CAVA Group (NYSE:CAVA) Coverage Initiated at Sanford C. Bernstein

Sanford C. Bernstein initiated coverage on shares of CAVA Group (NYSE:CAVA) in a research note published on Wednesday morning, MarketBeat.com reports. The firm issued a market perform rating and a $145.00 target price on the stock.

Several other equities research analysts have also issued reports on CAVA. TD Cowen lifted their price objective on shares of CAVA Group from $130.00 to $150.00 and gave the company a “buy” rating in a research note on Wednesday, November 13th. Morgan Stanley boosted their price target on CAVA Group from $123.00 to $135.00 and gave the stock an “equal weight” rating in a research report on Thursday, November 14th. Jefferies Financial Group increased their price objective on CAVA Group from $94.00 to $117.00 and gave the company a “buy” rating in a report on Friday, August 23rd. TD Securities boosted their target price on CAVA Group from $115.00 to $130.00 and gave the stock a “buy” rating in a report on Tuesday, September 24th. Finally, Loop Capital upped their target price on CAVA Group from $122.00 to $147.00 and gave the stock a “hold” rating in a research report on Thursday, November 14th. Eight analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $143.80.

CAVA Group Stock Up 0.0 %

CAVA Group stock opened at $144.83 on Wednesday. CAVA Group has a 12 month low of $31.47 and a 12 month high of $172.43. The company’s fifty day simple moving average is $133.21 and its 200-day simple moving average is $106.20. The stock has a market cap of $16.59 billion, a P/E ratio of 314.88 and a beta of 3.23.

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

Insider Activity at CAVA Group

In related news, CFO Tricia K. Tolivar sold 5,000 shares of the firm’s 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 completion of the transaction, the chief financial officer now directly owns 292,600 shares of the company’s stock, valued at $36,762,264. This trade represents a 1.68 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Karen Kochevar sold 15,000 shares of the business’s stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $142.23, for a total transaction of $2,133,450.00. Following the completion of 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 position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 334,994 shares of company stock worth $42,543,534. Company insiders own 12.10% of the company’s stock.

Hedge Funds Weigh In On CAVA Group

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