Wedbush Raises CAVA Group (NYSE:CAVA) Price Target to $100.00

CAVA Group (NYSE:CAVA) had its price objective hoisted by equities research analysts at Wedbush from $90.00 to $100.00 in a research report issued on Thursday, Benzinga reports. The firm presently has an “outperform” rating on the stock. Wedbush’s target price points to a potential upside of 17.23% from the company’s previous close.

A number of other brokerages have also issued reports on CAVA. Citigroup lifted their target price on CAVA Group from $60.00 to $81.00 and gave the company a “neutral” rating in a research report on Tuesday, May 21st. Jefferies Financial Group lifted their target price on CAVA Group from $72.00 to $94.00 and gave the company a “buy” rating in a research report on Wednesday, May 29th. JPMorgan Chase & Co. lowered CAVA Group from an “overweight” rating to a “neutral” rating and set a $77.00 target price on the stock. in a research report on Monday, June 3rd. Stifel Nicolaus lifted their target price on CAVA Group from $66.00 to $90.00 and gave the company a “buy” rating in a research report on Friday, May 24th. Finally, Robert W. Baird lifted their target price on CAVA Group from $90.00 to $92.00 and gave the company an “outperform” rating in a research report on Wednesday, May 29th. Six research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $82.33.

CAVA Group Price Performance

NYSE CAVA opened at $85.30 on Thursday. The firm has a market cap of $9.73 billion and a P/E ratio of 208.05. The stock’s 50-day moving average is $86.16 and its 200-day moving average is $66.32. CAVA Group has a one year low of $29.05 and a one year high of $98.69.

CAVA Group (NYSE:CAVA) last released its quarterly earnings results on Tuesday, May 28th. The company reported $0.12 EPS for the quarter, topping analysts’ consensus estimates of $0.04 by $0.08. The company had revenue of $259.01 million for the quarter, compared to analyst estimates of $246.02 million. CAVA Group had a return on equity of 5.18% and a net margin of 3.75%. The business’s quarterly revenue was up 27.5% on a year-over-year basis. Equities analysts anticipate that CAVA Group will post 0.34 EPS for the current year.

Insider Transactions at CAVA Group

In other news, Director Ronald M. Shaich sold 1,231,979 shares of CAVA Group stock in a transaction that occurred on Wednesday, June 5th. The stock was sold at an average price of $87.25, for a total transaction of $107,490,167.75. Following the completion of the transaction, the director now directly owns 5,000 shares in the company, valued at approximately $436,250. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, Director Ronald M. Shaich sold 1,231,979 shares of CAVA Group stock in a transaction that occurred on Wednesday, June 5th. The stock was sold at an average price of $87.25, for a total transaction of $107,490,167.75. Following the completion of the transaction, the director now directly owns 5,000 shares in the company, valued at approximately $436,250. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Karen Kochevar sold 20,972 shares of CAVA Group stock in a transaction that occurred on Monday, June 17th. The stock was sold at an average price of $93.60, for a total value of $1,962,979.20. The disclosure for this sale can be found here. In the last three months, insiders sold 1,420,564 shares of company stock worth $124,690,835.

Institutional Trading of CAVA Group

Several institutional investors have recently added to or reduced their stakes in the company. CWM LLC boosted its stake in CAVA Group by 101.2% in the 1st quarter. CWM LLC now owns 505 shares of the company’s stock valued at $35,000 after purchasing an additional 254 shares during the period. Miracle Mile Advisors LLC boosted its stake in CAVA Group by 4.4% in the 1st quarter. Miracle Mile Advisors LLC now owns 7,574 shares of the company’s stock valued at $531,000 after purchasing an additional 318 shares during the period. Montag A & Associates Inc. boosted its stake in CAVA Group by 66.7% in the 1st quarter. Montag A & Associates Inc. now owns 1,000 shares of the company’s stock valued at $70,000 after purchasing an additional 400 shares during the period. American International Group Inc. raised its holdings in CAVA Group by 194.2% in the 1st quarter. American International Group Inc. now owns 709 shares of the company’s stock valued at $50,000 after acquiring an additional 468 shares in the last quarter. Finally, Mather Group LLC. acquired a new position in CAVA Group in the 2nd quarter valued at $45,000. 73.15% of the stock is currently owned by institutional investors.

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.