CAVA Group (NYSE:CAVA) Trading Up 0.7% After Analyst Upgrade

CAVA Group, Inc. (NYSE:CAVA)’s stock price was up 0.7% during trading on Monday after TD Cowen raised their price target on the stock from $115.00 to $130.00. TD Cowen currently has a buy rating on the stock. CAVA Group traded as high as $131.82 and last traded at $129.70. Approximately 968,308 shares changed hands during mid-day trading, a decline of 66% from the average daily volume of 2,821,556 shares. The stock had previously closed at $128.79.

Several other equities analysts also recently weighed in on the company. Loop Capital raised their price objective on CAVA Group from $80.00 to $122.00 and gave the company a “hold” rating in a research note on Monday, August 26th. Morgan Stanley lowered shares of CAVA Group from an “overweight” rating to an “equal weight” rating and raised their target price for the stock from $90.00 to $110.00 in a research report on Thursday, August 29th. Piper Sandler downgraded CAVA Group from an “overweight” rating to a “neutral” rating and increased their target price for the stock from $63.00 to $92.00 in a research report on Thursday, May 30th. Stifel Nicolaus lifted their price target on shares of CAVA Group from $90.00 to $110.00 and gave the company a “buy” rating in a report on Monday, August 19th. Finally, Jefferies Financial Group lifted their price objective on CAVA Group from $94.00 to $117.00 and gave the company a “buy” rating in a research note on Friday, August 23rd. 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 MarketBeat, CAVA Group currently has a consensus rating of “Moderate Buy” and a consensus target price of $112.83.

Insider Transactions at CAVA Group

In other CAVA Group news, CFO Tricia K. Tolivar sold 5,949 shares of the business’s stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $94.47, for a total value of $562,002.03. Following the transaction, the chief financial officer now owns 297,600 shares in the company, valued at $28,114,272. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CFO Tricia K. Tolivar sold 5,949 shares of CAVA Group stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $94.47, for a total value of $562,002.03. Following the transaction, the chief financial officer now owns 297,600 shares of the company’s stock, valued at $28,114,272. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CFO Tricia K. Tolivar sold 5,000 shares of the business’s stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $125.64, for a total value of $628,200.00. Following the transaction, the chief financial officer now directly owns 292,600 shares of the company’s stock, valued at approximately $36,762,264. The disclosure for this sale can be found here. Insiders sold 310,943 shares of company stock valued at $38,872,086 over the last three months.

Institutional Investors Weigh In On CAVA Group

Institutional investors have recently added to or reduced their stakes in the stock. Jamison Private Wealth Management Inc. bought a new stake in CAVA Group during the second quarter worth about $28,000. Nemes Rush Group LLC bought a new position in CAVA Group in the 2nd quarter valued at $28,000. CWM LLC boosted its holdings in CAVA Group by 101.2% in the first quarter. CWM LLC now owns 505 shares of the company’s stock valued at $35,000 after acquiring an additional 254 shares during the last quarter. Mark Sheptoff Financial Planning LLC bought a new stake in CAVA Group during the 2nd quarter worth about $36,000. Finally, Headlands Technologies LLC bought a new stake in shares of CAVA Group during the second quarter worth approximately $37,000. 73.15% of the stock is owned by institutional investors and hedge funds.

CAVA Group Trading Down 0.4 %

The stock has a 50 day moving average price of $101.67 and a two-hundred day moving average price of $85.83. The company has a market cap of $14.63 billion, a price-to-earnings ratio of 312.87 and a beta of 3.34.

CAVA Group (NYSE:CAVA) last announced its quarterly earnings results on Thursday, August 22nd. The company reported $0.17 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.13 by $0.04. The company 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 company’s revenue for the quarter was up 35.1% compared to the same quarter last year. During the same period in the prior year, the company earned $0.21 earnings per share. On average, equities analysts forecast that CAVA Group, Inc. will post 0.43 EPS for the current fiscal year.

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.