CAVA Group (NYSE:CAVA) Upgraded to Overweight at Piper Sandler

Piper Sandler upgraded shares of CAVA Group (NYSE:CAVA) from a neutral rating to an overweight rating in a research note released on Friday, MarketBeat reports. Piper Sandler currently has $115.00 price objective on the stock, down from their previous price objective of $142.00.

CAVA has been the subject of a number of other reports. UBS Group decreased their price objective on CAVA Group from $160.00 to $125.00 and set a “neutral” rating for the company in a research report on Tuesday, January 7th. Robert W. Baird raised their price objective on CAVA Group from $125.00 to $148.00 and gave the stock an “outperform” rating in a research report on Monday, November 4th. Morgan Stanley raised their price objective 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. Stifel Nicolaus lifted their price target on CAVA Group from $118.00 to $175.00 and gave the company a “buy” rating in a report on Wednesday, November 13th. Finally, Wedbush reiterated an “outperform” rating and set a $150.00 price target on shares of CAVA Group in a report on Wednesday. Seven investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $131.47.

CAVA Group Stock Up 5.4 %

NYSE:CAVA opened at $94.98 on Friday. CAVA Group has a 1-year low of $56.03 and a 1-year high of $172.43. The firm has a market capitalization of $10.88 billion, a price-to-earnings ratio of 206.47 and a beta of 3.25. The stock has a fifty day simple moving average of $121.21 and a 200 day simple moving average of $125.53.

CAVA Group (NYSE:CAVA) last announced its quarterly earnings data on Tuesday, February 25th. The company reported $0.05 EPS for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.01). CAVA Group had a return on equity of 9.10% and a net margin of 5.88%. The business had revenue of $227.40 million for the quarter, compared to analyst estimates of $223.34 million. Equities analysts predict that CAVA Group will post 0.5 earnings per share for the current year.

Insiders Place Their Bets

In other news, insider Theodoros Xenohristos sold 851 shares of CAVA Group 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 $101,422.18. Following the sale, the insider now owns 358,995 shares of the company’s stock, valued at approximately $42,785,024.10. This trade represents a 0.24 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Ronald M. Shaich sold 622,549 shares of CAVA Group stock in a transaction that occurred on Monday, December 9th. The stock was sold at an average price of $149.40, for a total value of $93,008,820.60. Following the sale, the director now directly owns 6,307 shares in the company, valued at $942,265.80. The trade was a 99.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 651,784 shares of company stock valued at $96,522,922 in the last three months. Company insiders own 12.10% of the company’s stock.

Institutional Trading of CAVA Group

Several institutional investors have recently modified their holdings of the company. Nwam LLC grew its holdings in shares of CAVA Group by 2.6% during the 3rd quarter. Nwam LLC now owns 3,368 shares of the company’s stock worth $417,000 after purchasing an additional 85 shares in the last quarter. Utah Retirement Systems grew its holdings in shares of CAVA Group by 2.5% during the 4th quarter. Utah Retirement Systems now owns 4,100 shares of the company’s stock worth $462,000 after purchasing an additional 100 shares in the last quarter. Howard Financial Services LTD. grew its holdings in shares of CAVA Group by 1.8% during the 4th quarter. Howard Financial Services LTD. now owns 6,194 shares of the company’s stock worth $699,000 after purchasing an additional 109 shares in the last quarter. CIBC Asset Management Inc grew its holdings in shares of CAVA Group by 3.5% during the 3rd quarter. CIBC Asset Management Inc now owns 3,287 shares of the company’s stock worth $407,000 after purchasing an additional 110 shares in the last quarter. Finally, Farther Finance Advisors LLC grew its holdings in shares of CAVA Group by 6.3% during 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. Institutional investors and hedge funds own 73.15% of the company’s stock.

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.