Analysts Set CAVA Group, Inc. (NYSE:CAVA) Price Target at $115.64

Shares of CAVA Group, Inc. (NYSE:CAVA) have received an average recommendation of “Moderate Buy” from the sixteen brokerages that are covering the company, Marketbeat Ratings reports. Eight investment analysts have rated the stock with a hold recommendation and eight have issued a buy recommendation on the company. The average 1-year price objective among brokers that have covered the stock in the last year is $115.64.

Several analysts have commented on CAVA shares. Loop Capital raised their price objective on shares of CAVA Group from $80.00 to $122.00 and gave the stock a “hold” rating in a report on Monday, August 26th. Stifel Nicolaus raised their price objective on shares of CAVA Group from $90.00 to $110.00 and gave the stock a “buy” rating in a report on Monday, August 19th. TD Securities raised their price objective on shares of CAVA Group from $115.00 to $130.00 and gave the stock a “buy” rating in a report on Tuesday, September 24th. TD Cowen raised their price objective on shares of CAVA Group from $115.00 to $130.00 and gave the stock a “buy” rating in a report on Monday, September 23rd. Finally, Barclays raised their price objective on shares of CAVA Group from $72.00 to $95.00 and gave the stock an “equal weight” rating in a report on Friday, August 23rd.

CAVA Group Stock Up 1.3 %

NYSE CAVA opened at $126.60 on Wednesday. The company has a 50-day simple moving average of $109.63 and a two-hundred day simple moving average of $89.67. CAVA Group has a 12-month low of $29.66 and a 12-month high of $131.82. The firm has a market cap of $14.44 billion, a price-to-earnings ratio of 308.78 and a beta of 3.33.

CAVA Group (NYSE:CAVA) last posted its quarterly earnings results on Thursday, August 22nd. The company reported $0.17 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.13 by $0.04. The business 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 company’s revenue was up 35.1% on a year-over-year basis. During the same period in the prior year, the business posted $0.21 earnings per share. Equities analysts expect that CAVA Group will post 0.43 earnings per share for the current fiscal year.

Insider Buying and Selling at CAVA Group

In other news, CEO Brett Schulman sold 201,504 shares of the business’s stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $125.53, for a total value of $25,294,797.12. Following the sale, the chief executive officer now directly owns 702,590 shares in the company, valued at $88,196,122.70. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other news, Director Theodoros Xenohristos sold 98,490 shares of the business’s stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $125.77, for a total value of $12,387,087.30. Following the sale, the director now directly owns 424,846 shares in the company, valued at $53,432,881.42. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Brett Schulman sold 201,504 shares of the company’s stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $125.53, for a total transaction of $25,294,797.12. Following the transaction, the chief executive officer now owns 702,590 shares in the company, valued at $88,196,122.70. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 304,994 shares of company stock worth $38,310,084.

Hedge Funds Weigh In On CAVA Group

Several hedge funds have recently added to or reduced their stakes in CAVA. Vanguard Group Inc. grew its holdings in CAVA Group by 215.7% during the 1st quarter. Vanguard Group Inc. now owns 4,944,036 shares of the company’s stock valued at $346,330,000 after purchasing an additional 3,377,840 shares during the last quarter. Capital Research Global Investors grew its holdings in CAVA Group by 249.5% during the 4th quarter. Capital Research Global Investors now owns 4,369,281 shares of the company’s stock valued at $187,792,000 after purchasing an additional 3,119,281 shares during the last quarter. 1832 Asset Management L.P. grew its holdings in CAVA Group by 79.5% during the 4th quarter. 1832 Asset Management L.P. now owns 2,248,400 shares of the company’s stock valued at $96,636,000 after purchasing an additional 995,800 shares during the last quarter. Artemis Investment Management LLP bought a new position in CAVA Group during the 1st quarter valued at about $38,225,000. Finally, Lord Abbett & CO. LLC boosted its position in CAVA Group by 55.9% in the 1st quarter. Lord Abbett & CO. LLC now owns 1,373,749 shares of the company’s stock valued at $96,231,000 after buying an additional 492,667 shares during the period. 73.15% of the stock is currently owned by institutional investors.

About CAVA Group

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.