Analysts Set CAVA Group, Inc. (NYSE:CAVA) PT at $143.80

Shares of CAVA Group, Inc. (NYSE:CAVA) have received an average recommendation of “Moderate Buy” from the sixteen research firms that are presently covering the stock, MarketBeat reports. Eight equities research analysts have rated the stock with a hold recommendation and eight have issued a buy recommendation on the company. The average 12 month price target among brokerages that have issued a report on the stock in the last year is $143.80.

CAVA has been the subject of a number of research analyst reports. Wedbush upped their price objective on shares of CAVA Group from $155.00 to $190.00 and gave the company an “outperform” rating in a research note on Wednesday, November 13th. JPMorgan Chase & Co. increased their price target on shares of CAVA Group from $90.00 to $110.00 and gave the stock a “neutral” rating in a research note on Wednesday, November 13th. Sanford C. Bernstein initiated coverage on shares of CAVA Group in a research note on Wednesday, November 20th. They set a “market perform” rating and a $145.00 price objective for the company. Robert W. Baird increased their target price on CAVA Group from $125.00 to $148.00 and gave the stock an “outperform” rating in a research report on Monday, November 4th. Finally, TD Securities boosted their price target on CAVA Group from $115.00 to $130.00 and gave the company a “buy” rating in a research report on Tuesday, September 24th.

Insiders Place Their Bets

In other CAVA Group news, Director Ronald M. Shaich sold 622,549 shares of CAVA Group stock in a transaction on Monday, December 9th. The shares were sold at an average price of $149.40, for a total value of $93,008,820.60. Following the completion of the transaction, the director now owns 6,307 shares of the company’s stock, valued at $942,265.80. The trade was a 99.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director Karen Kochevar sold 15,000 shares of the stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $142.23, for a total transaction of $2,133,450.00. Following the sale, the director now directly owns 1,307 shares in the company, valued at $185,894.61. This trade represents a 91.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 652,549 shares of company stock valued at $97,242,271 in the last ninety days. Corporate insiders own 12.10% of the company’s stock.

Institutional Investors Weigh In On CAVA Group

Several institutional investors and hedge funds have recently bought and sold shares of the business. Lord Abbett & CO. LLC boosted its holdings in shares of CAVA Group by 1.5% during the third quarter. Lord Abbett & CO. LLC now owns 1,358,250 shares of the company’s stock valued at $168,219,000 after acquiring an additional 19,493 shares during the period. Wilmington Savings Fund Society FSB acquired a new stake in CAVA Group in the third quarter worth approximately $286,000. Sanctuary Advisors LLC increased its position in shares of CAVA Group by 12.9% during the 3rd quarter. Sanctuary Advisors LLC now owns 18,738 shares of the company’s stock valued at $2,321,000 after purchasing an additional 2,147 shares during the period. Virtu Financial LLC raised its stake in shares of CAVA Group by 306.9% in the 3rd quarter. Virtu Financial LLC now owns 40,088 shares of the company’s stock worth $4,965,000 after buying an additional 30,235 shares in the last quarter. Finally, Sunbelt Securities Inc. acquired a new stake in shares of CAVA Group in the third quarter valued at $50,000. Institutional investors and hedge funds own 73.15% of the company’s stock.

CAVA Group Trading Down 5.0 %

NYSE:CAVA opened at $117.20 on Monday. CAVA Group has a 12-month low of $39.05 and a 12-month high of $172.43. The firm has a market cap of $13.43 billion, a price-to-earnings ratio of 254.78 and a beta of 2.93. The company’s 50-day moving average is $137.51 and its two-hundred day moving average is $113.83.

CAVA Group (NYSE:CAVA) last announced its quarterly earnings data on Tuesday, November 12th. The company reported $0.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.11 by $0.04. The business had revenue of $243.82 million for the quarter, compared to the consensus estimate of $233.05 million. CAVA Group had a net margin of 5.88% and a return on equity of 9.10%. The company’s quarterly revenue was up 38.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.06 earnings per share. On average, equities research analysts forecast that CAVA Group will post 0.5 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.