CAVA Group (NYSE:CAVA) Earns Outperform Rating from Wedbush

Wedbush restated their outperform rating on shares of CAVA Group (NYSE:CAVA) in a research note published on Wednesday,Benzinga reports. Wedbush currently has a $150.00 price objective on the stock.

A number of other research analysts have also recently issued reports on the stock. UBS Group lowered their price target on shares of CAVA Group from $160.00 to $125.00 and set a “neutral” rating for the company in a research report on Tuesday, January 7th. William Blair reiterated an “outperform” rating on shares of CAVA Group in a report on Wednesday, November 13th. Barclays cut their price target on CAVA Group from $142.00 to $127.00 and set an “equal weight” rating on the stock in a research note on Tuesday, January 7th. Morgan Stanley lifted their price objective on CAVA Group from $123.00 to $135.00 and gave the company an “equal weight” rating in a research note on Thursday, November 14th. Finally, Citigroup dropped their target price on CAVA Group from $163.00 to $140.00 and set a “neutral” rating on the stock in a report on Friday, February 21st. Eight research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $136.40.

CAVA Group Stock Performance

CAVA stock opened at $98.77 on Wednesday. CAVA Group has a fifty-two week low of $52.81 and a fifty-two week high of $172.43. The company has a market capitalization of $11.32 billion, a price-to-earnings ratio of 214.71 and a beta of 3.25. The business’s 50 day moving average price is $122.12 and its two-hundred day moving average price is $125.97.

CAVA Group (NYSE:CAVA) last issued its quarterly earnings results on Tuesday, February 25th. The company reported $0.05 earnings per share for the quarter, missing the consensus estimate of $0.06 by ($0.01). CAVA Group had a return on equity of 9.10% and a net margin of 5.88%. The firm had revenue of $227.40 million during the quarter, compared to analysts’ expectations of $223.34 million. Sell-side analysts forecast that CAVA Group will post 0.5 earnings per share for the current year.

Insider Activity at CAVA Group

In related news, Director Ronald M. Shaich sold 622,549 shares of the stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $149.40, for a total transaction of $93,008,820.60. Following the transaction, the director now owns 6,307 shares in the company, valued at $942,265.80. This represents a 99.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Brett Schulman sold 20,564 shares of the firm’s stock in a transaction that occurred on Tuesday, January 21st. The stock was sold at an average price of $119.18, for a total transaction of $2,450,817.52. Following the completion of the sale, the chief executive officer now owns 776,369 shares in the company, valued at $92,527,657.42. This represents a 2.58 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 651,784 shares of company stock valued at $96,522,922 over the last ninety days. Insiders own 12.10% of the company’s stock.

Hedge Funds Weigh In On CAVA Group

Several institutional investors have recently made changes to their positions in the business. Creative Planning grew its position in CAVA Group by 22.6% during the third quarter. Creative Planning now owns 6,185 shares of the company’s stock valued at $766,000 after buying an additional 1,139 shares during the period. Financial Advocates Investment Management boosted its stake in shares of CAVA Group by 12.6% during the 3rd quarter. Financial Advocates Investment Management now owns 3,125 shares of the company’s stock worth $387,000 after acquiring an additional 349 shares during the last quarter. Gladstone Institutional Advisory LLC grew its position in shares of CAVA Group by 175.9% during the 3rd quarter. Gladstone Institutional Advisory LLC now owns 6,056 shares of the company’s stock valued at $750,000 after acquiring an additional 3,861 shares during the period. Farther Finance Advisors LLC increased its stake in shares of CAVA Group by 6.3% in the 3rd quarter. Farther Finance Advisors LLC now owns 1,916 shares of the company’s stock worth $237,000 after purchasing an additional 113 shares in the last quarter. Finally, Lansing Street Advisors bought a new position in CAVA Group in the 3rd quarter worth $367,000. Institutional investors own 73.15% of the company’s stock.

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.