Barclays Raises CAVA Group (NYSE:CAVA) Price Target to $113.00

CAVA Group (NYSE:CAVA) had its price target hoisted by investment analysts at Barclays from $95.00 to $113.00 in a report released on Tuesday, Benzinga reports. The brokerage currently has an “equal weight” rating on the stock. Barclays‘s price target suggests a potential downside of 17.23% from the company’s current price.

Several other equities analysts have also issued reports on CAVA. Wedbush lifted their price target on CAVA Group from $100.00 to $120.00 and gave the company an “outperform” rating in a research note on Friday, August 23rd. Argus lifted their target price on CAVA Group from $104.00 to $128.00 and gave the company a “buy” rating in a research report on Wednesday, September 11th. Loop Capital increased their target price on shares of CAVA Group from $80.00 to $122.00 and gave the stock a “hold” rating in a report on Monday, August 26th. JPMorgan Chase & Co. lifted their price target on shares of CAVA Group from $77.00 to $90.00 and gave the company a “neutral” rating in a report on Monday, August 26th. Finally, Stifel Nicolaus increased their price objective on shares of CAVA Group from $90.00 to $110.00 and gave the company a “buy” rating in a research note on Monday, August 19th. Eight investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $116.93.

CAVA Group Stock Performance

Shares of NYSE CAVA opened at $136.53 on Tuesday. The stock has a market capitalization of $15.57 billion, a P/E ratio of 333.00 and a beta of 3.33. The stock’s fifty day moving average is $122.07 and its 200 day moving average is $95.51. CAVA Group has a 52 week low of $29.66 and a 52 week high of $138.12.

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

Insider Activity at CAVA Group

In other CAVA Group news, CEO Brett Schulman sold 201,504 shares of the firm’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 owns 702,590 shares in the company, valued at approximately $88,196,122.70. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, CFO Tricia K. Tolivar sold 5,000 shares of CAVA Group 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 completion of the transaction, the chief financial officer now directly owns 292,600 shares of the company’s stock, valued at approximately $36,762,264. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Brett Schulman sold 201,504 shares of the company’s stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $125.53, for a total value of $25,294,797.12. Following the sale, the chief executive officer now owns 702,590 shares in the company, valued at approximately $88,196,122.70. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 304,994 shares of company stock worth $38,310,084 over the last ninety days. Insiders own 12.10% of the company’s stock.

Institutional Investors Weigh In On CAVA Group

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