CAVA Group (NYSE:CAVA) Stock Price Expected to Rise, Piper Sandler Analyst Says

CAVA Group (NYSE:CAVA) had its target price increased by Piper Sandler from $100.00 to $142.00 in a research report report published on Friday,Benzinga reports. The brokerage currently has a neutral rating on the stock.

CAVA has been the subject of a number of other research reports. JPMorgan Chase & Co. lifted 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. Argus boosted their target price on shares of CAVA Group from $104.00 to $128.00 and gave the stock a “buy” rating in a research note on Wednesday, September 11th. UBS Group assumed coverage on CAVA Group in a research note on Friday, September 27th. They issued a “neutral” rating and a $135.00 price target on the stock. Wedbush upped their price objective on CAVA Group from $155.00 to $190.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 13th. Finally, Jefferies Financial Group raised their target price on CAVA Group from $94.00 to $117.00 and gave the stock a “buy” rating in a research report on Friday, August 23rd. Seven investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $143.71.

CAVA Group Stock Up 2.2 %

NYSE:CAVA opened at $141.38 on Friday. CAVA Group has a 52 week low of $31.47 and a 52 week high of $172.43. The company has a fifty day simple moving average of $131.69 and a two-hundred day simple moving average of $104.46. The company has a market cap of $16.20 billion, a price-to-earnings ratio of 307.35 and a beta of 3.23.

CAVA Group (NYSE:CAVA) last released its earnings results on Tuesday, November 12th. The company reported $0.15 EPS for the quarter, topping the consensus estimate of $0.11 by $0.04. The firm had revenue of $243.82 million during the quarter, compared to analysts’ expectations of $233.05 million. CAVA Group had a return on equity of 9.10% and a net margin of 5.88%. CAVA Group’s revenue for the quarter was up 38.9% on a year-over-year basis. During the same period in the previous year, the firm posted $0.06 EPS. On average, analysts expect that CAVA Group will post 0.5 EPS for the current year.

Insider Activity at CAVA Group

In other news, CEO Brett Schulman sold 201,504 shares of the business’s stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $125.53, for a total value of $25,294,797.12. Following the transaction, the chief executive officer now owns 702,590 shares of the company’s stock, valued at approximately $88,196,122.70. The trade was a 22.29 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Tricia K. Tolivar sold 5,000 shares of the stock in a transaction on Monday, August 26th. The stock was sold at an average price of $125.64, for a total value of $628,200.00. Following the sale, the chief financial officer now directly owns 292,600 shares of the company’s stock, valued at approximately $36,762,264. This represents a 1.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 304,994 shares of company stock worth $38,310,084 in the last 90 days. 12.10% of the stock is owned by insiders.

Hedge Funds Weigh In On CAVA Group

Institutional investors have recently bought and sold shares of the company. Jamison Private Wealth Management Inc. purchased a new position in shares of CAVA Group during the 2nd quarter worth approximately $28,000. Nemes Rush Group LLC purchased a new position in CAVA Group in the second quarter worth $28,000. Mark Sheptoff Financial Planning LLC acquired a new stake in CAVA Group in the second quarter valued at $36,000. Headlands Technologies LLC purchased a new stake in shares of CAVA Group during the 2nd quarter worth $37,000. Finally, GAMMA Investing LLC grew its stake in shares of CAVA Group by 68.3% during the 3rd quarter. GAMMA Investing LLC now owns 308 shares of the company’s stock worth $38,000 after purchasing an additional 125 shares during the period. 73.15% of the stock is owned by institutional investors and hedge funds.

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.