CAVA Group (NYSE:CAVA) Trading Up 0.7% Following Analyst Upgrade

CAVA Group, Inc. (NYSE:CAVA) shares rose 0.7% during mid-day trading on Monday after TD Securities raised their price target on the stock from $115.00 to $130.00. TD Securities currently has a buy rating on the stock. CAVA Group traded as high as $131.82 and last traded at $129.70. Approximately 968,308 shares traded hands during mid-day trading, a decline of 66% from the average daily volume of 2,821,556 shares. The stock had previously closed at $128.79.

A number of other analysts also recently issued reports on CAVA. 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 note on Friday, August 23rd. Loop Capital raised their price objective on CAVA Group from $80.00 to $122.00 and gave the stock a “hold” rating in a research report on Monday, August 26th. Piper Sandler downgraded CAVA Group from an “overweight” rating to a “neutral” rating and raised their price objective for the stock from $63.00 to $92.00 in a research report on Thursday, May 30th. Morgan Stanley downgraded CAVA Group from an “overweight” rating to an “equal weight” rating and raised their price objective for the stock from $90.00 to $110.00 in a research report on Thursday, August 29th. Finally, Argus raised their price objective on CAVA Group from $104.00 to $128.00 and gave the stock a “buy” rating in a research report on Wednesday, September 11th. Seven analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $114.15.

Insider Activity at CAVA Group

In other news, CFO Tricia K. Tolivar sold 5,949 shares of CAVA Group stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $94.47, for a total value of $562,002.03. Following the completion of the transaction, the chief financial officer now owns 297,600 shares in the company, valued at approximately $28,114,272. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, Director Theodoros Xenohristos sold 98,490 shares of CAVA Group stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $125.77, for a total value of $12,387,087.30. Following the completion of the transaction, the director now owns 424,846 shares in the company, valued at approximately $53,432,881.42. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Tricia K. Tolivar sold 5,949 shares of CAVA Group 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 completion of the transaction, the chief financial officer now owns 297,600 shares of the company’s stock, valued at approximately $28,114,272. The disclosure for this sale can be found here. Insiders sold 310,943 shares of company stock worth $38,872,086 in the last three months.

Hedge Funds Weigh In On CAVA Group

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Jamison Private Wealth Management Inc. acquired a new stake in shares of CAVA Group during the 2nd quarter worth about $28,000. Nemes Rush Group LLC acquired a new stake in shares of CAVA Group during the 2nd quarter worth about $28,000. Mark Sheptoff Financial Planning LLC acquired a new stake in shares of CAVA Group during the 2nd quarter worth about $36,000. Headlands Technologies LLC acquired a new stake in shares of CAVA Group during the 2nd quarter worth about $37,000. Finally, Mather Group LLC. acquired a new stake in shares of CAVA Group during the 2nd quarter worth about $45,000. Hedge funds and other institutional investors own 73.15% of the company’s stock.

CAVA Group Stock Performance

The firm has a market cap of $14.53 billion, a price-to-earnings ratio of 310.85 and a beta of 3.34. The firm has a 50-day moving average price of $102.46 and a two-hundred day moving average price of $86.28.

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

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.