on Friday, August 23rd. Finally, Stifel Nicolaus increased their price target on CAVA Group from $90.00 to $110.00 and gave the company a “buy” rating in a research report on Monday, August 19th. Seven investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $111.58.

CAVA Group Stock Performance

The business has a 50-day simple moving average of $99.15 and a two-hundred day simple moving average of $84.21. The stock has a market cap of $14.27 billion, a price-to-earnings ratio of 307.27 and a beta of 3.34.

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

Insider Buying and Selling at CAVA Group

In other news, CEO Brett Schulman sold 201,504 shares of the company’s stock in a transaction on Monday, August 26th. The stock was 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 directly owns 702,590 shares in the company, valued at approximately $88,196,122.70. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, CEO Brett Schulman sold 201,504 shares of the company’s stock in a transaction that occurred on 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 transaction, the chief executive officer now directly owns 702,590 shares in the company, valued at approximately $88,196,122.70. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Tricia K. Tolivar sold 5,949 shares of the stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $94.47, for a total value of $562,002.03. Following the completion of the transaction, the chief financial officer now owns 297,600 shares of the company’s stock, valued at $28,114,272. The disclosure for this sale can be found here. Insiders have sold a total of 400,943 shares of company stock valued at $47,062,986 in the last three months.

Hedge Funds Weigh In On CAVA Group

Several hedge funds and other institutional investors have recently bought and sold shares of CAVA. Swiss National Bank acquired a new stake in CAVA Group in the fourth quarter valued at approximately $1,926,000. Charles Schwab Investment Management Inc. lifted its holdings in shares of CAVA Group by 1.9% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 124,035 shares of the company’s stock worth $5,331,000 after purchasing an additional 2,287 shares in the last quarter. Jump Financial LLC grew its position in CAVA Group by 26.9% in the 4th quarter. Jump Financial LLC now owns 8,900 shares of the company’s stock valued at $383,000 after purchasing an additional 1,889 shares during the period. Principal Financial Group Inc. bought a new stake in CAVA Group during the 4th quarter valued at $2,518,000. Finally, Janney Montgomery Scott LLC raised its holdings in CAVA Group by 46.3% during the fourth quarter. Janney Montgomery Scott LLC now owns 22,947 shares of the company’s stock worth $986,000 after buying an additional 7,263 shares during the last quarter. Institutional investors and hedge funds own 73.15% of the company’s stock.

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.