CAVA Group (NYSE:CAVA) Price Target Raised to $128.00

CAVA Group (NYSE:CAVA) had its price target lifted by Argus from $104.00 to $128.00 in a report issued on Wednesday, Benzinga reports. The firm currently has a buy rating on the stock.

CAVA has been the topic of a number of other reports. Stifel Nicolaus raised their price target on shares of CAVA Group from $90.00 to $110.00 and gave the company a buy rating in a research note on Monday, August 19th. Robert W. Baird raised their target price on CAVA Group from $105.00 to $125.00 and gave the company an outperform rating in a research report on Friday, August 23rd. Jefferies Financial Group boosted their price target on CAVA Group from $94.00 to $117.00 and gave the stock a buy rating in a research report on Friday, August 23rd. JPMorgan Chase & Co. lifted their target price on shares of CAVA Group from $77.00 to $90.00 and gave the stock a neutral rating in a research note on Monday, August 26th. Finally, TD Cowen increased their target price on shares of CAVA Group from $95.00 to $115.00 and gave the company a buy rating in a research report on Friday, August 23rd. Seven investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of Moderate Buy and an average price target of $111.58.

CAVA Group Price Performance

CAVA Group stock opened at $122.57 on Wednesday. The stock has a market capitalization of $14.01 billion, a PE ratio of 298.96 and a beta of 3.34. The business has a 50 day simple moving average of $97.16 and a 200-day simple moving average of $82.66. CAVA Group has a 12 month low of $29.05 and a 12 month high of $128.18.

CAVA Group (NYSE:CAVA) last issued its quarterly earnings results on Thursday, August 22nd. The company reported $0.17 EPS for the quarter, topping the consensus estimate of $0.13 by $0.04. The company had revenue of $233.50 million during the quarter, compared to analyst estimates of $219.47 million. CAVA Group had a net margin of 5.04% and a return on equity of 7.37%. The firm’s revenue was up 35.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.21 EPS. On average, equities research analysts anticipate that CAVA Group will post 0.43 EPS for the current fiscal year.

Insider Activity

In other news, CFO Tricia K. Tolivar sold 5,949 shares of CAVA Group stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $94.47, for a total transaction of $562,002.03. Following the sale, the chief financial officer now owns 297,600 shares of the company’s stock, valued at approximately $28,114,272. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In related news, CFO Tricia K. Tolivar sold 5,949 shares of the business’s stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $94.47, for a total value of $562,002.03. Following the sale, the chief financial officer now directly owns 297,600 shares in the company, valued at approximately $28,114,272. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Tricia K. Tolivar sold 5,000 shares of the stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $125.64, for a total transaction of $628,200.00. Following the transaction, the chief financial officer now directly owns 292,600 shares of the company’s stock, valued at approximately $36,762,264. The disclosure for this sale can be found here. Insiders sold a total of 427,165 shares of company stock valued at $49,526,186 in the last 90 days.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the company. Capital Research Global Investors raised its holdings in shares of CAVA Group by 21.6% in the 1st quarter. Capital Research Global Investors now owns 5,311,335 shares of the company’s stock valued at $372,059,000 after buying an additional 942,054 shares during the period. Vanguard Group Inc. grew its position in CAVA Group by 215.7% in the 1st quarter. Vanguard Group Inc. now owns 4,944,036 shares of the company’s stock valued at $346,330,000 after acquiring an additional 3,377,840 shares in the last quarter. 1832 Asset Management L.P. increased its stake in CAVA Group by 79.5% during the fourth quarter. 1832 Asset Management L.P. now owns 2,248,400 shares of the company’s stock worth $96,636,000 after purchasing an additional 995,800 shares during the period. Lord Abbett & CO. LLC lifted its position in shares of CAVA Group by 55.9% during the first quarter. Lord Abbett & CO. LLC now owns 1,373,749 shares of the company’s stock worth $96,231,000 after purchasing an additional 492,667 shares in the last quarter. Finally, Federated Hermes Inc. boosted its stake in shares of CAVA Group by 9.7% in the second quarter. Federated Hermes Inc. now owns 1,060,029 shares of the company’s stock valued at $98,318,000 after purchasing an additional 93,635 shares during the period. 73.15% of the stock is currently 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.